4Q 2012 saw first annual rise in property prices since 2008

Average property prices rose by 0.6 percent on a quarterly basis to €1,247 per square metre in the fourth quarter of 2012, the TASR newswire learned from the latest statistics from Slovakia's central bank (NBS) on Tuesday, February 5. Perhaps more importantly, however, prices went up on an annual basis - by 0.9 percent - for the first time since 2008.

Average property prices rose by 0.6 percent on a quarterly basis to €1,247 per square metre in the fourth quarter of 2012, the TASR newswire learned from the latest statistics from Slovakia's central bank (NBS) on Tuesday, February 5. Perhaps more importantly, however, prices went up on an annual basis - by 0.9 percent - for the first time since 2008.

The average for 2012 as a whole stood at €1,237 per square metre, which represents an annual contraction of 1.1 percent. "The affordability of housing has increased over recent years, but this was true only for those who managed to retain their jobs and didn't see their salaries cut," said Poštová Banka analyst Eva Sadovská. "A Slovak citizen with an average salary was able to buy 0.65 square metres from his or her monthly salary last year, so falling property prices and a nominal rise in salaries resulted in more affordable housing," said Sadovská.

Bratislava region came out at the top of the price range, with one square metre of property costing an average of €1,661. Nitra region found itself at the opposite end of the spectrum, with €612 per square metre.

(Source: TASR)
Compiled by Zuzana Vilikovská from press reports
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