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REAL ESTATE NOTES

...But rental prices remain static

The same slump that has occured in housing prices around the country has not materialised in housing rental rates. Although prices have generally declined by 1,000 to 2,000 Slovak crowns ($24 to $48) monthly, demand for rental space is increasing, especially among a wave of young people born during Slovakia's 1970-1975 baby boom years who are now looking for more independence.

According to real estate experts, an average three-room furnished flat in the Bratislava suburb of Rača now costs 12,000 crowns ($286) a month. In central Slovakia's Banská Bystrica, prices for the same accomodation have fallen from 6-7,000 crowns to 5-5,500. No further declines are expected, however.

Rental properties that have dropped in value include office and retail space. Experts expect the fall to continue.

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