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NARKS: Real estate market stagnating

The real-estate market in Slovakia has been stagnating for a considerable time, as people have become more cautious due to the financial crisis, Martin Lazík, director of the National Association of Real Estate Agencies of Slovakia (NARKS), told the TASR newswire on October 27.

The real-estate market in Slovakia has been stagnating for a considerable time, as people have become more cautious due to the financial crisis, Martin Lazík, director of the National Association of Real Estate Agencies of Slovakia (NARKS), told the TASR newswire on October 27.

Lazík said the current situation favours buyers, as they have a wider choice and stronger bargaining positions.

"A recession in construction hasn't surfaced so far, but it's only a matter of time before the number of new projects falls, even in such strong regions as Bratislava and western Slovakia," Lazík said.

According to data collected by NARKS, the average price of building land in mid-October in the Bratislava I district was Sk25,081 (€824) per square metre. Other prices in the capital were: in Bratislava II - Sk6,526 (€217) per square metre, in Bratislava III - Sk11,131 (€369), in Bratislava IV - Sk8,558 (€284), and in Bratislava V - Sk6,490 (€215). TASR

Compiled by Zuzana Vilikovská from press reports
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