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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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State insulation falls behind expectations, ministry widens support

Only 134 homeowners in the first round and 62 in the second applied for a subsidy via the insulation programme.

Only 134 homeowners in the first round and 62 in the second applied for a subsidy via the state insulation programme. Illustration stock photo

Fee has a negative impact

Practice shows that municipalities will require investors to pay the fee for development from their own budgets and at the same time to also cover the so-called induced investments.

Some municipalities want to re-think the fee.

Kysuce inhabitants block busy road in protest

The blockade caused traffic collapse.

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