Parking policy could affect the real estate market in Bratislava

Views of real estate analysts differ over the impact of the parking policy.

Parking in Bratislava now.Parking in Bratislava now. (Source: TASR)

The launch of a city-wide parking policy from the beginning of 2021 could affect the future real estate market in Bratislava. It is possible that the demand for housing in neighbouring villages, from where people commute to work in the Slovak capital by car, will decrease.

“The parking policy will make parking for people who bought housing outside Bratislava more difficult,” said Vladimír Kubrický, analyst for the Real Estate Union, as cited by the TASR newswire. “This doesn’t mean, however, that they will start moving en masse to the capital.”

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However, difficult parking could affect potential buyers who are considering moving outside Bratislava. The result may also be a decline in the demand for housing in nearby municipalities from which people commute for work, added Kubrický.

On the other hand, analysts for Bencont Investments do not expect any significant impact on the real estate market, either in Bratislava or the surrounding villages.

“A quieter environment is attractive, but buyers more and more prefer to live close to their places of work and leisure activities,” said Rudolf Bruchánik, chief analyst for Bencont Investments.

Analysts do agree on the unrivalled position that Bratislava holds in the real estate market in terms of buyer preferences when making decisions between living in the city and living in the vicinity of Bratislava. New satellite housing around the larger cities in Slovakia continues to sell. However, escaping from the bustle of the city is far from being as romantic as it was 10-15 years ago, said Kubrický. He added that dense monolithic construction, lack of infrastructure in these satellite areas and more frequent and bigger traffic jams has had a sobering effect on fans of life in the countryside.

The development of residential real estate indicates that people increasingly prefer to live in apartments in cities as opposed to living in family houses in the countryside. This is proven, according to Kubrický, by the faster rise in the price of apartments compared to family houses over last few years. The other side of the coin, Bruchánik admits, is that high prices and the lack of flats in Bratislava could push people out into peripheral localities in the future.

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