IN SHORT

Slovakia leads mortgage loan growth

SLOVAKIA leads the EU in mortgage growth, according to a report published by the European Central Bank, the Pravda daily reported.

Over the last four years, mortgages in Slovakia have grown by 150 percent annually compared to the average annual growth rate, which is just below nine percent. Experts attribute the boom to the fact that mortgages are more accessible to the general public and are offered at favourable interest rates - currently below five percent.

The report notes, however, that the "starting level of mortgage loans in the new EU- member states is very low".

While the overall volume of mortgages in the EU is about 40 percent of gross domestic product, despite the growth in Slovakia, it is still just at five percent.

Get daily Slovak news directly to your inbox

Top stories

Investors pursued projects and transactions despite the virus

Investors pursued projects and transactions despite the virus. Check out the 2020 investment highlights from Slovakia.

The visualisation of new Istropolis building

Better times ahead for the Calvary in Bratislava

The last preserved station was restored this summer.

The last preserved station of the Stations of the Cross in Bratislava

Why you need to buy a belt

On this Black Friday, with society teetering on the brink of chaos, I ask that we all do our part.

Virtual school and children's well-being

11 tips how to help children thrive during the pandemic.