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Slovakia: no longer so attractive

The Slovak property market saw a dramatic increase in prices between 2004 and 2008, accompanied by strong appreciation of the Koruna against the Euro, in expectation of Euro adoption in 2009. Since then, dwelling prices have declined. Rents have also fallen significantly. The price falls seem to be coming to an end.

Buying prices for apartments in Bratislava 1, 11, and 111 are typically around 2,000 to 3,000 Euros per square metre, the highest prices being paid in Bratislava 1.

However, from an investment perspective the attractions of Slovakia are much diminished. Gross rental yields of over 10% in the heady days of 2004-2006 are no more. Now, the smallest central Bratislava apartment may yield 6.5%, but this is a very unusual figure. Gross rental yields of 4% are much more typical, and empty periods are commonly reported. In Bratislava 11 and 111, gross rental yields range between 4.5% and 6.3%.

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Comments

#1 MARK ABRAMOV | June 13, 2010

i think slovakia will experience a very strong fall on the prices of flats and on the rents. Bratislava or better slovakia is the only place in Europe with the highest prperty prices

#2 CHRISBTN | June 20, 2010

The yields listed are pretty accurate - I've just worked out the gross rental yield on my flat in Bratislava II (Ruzinov) and it's just under 6.5%.

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