Property prices to remain stable

THE SLOVAK property market may well stabilise this year thanks to improvements in consumer sentiment and indications of stabilisation in the labour market, Marek Gabriš of ČSOB bank told the TASR newsiwire.

THE SLOVAK property market may well stabilise this year thanks to improvements in consumer sentiment and indications of stabilisation in the labour market, Marek Gabriš of ČSOB bank told the TASR newsiwire.

However, a rise in prices does not seem to be in the cards for the near future.

"A return to a speedier rise in prices can't be expected any time soon," said Gabriš.

Dávid Dereník of UniCredit Bank Czech Republic and Slovakia even expects the prices of housing properties to drop slightly this year - by 4 percent at most.

The current higher profitability of renting out apartments or houses when compared to sales lowers the appeal of selling, according to Dereník. Low interest rates on mortgages are also playing a part in developments.

Low interest rates and increasing demand will exert downward pressure on the exorbitant prices in some ads, Dereník said. Meanwhile, prices of high-quality flats and houses in good locations will remain stable.

Source: TASR

Compiled by Michaela Terenzani from press reports
The Slovak Spectator cannot vouch for the accuracy of the information
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