Rodina LIVING



Apartments report two-digit increase in prices in 2018
3 weeks ago,

Apartments report two-digit increase in prices in 2018

Prices of apartments grew at a two-digit pace in Slovakia in 2018. The average price of an apartment increased from €1,479 per square metre to €1,655 per square metre during the first 11 months of 2018. This means an increase of €176 per square metre or 11.9 percent, Vladimír Kubrický, analyst with the Real Estate Union, told the TASR newswire.

 

The increase in residential real estate prices in 2018 resulted from positive economic development and competition between banks to provide mortgages. Interest rates decreased to a record level when they reached levels of 1 percent p.a.

 

Prices grew the most in the spring when demand of real estate increased dramatically. This growth was triggered by the announcement of the National Bank of Slovakia, the country’s central bank, that conditions for taking housing loans were tightening as of July 1, 2018. Many of those wanting to obtain their own housing began to look for real estate and started proceedings to get a bank loan. As a consequence, prices increased by as much a 9.1 percent during the first half of 2018. Compared with this increase, the 3-percent growth during the second half of 2018 was negligible, said Kubrický.

 

While prices in individual regional capitals grew evenly, the price difference between the Slovak capital and other cities remains significant. While the average price of an old three-room apartment in Bratislava is €2,200 per square metre, in Žilina, Trnava and Košice it is €1,500 per square metre. Nitra follows with €1,400 per square metre. Prices in Banská Bystrica, Trenčín and Prešov are lower - €1,200 per square metre.

 

Photo: Sme


More articles

Offer of new apartments in Bratislava hits new low

Offer of new apartments in Bratislava hits new low
3 days ago

At the end of 2018, the offer of housing units in newly finished apartment buildings in Bratislava hit a low since 2002-2005, when this market started developing in Slovakia. This resulted in an increase of average prices of apartments.

Tesco in Bratislava centre changes hands

Tesco in Bratislava centre changes hands
1 week ago

The iconic building of the British retail chain Tesco department store in the centre of Bratislava has changed hands. The new owner of the building is the Mirage Shopping Center company of Žilina-based businessman George Trabelssie. Since 2016 the retail chain Tesco has sold five department stores across Slovakia. Trabelssie, who is close to former chair of the Slovak National Party (SNS) Ján Slota, acquired Tesco department stores also in Nitra and Žilina, the Hospodárske Noviny business daily reported. Tesco will continue to operate in the building on Kamenné Square as it will rent the premises.

Reconstruction of the Danube hotel tops the list of the ugliest new buildings

Reconstruction of the Danube hotel tops the list of the ugliest new buildings
2 weeks ago

The reconstruction of the Park Inn by Radisson Danube hotel in Bratislava has become the ugliest new building constructed between the years 2011 and 2018. As much as almost one third of 1002 participants in a survey organised by the website Trend Reality of the economic weekly Trend voted for it. The weekly launched the survey in early December. Its goal was to start a discussion and hold up a kind of mirror to developers.

The new square in the Blumental development is named after mediaeval King Matthias Corvinus

The new square in the Blumental development is named after mediaeval King Matthias Corvinus
1 month ago

Bratislava’s Old Town has gotten a new square. It is part of a new office-residential complex called Blumental, built by the development company Corwin. It is flanked by streets Mýtna and Radlinského and interconnects with them. It was named after mediaeval King Matthias Corvinus, Matej Korvín Square.

Will Bratislava gets its first modern skyscraper?

Will Bratislava gets its first modern skyscraper?
1 month ago

Bratislava is scheduled to get a new landmark within a few years. The developer J&T Real Estate (JLRE) has obtained a development permit for the project of extending Eurovea on the Danube embankment. Included is the 168-metre high Eurovea Tower, the first building in Bratislava that meets the latest criteria for being called a skyscraper, i.e. higher than 150 metres. The residence tower will have 47 storeys and have almost more than 380 residential units. The project will add 84,000 square metres of retail premises to the existing ones in the first phase of Eurovea, the Hospodárske Noviny wrote.

Sihoť Park being built near Trenčín

Sihoť Park being built near Trenčín
1 month ago

The Saudi-Arabian company Sisban has started building a brand new logistics park near the village Chocholná-Velčice in the Trenčín Region. Sihoť Park will spread over 160,000 square metres, while investments are projected at €50 million. This is the company’s first investment in Slovakia, the TASR newswire reported.

House ownership is becoming less attainable for many

House ownership is becoming less attainable for many
1 month ago

Tightening of conditions for taking mortgages has made house ownership less available for many Slovaks. Banks do not provide mortgages covering 100-percent of real estate prices anymore, and thus those interested financing a house or flat via a mortgage must pay a portion of the purchase price in cash.