Real estate prices are the highest they've been in the last decade

The National Bank of Slovakia published data from the first quarter of 2019.

(Source: Sme, Ján Krošlák)

Real estate prices in Slovakia did not exceed maximums before the economic crisis. However, they are highest they have ever been in the last decade, the TASR newswire reported.

In the first quarter of 2019, the price per square metre was €1,494; it hasn't been this high since the third quarter of 2008, according to data published by the National Bank of Slovakia.

Slowing down

Read also:Bratislava Region has the lowest housing affordability in Slovakia Read more 

Analysts of the department of currency, statistics and research say that the dynamics of growth slackened.

In the first quarter of 2019, the average price of flats grew by 2 percent and the average price of a house by 2.1 percent in comparison to the previous quarter. On a y-o-y basis, the increase in the average price of living slowed down from 7.6 percent to 7 percent.

The is due to the slowing growth of prices in Bratislava and Trnava region, the analysts say. In Košice region, there was a greater y-o-y drop in the average price of living.

In accordance with income

The average price of the flats in the first quarter of 2019 increased to €1,822 per square metre, which is a 8.4 percent y-o-y increase. In comparison to the previous quarter, the average price of a house increased by 2.1 percent or 5.1 percent y-o-y. The average price of living grew in all regions except the Košice region.

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“The average price of living within Slovakia is in a growth phase,” an analyst commented, as quoted by TASR. “The composite index shows that this is in relative accordance with the development of the economy and the income of households.”

However, there are signs that in some regions, the height of credit measures needed for obtaining living are at the edge of the financial possibilities of households.

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