Many market analysts say that real estate investment in Slovakia has increased. Over the nine months of this year, the cost of residential apartments has increased by 6.67% compared with the figures for 2018. Note that last year, prices per square meter in Slovak cities rose by only 1.37%. Today’s result can be considered the maximum for Slovakia if we take the statistics for the last three years. As for the statistics for the quarters of the current year, over the past four months, the rise in the price of living space in the country amounted to about 2.55%.

Important statistics
According to the European Central Bank, in the 3rd quarter of 2019, total debt on housing loans increased by 9.5% to €30.24 billion compared to a year earlier. Despite this, Slovakia still has one of the lowest rates of the mortgage debt to GDP ratio in the EU – about 31% of GDP in 2018, which is much lower than the ratio of 28 in the EU, which is about 50%.

In the 3rd quarter of 2019, economic growth in the Slovak Republic slowed down to 1.3% year on year, compared with an annual growth of 1.9% in the 2nd quarter of 2019, 3.7% in the 1st quarter of 2019 and 3.6% in the 4th quarter of 2018, according to the Statistics Office. The Slovak Republic. It was the lowest since the second quarter of 2013. According to the forecasts of the European Commission, this year it is expected that economic growth will be 2.7% compared with annual growth of 4% in 2018 and 3.2% in 2017.

As in most European countries, in Slovakia, the most expensive apartments for a living are concentrated in the capital. Today, the unit area of ​​an apartment located in Bratislava costs approximately €2,911. According to most experts, the rise in prices for Slovak residential apartments will continue in 2020. Nothing can hinder this growth at the moment.

Bottom line
Unlike Czech apartments, which rise in price unreasonably quickly, Slovakian residential real estate adds moderately in value. This is explained not only by the economic situation in the country but also by the behavior of local developers who reasonably raise prices for houses and apartments. Experts note that the gradual increase in the cost of Slovak housing is due to the interest in it, not only domestic buyers, but also foreign investors. The number of the latter is increasing every year, as the country has managed to offer them quite favorable conditions for the purchase and operation of real estate.