Rent is dropping in Slovakia. Has the Airbnb bubble burst?

There is a new trend in the real estate market in Slovakia.

(Source: SME)

The price of living in Slovakia is hitting historic highs, making housing ever less accessible. Despite that, a new trend has been reported by the real estate market - rent prices have been significantly decreasing since March.

The drop in rent prices has been in two-digit numbers in some localities in Bratislava, according to the real estate website.

This is mainly due to the fact that hundreds of apartments that used to be rented through the Airbnb platform have now been offered on the market. Airbnb was mainly targeting foreign tourists and they are no longer coming to Bratislava in the same numbers as before the coronavirus pandemic. Owners of apartments are therefore opting to rent them through long-term contracts.

A drop between 10 and 20 percent

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