Work on the tram extension in Petržalka. (source: TASR)
When the first stage of the Petržalka tram ending at Jungmannova Street was launched in 2016, real estate prices in the area increased significantly, according to brokers and analysts. They now expect a similar scenario once the second stage from Jungmannova to the Janíkov Dvor locality is launched. This should happen in the spring, after the completed line receives all the necessary permits.
"It will definitely make real estate more attractive and it will have an impact on prices," says real estate analyst Viktor Obtulovič.
It is not yet possible to say exactly how big the increase will be. "Real estate prices in the immediate vicinity of the tram have seen a slight increase in recent weeks, but it is far from dramatic," says real estate expert and owner of the RE/MAX Vista company Ján Hámorský.
The effect will probably become more evident when people fully realise the benefits of the tram. "Apartments nearby will probably also represent a profitable long-term investment option, because their value is expected to increase," adds Hámorský.
In this article you will learn:
how prices changed with the arrival of the tram to Petržalka in 2016;
the level of interest in apartments in Petržalka;
whether the tram will have an impact on car owners.
Will the 2016 effect repeat itself?
For those interested in living in Petržalka the tram line has served as a magnet for a long time.
"The turning point was when the tram first crossed the Danube a few years ago. Owning an apartment right behind the [Starý Most] bridge was a significant benefit for every Petržalka resident," says Vladimír Kubrický, a Real Estate Union of the Slovak Republic analyst.
Back then, the launch of the tram line significantly affected the prices of apartments in the streets around the new Farského and Jungmannova stops. Data back this.
Bencont Investment chief analyst Rudolf Bruchánik compared how the apartment prices on Jungmannova, Bosákova, Černyševského, Farského, Lužná, Vavilovova Streets and Muchovo Námestie square near the first part of the tram line evolved. He then compared them with the average price in Petržalka.
