Slovakia price growth
marek Slovakia price growth

Community Editor's Comment:

Hi Marek

Very interesting post - thanks a lot for that.

Glad you picked up this article and translated it for us, especially as we are about to launch our first deal in Kosice.

I see by the article that property has risen by 46% in the city in 2007. In our market analysis we have used a more conservative figure of 33% growth in 2007 according to the latest NBS (National Bank of Slovakia) figures.

This figure does take the average price per sqm across all property types.

It would be good to find out what property types were used for the figures quoted in the article. We have found that 1 beds are in particular demand in the city so the growth is potentially higher for these units.

We expect to see a minimum 20% growth per annum in Kosice in the next 2 years - this is based on the current lack of new developments in the city and the increased level of investment and new jobs going into the city.

We will be launching details of our deal in the city later on today and we cover all this data on the housing market and investment in the Investment Report.

Thanks again Marek - always good to receive this very useful information that is not always evident to us non-Slovak speakers!

Noreen

Posted: Jan 14 08 11:04
Total Posts: 19
Users Rating:

Yesterday I have read very interesting article from one of the main slovakian internet servers :

http: / /www .sme .sk /c /3661200 /ceny -bytov -sa -zbrzdia .html

Article and its related discussion are in slovak, so here are the main points :

It contains comparison of average prices per m2 in main Slovakian cities, figures are taken from January 2007 and then from December 2007. What is interesting is that some cities (mainly from Eastern Slovakia, like Presov and Kosice) increased 100% during 2007.

And here are the figures from article (average price of 1-bedroom apartments, in SK per m2) :

Bratislava
January 2007 : 47 827
December 2007 : 60 962

Zilina
January 2007 : 25 388
December 2007 : 34 104

Presov
January 2007 : 14 601
December 2007 : 32 623

Kosice
January 2007 : 18 108
December 2007 : 33 594

Nitra
January 2007 : 21 259
December 2007 : 32 975

Trnava
January 2007 : 30 825
December 2007 : 34 111

Banska Bystrica
January 2007 : 20 084
December 2007 : 33 884

Trencin
January 2007 : 21 272
December 2007 : 31 962

Summary :

1. As can be seen, no matter which city (except Bratislava, of course) they all converged into price around 31 - 34 K/m2 at the end of 2007.

2. 100% growth for Kosice and Presov in 2007

There is also a discussion related to this article where local people are presenting their feelings/opinion about future price growth for 2008. It is widely believed among them that prices will still grow (opinions are from 10 to 25%) in 2008, as many people in slovakia are currently feeling uneasy about planned adoption of euro currency on the beging of 2009, and they want to invest their money into property which they believe will hold the value.

However, many local people also do believe that shortly after beginning of 2009 there will be shorter stagnation (maybe 6 months or so) of price growth as those willing to invest into properties because of euro adoption/eventual money laudering/inflation fears/ are going to do so before start of 2009.

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Tags: Slovakia Property, Kosice Property, Bratislava Property, Trnava Property, UK Property
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Huw RE: Slovakia price growth
Posted: Jan 14 08 14:33
Total Posts: 194
Users Rating:

Thanks Marek, very interesting. Is there any comment about the rental market as that's the issue which concerns most of us with property in Slovakia?

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Tags: UK Property, Slovakia Property
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