(source: Pixabay)
The price of Slovak real estate did not stop growing and are hitting record highs after the first quarter of 2021, prompting real estate agencies to call the residential real estate market Covid-proof.
Investment Advisory Guide - Your key to understanding the Slovak business environment (source: Investment Guide)
The National Bank of Slovakia (NBS) reported that residential real estate prices increased in Q1 2021 by 4.2 percent in a quarter-to-quarter comparison. The increase was recorded across the regions, particularly in the western-Slovak regions of Trenčín and Nitra. The demand for real estate shows no signs of slowing, the National Association of Real Estate Offices of Slovakia (NARKS) noted. Interest in purchasing real estate persisted through the pandemic, but supply lagged with the planning and construction of new units slowing down.
According to the central bank, development is mainly down to the prices of houses, while the tempo of increasing prices of flats has moderately decreased. The NBS analysts expect the forecast development in salaries in the first quarter of the year to have a negative effect on the accessibility of real estate to people, the SITA newswire reported.
