In Bratislava, significant drop in demand for flats

The decrease comes on the heels of rising interest rates and inflation.

Illustrative photo.Illustrative photo. (Source: Gabriel Kuchta, SME)

Notable changes are appearing in the real estate market in Slovakia, statistics from the Bencont Investments company suggest.

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There has been a significant drop in the demand for apartments in new Bratislava developments, Bencont statistics show. In the third quarter of the year, dramatically fewer apartments were sold in both a quarter-on-quarter and year-on-year comparison.

The decreased demand has already been reflected in the prices of properties.

A weak quarter

Over the summer, Index reported that real estate brokers had started to feel the cooling of the market.

"The demand prevailed over supply last year. The trend is starting to turn, or at least the relation between demand and supply is slowly equalising," said Lukáš Sopko, director of the Košice real estate agency Diamond Reality at the time.

Sopko’s words are now confirmed by Bencont's statistics, according to which 247 apartments in new buildings were sold in Bratislava from July to September 2022.

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