House prices in Slovakia are recovering
For four quarters, Slovakia´s housing market has seen small annual price gains. Its housing market is beginning to recover, stimulated by a strengthening economy. It is early days, but the pattern is now a familiar one in Eastern Europe, as each country recovers from the recession and takes advantage of its lower labour costs.
Average residential property prices in Slovakia rose by 1.15% to €1,229 (US$ 1,318) per square metre (sq. m.) during the year to Q3 2015. the country´s highest y-o-y increase since the housing market depression started in Q1 2009, based on the figures from the National Bank of Slovakia (NBS). When adjusted for inflation, property prices rose by 1.46% over the same period. On a quarterly basis, property prices rose by 0.66% in Q3 2015 (0.96% in real terms).
