Good evening. Here is the Wednesday, November 6 edition of Today in Slovakia - the main news of the day in less than five minutes.
Apartment prices are going up once again
Bratislava. (source: SME - Marko Erd)
The period when the Bratislava real estate market was considered stagnanting is over, at least for now. According to the latest data from the Bencont Investments analytical company, the market has seen the most significant increase in the prices of old apartments in the last two years. The prospects are that the trend should continue, reports SME daily.
Two years ago, a significant increase in interest rates on mortgages, inflation and the war in Ukraine significantly changed the situation on the real estate market. People who were interested in buying postponed their decision, essentially freezing it.
Compared to the same period in 2023, when prices hit their lowest, the prices of second-hand apartments in Bratislava increased by 5.4 percent in the third quarter of this year. The price of a square metre rose to €3,748; again compared to 2023, that is 9.97 percent higher.
Prices grew in all monitored segments; partially renovated apartments were 5.68 percent more expensive, prices of apartments in their original condition, as well as completely renovated apartments, grew by approximately three percent.
The average absolute price was 18.75 percent higher year-on-year, with apartments sold for an average of €252,679. According to analysts, this growth is a reflection of the increase of both price of square metre and the average area of apartments, which rose by 3.89 percent to 67.38 square metres.
When it comes to districts, the prices of older apartments in the Staré Mesto borough rose by 5.8 percent, while in the Nové Mesto, Rača and Vajnory boroughs it was 6.5 percent.
Moreover, a drop in mortgage interest rates is expected. The prospects for the coming months are rather favourable. Unlike new apartments, older apartments have the advantage of the increased VAT not being reflected in their prices.
In addition to apartment prices, rents have also risen. In the third quarter, the average rent per square metre, including utilities, rose to €16.67, an 8-percent growth year-on-year.
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FEATURE STORY
How to boost tourism?
A wooden church in Tatranska Javorina. (source: SME-Jozef Ryník)
The village of Tatranská Javorina and the Belianske Tatry mountains in northeastern Slovakia near Poland are hidden gems, though long overlooked. Development in this secluded village, however, has been slow. Meanwhile, on the other side of the border, tourism is developing more dynamically while still respecting nature, with well-developed cycling routes, modern ski resorts, and quality wellness services.
How does life look in this secluded part of Slovakia?
EVENT FOR THE MONTH
Celebration of photography
A still from a last year's exhibition during the Month of Photography. (source: TASR)
In Bratislava, the month of November is dedicated to photography, offering almost 30 exhibitions held in various cultural institutions throughout the city as part of the Month of Photography event. The central theme of the current 34th edition is the protection of the biodiversity, while some of the works are focusing on mental health as well. Some of the exhibitions are held outside to reach out to as many people as possible. The event takes places until the end of the month. Find out more here.
IN OTHER NEWS
The Slovak Specialized Criminal Court was informed by the British side that hearing of Slovak extremist Daniel Bombic currently in London will take place on January 30 next year. No further details were provided. In April, the Westminster Magistrates' Court in London extradited the Slovak back home, but he appealed. However, according to SME daily, the hearing will take place in front of a judge who will decide whether to accept Bombic's appeal. If that happens, the case could potentially drag on for months. Although Bombic has resisted extradition to Slovakia for a long time, he claims the opposite to his fans on social media. Bombic faces charges of extremism, dangerous stalking, defamation, and dangerous electronic harassment. (SME)
In a fast track procedure, the parliament approved that in the next two years the salaries of nurses, midwives, paramedics and other groups of healthcare professionals are set to rise as planned before the adoption of the consolidation package.At the end of October, thousands of doctors started to file their resignations due to the government's refusal to honour a 2022 memorandum promising salary increases for doctors. So far, there are 3,300 of them, half of all doctors in hospitals. Nevertheless, the rise is still lower than what they ask. Even if they were given what they ask, they would not automatically retract the resignations. They also demand that the financing of hospitals be adjusted and that the government commits to not turning them into joint-stock companies. If the doctors actually leave, as of January 1, 2025 some hospitals would either not be able to provide healthcare, or would be severely limited. (TASR, SME)
The direct train connection between Bratislava, Slovakia and Kyiv, Ukraine, will be launched on December 15, confirmed Deputy PM Peter Kmec (Hlas) after the meeting of the intergovernmental commission for economic, industrial and scientific-technical cooperation, fulfilling an agreement from the October meeting of both countries' governments. (TASR)
Ukrainian Deputy PM and Minister of Economic Development and Trade Yulia Svyrydenko (left) and Slovak Deputy PM Peter Kmec. (source: TASR)
On Wednesday morning, a brown bear was reported in the Žilina borough of Považský Chlmec. The public is adviced to be cautious while walking in the forest. Another bear was reported in the Kysuce region near houses and roads and is expected to be shot by the Brown Bear Emergency Team. (My Žilina, My Kysuce)
The government approved a bill on the compensation of persons who received a fine for violating anti-pandemic measures and those who paid for a stay in state quarantine facilities. The bill, proposed by PM Robert Fico (Smer) is known as 'the Covid Amnesty'. The bill applies to the period from March 12, 2020 to September 15, 2023. A person can request reimbursement of the full sum or part of it. The bill should enter into force immediately after its approval by the parliament. (TASR)
According to PM Robert Fico (Smer), Chinese experts are expected to arrive in Slovakia within a few days to assess the possibilities of cooperation on the planned 12-kilometre Karpaty tunnel passing under the Little Carpathian mountains. (TASR)
The agreed visa-free travel regime with China is set to come into force as of November 8 until the end of 2025, and will be regularly extended for another year, according to Foreign Affairs Minister Juraj Blanár (Smer). (TASR)
On Monday, the police detained a 20-year-old Croatian national and Dinamo Zagreb fan on the Tyršovo Nábrežie embankment in Bratislava. Ignoring calls to stop, the man in question tried to escape in a vehicle, which he steered directly towards a police officer, endangering their life. Eventually, a patrol blocked the man's path, who still continued to resist. Ultimately, he was stopped by force. A plastic bag containing suspected cannabis was found. The man tested positive for being under the influence of drugs. A criminal prosecution in regards to unauthorized possession of a narcotic and psychotropic substance was initiated. (SITA)
The autumn it the park at the Račianske Mýto locality in Bratislava. (source: TASR)
WEATHER FOR THURSDAY: Partly cloudy to cloudy, locally a fog or low cloud cover might appear. Daily temperature between 9 °C to 14 °C expected. (SHMÚ)
NOVEMBER 7 NAME DAY IN SLOVAKIA: René
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