The real estate market reflects the tighter conditions regulating mortgages

Average price of flats in the regional capitals rises only moderately in July

BratislavaBratislava (Source: SME)

The average price of flats in all eight Slovak regional capitals increased over July. Nevertheless, the increase of a mere €8 per square metre, from €1,613 to €1,621 per square metre, is the lowest month-on-month increase over the last few months. Thus, the expectations of Vladimír Kubrický, analyst for Realitná únia, have been fulfilled after he predicted that, following the tightening of conditions for taking out mortgages introduced by the National Bank of Slovakia as of July 1, 2018, there would be a stabilisation of prices.

Read also:Slovakia still among countries with fastest growing loansRead more 

“We also cannot exclude that the real estate market has just taken a time out,” said Kubrický, as cited by the TASR newswire. “Calmer price development has also resulted from the fact that people change their housing with less intensity in the summer months.”

Kubrický does not expect any significant changes in the price of apartments over August. Only the autumn will show the future direction of the real estate market’s development.

In the sector of older two-room apartments, the capital of Slovakia, Bratislava, is the most expensive with an average price of €2,440 per square metre. In Trnava, Nitra, Žilina and Košice the average price is between €1,500 and €1,600 per square metre. In Trenčín, Banská Bystrica and Prešov it ranks from €1,250 to €1,300 per square metre.

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