House prices plunge in Slovakia
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The average dwelling price in Slovakia dropped by 13.4% to €1,342 in Q2 2009 from a year earlier, and Slovakia’s economy contracted more than 5% y-o-y during the first half of 2009. Slovakia’s house price boom had already come to a halt in 2008, as a result of the global crisis.
When adjusted for inflation, the average price actually fell by 15.3%, according to house price figures published jointly by the National Bank of Slovakia (NBS) and the National Association of Real Estate Agencies in Slovakia (NARKS).
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