Real estate fever. Situation in smaller towns is sometimes worse than in Bratislava

Living is the most expensive in modern history of Slovakia in all regions.

Illustrative stock photoIllustrative stock photo (Source: SITA)

It is said that real estate market in the capital is a market on its own. There are different rules in the capital than in regions and better business could be done in Bratislava than in regions. For example, while prices of the construction materials in Slovakia are about the same, flats in Bratislava are much more expensive.

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That is also the reason why the developers of new housing projects do not rush to smaller towns. But the current real estate boom can have a greater impact on its inhabitants.

“In the past ten years, I have not encountered that flats, respectively the [prices of] real estates in the general would increase at such a peace,” said Lukáš Snopko, director of Košice-based real-estate agency Diamon Reality.

Record prices in every region

The unofficial rule used to say that it is worth it for bigger developers to build in regions when the sales price will jump over €1,000 per square metre. In the reality, it meant that besides Bratislava, such a condition was fulfilled only in Košice and Trnava.

But the situation changed significantly in the past three years. To observe the limit of €1,000, it would be possible to build in any regional capital. Moreover, the limit has even risen. But the interest in building in regions is not higher than in the past.

Austrian developer arrives in Bratislava. Many before him have failed Read more 

Developers counted that with the same effort, they would earn in the capital more than in Prešov, Trenčín or Košice, showed statistics of the National Bank of Slovakia.

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