Real estate
Situation on Slovak real estate market is currently influenced by several factors: upcoming euro adoption, mortgage crises in USA and real estate issues in some western countries, many housing projects and banks competing in better mortgage products.
Making predictions for future development is not easy even for market watchers at the moment. Demand is still slightly higher than supply but all the above mentioned fact can change the situation and people’s plans for buying a property.
It is probable that the massive construction of new apartments will decrease the prices of older properties in near future.
Financial crisis impact
The crisis on international financial and real estate markets has been going on for couple of years now. Starting in the United States, moving over to Europe, and recently we have felt its impact also in the Slovak republic.
The current real estate projects are now facing a difficult period. During the last couple of months has the situation on real estate market changed rapidly. The price decrease has started reaching Slovakia and these dropdowns were first visible especially in smaller towns. The capital city Bratislava followed the trend quickly by price decrease of older apartments and consequently also prices of luxury apartments. Some price dropdowns went as high as 40%.
This situation makes all parties hesitant to see what the next development is going to be and what direction will all real estate industry take.
For the latest information on real estate prices visit:
http://www.ceinvest.sk/home/
http://www.compra.sk/index.php?id=0&lang=en&subid=&chid=&category=&type=&object=&photo=&seo=
http://www.dvreal.sk/eng/default_eng.htm