Slovak real estate price trends
by Radovan Kostelník - ÚEOS Komercia
Slight differences in the overall trend of real estate prices were observed in the Slovakian regions. The Bratislava region surpasses the rest of Slovakia in terms of price levels by far. This is largely due to the capital city effect of Bratislava. A comparison of the regions with the highest and lowest prices and their development over the last 15 years is shown in the chart. In the Bratislava region, prices increased by 205% during the observation period (since 2014 by 39%). In the Banská Bystrica region, prices increased by 238% during the observation period (since 2014 by 25%). The rate of price increase is similar in all regions of Slovakia, but the price base was different. By way of comparison, real estate prices in the Bratislava Region were 2.0 to 2.5 times higher than in the Banská Bystrica Region during the reporting period.
At present, the highest real estate prices can be found in Bratislava. Also the biggest shortage of dwellings is in Bratislava.
The prices for flats depend on the location, the view of the city, the availability of public transport. The price range varies
from 2 500 Euro to 6 000 Euro per square meter. The COVID crisis has not stopped the pace of price increase in Bratislava.
In some cases, prices have been influenced upwards. Due to the lack of vacant properties and lower household income, lower
growth rates are expected. The attractiveness of buying an apartment and then renting it out is decreasing. In contrast to
real estate prices, rents in the private sector have fallen. Partly caused by the market panic following the Airbnb restrictions.
Owners began to prefer long-term rents over local citizens, as they lost rental income from foreign tourists. A higher number
of vacant properties appeared on the market, which caused prices to fall.
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