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.
The developer Penta Real Estate is preparing the second phase of the Bory Bývanie residential project. It will create 287 apartments in nine, four- to six-storey blocks. It plans to launch the construction during the third quarter of 2018.
Petržalka, the most populated borough of Bratislava, has gotten a new roofed market place, Petržalská Tržnica. It is located in a reconstructed shopping centre of almost 5,000 square metres on Bratská Street. The new market place welcomed its first shoppers on Friday, April 6.
The British retail chain Tesco is continuing the sale of its department stores, former Priors, in Slovakia. Following the sale of its stores in Žilina, Nitra, Prešov and Košice the retail chain is now selling its last piece of real estate in Slovakia, the department store My (We in English) on Kamenné Square in Bratislava. Tesco Stores SR has confirmed negotiations with potential buyers, the Trend weekly reported.
Interest in the acquisition of recreational real estate has increased over the last three years. The demand has been spurred by the activities of developers in this sector.
In a short period of time the eastern Slovak town of Prešov has acquired another shopping centre. After the 22,000 m2 Eperia, with more than 100 shops, opened last November, the Solivaria shopping centre, close to the bus station, was ceremonially opened on March 15. Built on the 10,500 m2 site of the former industrial premises of ZPA Křižik, it offers 20 shops and 296 parking places. Its construction cost €20 million, Lýdia Kulíková from the company Prešov Park, informed.
The new city quarter growing in Bratislava’s Petržalka borough is popular among those looking for new housing. Last year people bought a total of 565 apartments there. This number accounted for more than 11 percent of all new apartments sold in Bratislava in 2017.
It is no surprise that a good working environment can motivate better performance from employees. Thus companies, during this time of qualified labour shortage, are endeavouring to improve the working environment for their employees as much as possible. To reflect this development, the real estate consultancy company CBRE Slovensko organises a competition for the best office. The Profesia company, running the biggest job portal in Slovakia, has won its second year. Among other companies given awards are the IT company Sygic and the business-services organisation EY.