GDP growth prediction for 2011 in Slovakia is estimated to be 3.6%. The real estate prices dropped by average 10-15% in Slovakia due to the world economic crisis.

As a result of the balanced economic growth in Slovakia during the boom times, there was no significant real estate bubble created which could be compared to that in Ireland or Spain. 73% of real estate transactions in the country are performed in Bratislava and surrounding localities.

80% of all mortgage contracts are realized in Bratislava.

People living in Bratislava earn 50% more than those living in the countryside by average.

The price of real estate in Bratislava is double that of the countryside.

The number of unsold newly build apartments decreased from 5,000 to 3,000 between 2009 and 2011.

Unemployment rate in Bratislava is 4%. In Slovakia it is over 10%.

Mortgage sales rose by 18% this year.

85% of the Slovak population owns property without any mortgage.

For those who are thinking to sell their Slovak property, it seems to be the right time, if they purchased before the prices went to the peak during the years 2007-2008. Investors who purchased at peak prices are advised to wait until the prices start climbing again.

Martin Melisko

www.ceinvest.sk