Housing Prices in Slovakia Have Been Continuously Breaking Records Since Last Year, While Interest Is Not Waning
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At first glance, it seems that anyone who wants to own a home in Slovakia has to put up with increasingly high prices. And the same goes for a more expensive mortgage. However, the latest data on price developments indicate an adjustment in the exchange rate. While real estate advertisements show further price increases, in some cities there are already signs that the...
Real estate prices rose again, with the smallest and oldest apartments becoming more expensive. The post The recession has not come and real estate prices are breaking records: Slovaks bought apartments before mortgages became more expensive was first displayed by interez.sk.
Housing prices rose by 2.6 percent quarter-on-quarter in the third quarter, with the average price reaching 3,120 euros per square meter. The unexpected jump was mainly due to the summer buying frenzy of people rushing to take out a mortgage before interest rates rise again.
The average asking price of residential properties in Slovakia increased by a double-digit rate year-on-year in the third quarter, reaching another record high. Higher mortgage interest rates have not dampened the trend, the Slovak Central Bank (NBS) said today.
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