Slovakia's housing market shows signs of recovery
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Slovakia’s house prices rose during the first quarter of 2013, after slowing price declines during 2012, at least in nominal terms. But when adjusted for inflation, residential prices fell by 1.7%, according to the National Bank of Slovakia (NBS).
House prices are down by almost 20% (-28.8% in real terms) from thre peak in Q2 2008 of €1,549 per sq. m. Compared to the previous quarter, Slovakia’s property prices were down by 0.6% (-1.1% in real terms) in Q1 2013. The housing boom in Slovakia lasted from 2006 to Q2 2008, with rises ranging from 14% to 35% per annum. The surge stopped in late 2008, and since then prices have fallen continuously.
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