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
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

Get daily Slovak news directly to your inbox

Top stories

News digest: High-profile arrests and discussion on reopening schools continues

PM Matovič proposes pilot testing for schools. Slovakia will have the very first Slovak ambassador to the EU.

PM Igor Matovič has stepped into the debate about opening the schools for older children.

Another former police president reportedly charged in a corruption case

NAKA charged eight former high-ranking police, SIS and Financial Administration officials.

Milan Lučanský

Matovič could have made comments about the US rather than Mongolia

I am proud of what has been achieved in Slovakia, says Billy Altansukh.

Older children will not return to schools before Christmas

PM Igor Matovič still wants some pupils to return, he proposed a pilot testing plan.

The school in Trebišov.