House prices up 3.34% y-o-y in 2019
House prices in Slovakia rose by 3.34% in 2019 from a year earlier, from y-o-y rises of 5.36% in 2018, 2.93% in 2017, 6.59% in 2016, 2.71% in 2015 and 0.7% in 2014. Though in Q4 2019, residential property prices were down slightly by 0.5% from the previous quarter.
Demand remains strong.
Property demand continues to rise both from local homebuyers and foreign investors, according to local property experts.
During 2019, the total outstanding amount of housing loans rose by 9.7% to €31 billion (US$33.63 billion) from a year earlier, according to the European Central Bank. Despite this, Slovakia still has one of the lowest mortgage-debt-to-GDP ratios in the EU, at about 32.7% of GDP in 2019, far lower than EU 28’s ratio of about 50%.
Rents, rental yields; moderate yields at 4.53%
Bratislava apartment costs are low at around €2,911 per sq. m.
|Slovak Rep.: typical city centre apartment buying price, monthly rent (120 sq. m)|
|Buying price||Rate per month||Yield|
|Bratislava||€ 349,320||€ 1,320||4.53%|
Recent news: In 2019, the Slovak Republic’s economic growth eased to 2.3% from a year earlier, down from a 4% growth in the prior year, according to the European Commission. In fact, it was the lowest reading since 2013. The economy is projected to expand by 2.2% this year and by another 2.6% in 2021, based on EC projections.