Construction work along Kazanská street, the main road of the Podunajské Biskupice area of Bratislava city, is slowly nearing completion. The Valerián complex is under-going its final control checks a year after the Eco House project was finished. It comprises of two, eight-floor blocks of flats (sixty-four residences in total) connected by shops and underground garages, Reality Trend wrote.
Sales were launched in November 2015. Currently, there are ten flats available but many of them are reserved. One square metre costs about €1.800 including garage space, Reality Trend informed.
Near Valerián, the Bencont Development company is close to finishing its Mendelsohn project which had to be halted for a time. The construction works were renewed last year and the sale of flats started at the beginning of this year. The completion of the project is planned for the end of 2018, Reality Trend stated.
Two more projects are also underway in this area; Heaven House being constructed by the Greefin group on the opposite side of Kazanská street and rising a little bit further on, at the cross road with Uzbecká street, construction of the bigger Oppidum project with 133 flats on ten floors is taking place, Reality Trend wrote.
After existing and potential clients showed an eminent interest in central Slovakia, the biggest logistics real estate company in Slovakia, Prologis, began to look for suitable land for the construction of a new industrial park in the desired locality close to Nitra, Banská Bystrica and Zvolen. It found it in Žiar nad Hronom.
The developer YIT Slovakia has launched the sale of apartments in the second building of the fifth, last, phase of the Tammi Dúbravka development. The new block of apartments will provide 42 apartments. It will be connected to the second building of the fifth phase with a community park. The sale of apartments in the first building was launched in September 2017.
The first weeks of 2018 indicate that the high interest in new warehouses in Slovakia is continuing. Developers are responding to the demand with the preparation of expansion phases for their successful projects as well as plans for new industrial premises and parks. The latter may start during the first half of 2018 and so developers would be able to offer new spaces in late 2018.
The developer Merius has brushed up its Semiramis Residence project which it plans to build in front of the Nové Mesto railway station and opposite Kuchajda lake in Bratislava. Its first attempt three years before failed as the local council did not grant it construction permission. The re-worked project with a price tag of €47 million is now undergoing an environmental impact assessment (EIA).
Prices of apartments in Bratislava have increased to their highest level since the crisis, the real estate agency Lexxus has discovered. Based on its latest residential real estate analysis, Slovaks are prepared to pay still more for apartments. This is because they fear further increases in real estate prices as well as the impact of measures taken by the National Bank of Slovakia (NBS). These may worsen accessibility of housing for the middle classes from January.
Although Slovakia has so far been able to attract new investors, in the not so distant future it may have problems with the placement of further investments. The reasons for this are the steadily declining availability of labour, the very slow development of road infrastructure and the lack of readiness of land suitable for the development of industrial parks, according to Martin Varačka, director of the industrial real estate division of the real estate consulting company CBRE in Slovakia.
Foreigners coming to Slovakia to work for the manufacturing industry try to live as economically as possible. They often do not arrive with their families and only work for a short period of time.