NBS: Prices of residential real estate dropped 14.3% during Q3 2009

Residential real estate prices continued to fall during the third quarter of this year. According to the National Bank of Slovakia (NBS), the average price per square metre of residential real estate reached €1,322 in the third quarter, down 1.5 percent over the quarter and 14.3 percent year-on-year (y/y).

Residential real estate prices continued to fall during the third quarter of this year. According to the National Bank of Slovakia (NBS), the average price per square metre of residential real estate reached €1,322 in the third quarter, down 1.5 percent over the quarter and 14.3 percent year-on-year (y/y).

In the first quarter of this year real estate prices decreased 4.3 percent y/y and in the second quarter 13.4 percent y/y. In 2008, prices of houses and apartments rose significantly, by 22.1 percent y/y. This data comes from the NBS, which monitors real estate prices together with the National Association of Real Estate Agencies (NARKS).

As for real estate prices in individual regions, Bratislava Region reported the highest average price per square meter of €1,720, down 0.64 percent from the previous quarter and 13.6 percent y/y; followed by Trnava Region with a quarterly drop of 0.64 percent, 11.4 percent down from a year ago. Košice Region ranked third, with a 1.8-percent drop from the second quarter and a 22.6-percent drop compared to the third quarter of last year. The lowest average price was recorded in Nitra Region, with a 3.2 percent quarterly fall and a 11.6 percent y/y drop.

Compiled by Zuzana Vilikovská from press reports
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