BRATISLAVA, May 30, (WEBNOVINY) — At the beginning of this year, customers affected the most the housing market in Slovakia. According to Mikulas Car of the National Bank of Slovakia (NBS), in order to get the market going, developers will have to respect the client’s needs more, and also express willingness to offer an interesting price for the client.
Moderately positive outlook for macroeconomic development will probably not contribute to higher final consumption of households and demand for housing, in particular due to expected inflation impacts on prices of foodstuffs and other basic commodities. “This fact will likely contribute to only gradual, moderate activation of the Slovak housing market, while average real estate prices for housing can slightly move in both directions,” Mikulas Car wrote in the latest issue of the bank’s periodical Biatec. The development on the housing market should thus differ in individual regions, and also within individual regions.
Prices of residential real estate in the first quarter of this year decreased 2.5 percent on average in annual terms, and 0.47 percent in quarterly terms. The average price of a square meter of houses and apartments in Slovakia in the first quarter represented EUR 1,264. At present, the average prices correspond with the levels from the third quarter of 2007. The differences among regions are also considerable. According to Car, the demand for large apartments and luxurious villas is relatively low, which pushes their prices down. On the other hand, smaller apartments trade well, therefore their prices hardly go down, Car adds.
SITA
