House prices are rising strongly in Slovak Republic
House prices in Slovakia are now rising strongly, with demand buoyed by very low interest rates. The average residential property pricerose by 5.37% to €1,295 (US$1,437) per square metre (sq. m.) during the year to Q3 2016, the country’s highest y-o-y increase since the housing market depression started in Q4 2008, according to the National Bank of Slovakia (NBS). When adjusted for inflation, property prices rose by 6.15%.
During the latest quarter, property prices rose by 1.25% (1.59% in real terms).
Slovakia’s house prices are still 16.4% below their Q2 2008 peak (-24.8% in real terms).
Bratislava region, which has the country’s highest house prices, spearheaded the price rises with a 7.26% price rise to €1,818 (US$2,017) per sq. m. during the year to Q3 2016, an acceleration from a y-o-y rise of 3.23% a year earlier, and the highest annual growth since Q4 2008.
