Real estate prices expected to sink

THE REAL estate market has been stagnating over the past several months after reaching extremely high apartment prices, especially in Bratislava, Banská Bystrica, Nitra, and Košice, the daily SME wrote.

Real estate agencies assume that apartment prices will drop when the purchasing power of the public can no longer match sellers’ expectations.

Real estate prices have already started to drop in the Czech Republic and Zeno Kezman, vice president of the National Association of Real Estate Agencies, said that the trend would reach Slovakia as well.

Kezman says that the prices of older apartments are not realistic. At the end of 2003 and 2004 the prices in some regions climbed by 100 percent.

Compiled by Beata Balogová from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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