Small, especially one-room, apartments and bed-sits are maintaining the highest prices in Bratislava. The price of two- and three-room apartments has decreased moderately. The interest in family houses and construction parcels is still high while demand exceeds availability.
“Interest is highest for new houses, completed apartment blocks and reconstructed smaller ones- up to three-room apartments,” said Daniela Danihel Rážová from the real estate company Bond Reality, as cited by the Pravda daily.
The price of older residential real estate is lower. Martin Lazík from the nehnutelnosti.sk website dedicated to real estate confirms.
“The trend we are seeing in the real estate market is that developers are able to increase their prices more easily as the price of old apartments decreases,” said Lazík, adding that both types of apartments are still selling well, their prices growing by mutual influence until they hit a ceiling.
It seems that the market has reached this ceiling as prices have been oscillating at the same level for some months, even though the price of new and old apartments develops a bit differently, according to Lazík.
“We have registered a more significant growth in price in case of new constructions,” said Lazík. “Also, this increase is hovering around 2-3 percent and is significantly lagging behind the previous growth period.”
The price of two-room apartments in Slovakia increased by only 1.05 percent on average in the final quarter of 2017 compared with the previous quarter. In the case of three-room apartments, the increase was 1.97 percent.
Market watchers expect prices, especially in Bratislava, will stagnate.
Lazík expects that people moving from the countryside to larger towns for work will also continue this year. This will result in a growth of local differences – expensive real estate in towns and their vicinities and cheap housing in the countryside.
The cheapest apartments can be found in eastern Slovakia and the south of central Slovakia. In these localities there apartments can be found for a fraction of the price of apartments in the regional capitals.
One Fashion Outlet 1 near the village of Voderady, the biggest outlet centre in Slovakia, has filed for bankruptcy, the Trend weekly informed. The further fate is now in the hands of the courts.
After withdrawing its application for an important investment statute for the Connected Bratislava package of projects, the developer J&T Real Estate (JTRE) is continuing to work on selected projects on the Danube River embankment. Instead of an extensive package of projects on both sides of the Danube, it is now focusing on the zone around Eurovea and Panorama City.
While the share of the market held by rental apartments in the countries of the European Union is between 19 and 62 percent, in Slovakia it is only about 6 percent. This negatively affects labour force mobility and housing for young families and handicapped citizens, the Benchmarking Information Exchange Project has discovered. The Supreme Audit Office (NKÚ) in Slovakia participated in the project and focused on the comparison of support for rental housing between Slovakia and the Czech Republic and Austria where the share of rental apartments on the market is 21 percent and 42 percent, respectively.
Slovaks are increasingly interested in recreational real estate. The demand has increased by 20 percent over the last year. The most wanted properties are cottages near Michalovce in eastern Slovakia.
Healthy offices providing a sustainable environment in terms of energy, as well as their surroundings, are a world trend that has not skipped Slovakia. There are a number of buildings that have already received or are applying for the world-renowned LEED, BREEAM, WELL or Fitwell certifications. One of them is the Einpark office building in Petržalka, which – as the first in Slovakia – has successfully completed LEED (Leadership in Energy and Environmental Design) pre-certification to the highest degree, Platinum.
The abandoned building of the former Lamač department store in Bratislava’s borough of the same name will return to life. The new owner, the investment group Dynastion, will revitalise it into the Karpatia centre. Apart from shops, it will house co-working offices and provide space for a youth community centre. The complex revitalisation of the building should start this autumn.
US real estate investment fund Heitman sold the Aupark Tower office building in Bratislava to the real estate fund of the investment bank Wood & Company in early June. The consultancy company CBRE, which mediated the deal, describes the transaction as the biggest on the Slovak office real-estate market for seven years. The price, however, was not disclosed.