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.
27. Sep 1999 at 0:00 | From press reports of TASR and SITA