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BUSINESS IN SHORT

House and apartment prices fall

THE PRICES of residential real estate in Slovakia fell in the first quarter of 2011 by a countrywide average of 2.5 percent compared to the same period in 2010, and by 0.47 percent from the final quarter of 2010, the SITA newswire reported.

THE PRICES of residential real estate in Slovakia fell in the first quarter of 2011 by a countrywide average of 2.5 percent compared to the same period in 2010, and by 0.47 percent from the final quarter of 2010, the SITA newswire reported.

In the fourth quarter of 2010, residential real estate prices had fallen 2.1 percent year-on-year and 2.6 percent from the previous quarter.

The countrywide average price per square metre for residential property was €1,264 in the first quarter, according to information released by the National Bank of Slovakia, which monitors real estate prices together with the National Association of Real Estate Agencies.

Last year, countrywide residential real estate prices fell 3.9 percent in comparison with 2009.

Prices of real estate in Nitra Region increased the most in the first quarter, by 4.5 percent from the last quarter of 2010 and reached an average of €602 per square metre – which is still the lowest average price in Slovakia’s eight regions.

Trnava Region posted the steepest decline in average price, at 2.1 percent over the quarter, to €846 per square metre. Bratislava Region continued to have the highest average price for real estate in the first quarter, at €1,694 per square metre for residential property, registering a quarterly decline of 1.1 percent.


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