At the end of last year, the market for older apartments saw a drop in prices. (source: SITA)
The recent trend of falling prices for flats is unlikely to change any time soon, according to Slovak real estate agents.
Experts have said that a combination of rising inflation, higher interest rates on mortgages, and uncertainty surrounding economic developments were behind a drop in prices last year.
Data from analytical company Bencont Investments has shown that while last spring demand exceeded supply, the tables turned in summer with sellers unable to push prices to high levels as demand waned.
These new market conditions affected mainly older flats.
