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Old Town sets commercial space prices

Bratislava's Staré Mesto (Old Town) district council approved a decree setting prices for commercial space at 10,000-30,000 Sk per square meter in Bratislava's center. The price will be used when the city sells 800-1,000 such spaces to entrepreneurs who now rent them.

All current tenants expressed interest in purchasing their space, but the prices set by the council drew fast and furious complaints from tenants who considered them to be too high. These irate tenants argue that the price does not incorporate either past or future investments into the space.

Peter Smrek, the deputy district mayor, defended the prices as a means by which the district can raise funds to renovate deteriorating old buildings. In setting the prices, the district multiplied the usual rent in the area, which is 4,500-8,000 Sk per square meter, by a minimum of seven times. Buyers would have to pay 70 percent of the price in the first installment and the remaining 30 percent within two years.

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