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Slovakia’s house prices continuously increase
6 Jun
House prices in Slovakia increased by 4.53% during the year to Q1 2019, the Global Property Guide reports.

This increase follows y-o-y price rises of 5.27% in Q4 2018, 1.23% in Q3 2018, 1.68% in Q2 2018 and 2.41% in Q1 2018. Meanwhile, the last quarter saw residential property prices increase 0.79% in Q1 2019.

Local property experts revealed that demand for property is continuously increasing from local homebuyers and foreign investors. This is especially due to Bratislava’s low apartment costs of around €2,911 per sq. m.

Furthermore, the European Central Bank said that in March 2019, the total outstanding amount of housing loans increased by 10.9% to €28.2 billion from a year earlier; but Slovakia has retained one of the lowest mortgage-debt-to-GDP ratios in the EU.

Slovakia’s strong economic growth has further fuelled house prices. According to the Statistical Office of the Slovak Republic, the Slovak economy expanded by 3.7% in Q1 2019 from a year earlier, edging up slightly from the previous quarter’s 3.6% growth.

The European Commission revealed that the economy is also expected to grow by a further 3.8% this year, following annual growth of 4.1% in 2018 and 3.2% in 2017.

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