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Housing Prices Rise by 5.5 Percent
2 months ago,

Housing Prices Rise by 5.5 Percent

In most parts of Slovakia there has been an inter annual price rise for residential real estate.

The price of residential real estate has been growining continuously over the last year. In the third quarter of 2016, flats were 5.5 percent more expensive than in the same quarter of 2015. These price rises have continued into the last months of 2016 as predicted on the the Nehnutelnosti.sk website which also mentioned stricter loan conditions for 2017.

In addition, they offer some price comparisons based on the third quarter of last year. The biggest difference appears in the Žilinský region where the inter annual growth of 10.56 percent means that the average price of a flat is now €832 per square metre, a difference of almost €79 compared with last year. This means that while in the past the average cost of a 2-bedroom flat in Žilina was €63,000, today it would cost the buyer at least €75,000.

The second largest percentage growth of 7.7 was recorded in the Nitriansky region, while in the regions of Bratislava, prices grew by 7.3 percent to where the average price per square metre is now €1818.

Conversely both the Košický and Banskobystrický regions experienced an inter annual fall in prices of 3 percent. These regions are influenced by economically weak districts.

Nehnutelnosti.sk also compared the prices being asked for different sizes of flats. The highest percentage rise of 11.2, was for 1-bedroom flats which now cost on average €1,649, a difference of €166. The second highest growth of 9.2 percent was for 2- bedroom flats while prices for 3-bedroom flats rose by 9 percent.

According to the website the average price of family houses has risen as well. Whereas a buyer could previously expect to pay approximately €1,063 per square metre, a rise of 2.4 percent means they would now pay approximately €1089.

Photo source: Tomáš Benedikovič, SME


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