Construction starts have been declining four quarters
In the first quarter, 4,600 apartments were completed in Slovakia, up 12% annually, ŠÚ reported. Construction of only 3,700 apartments has started, down 15%. In Bratislava, the drop in construction starts was even 53%. Construction starts have been declining for the fourth quarter already. It seems developers are reacting to the increase in mortgage rates with reduced activity. This is set to prevent a fall in the prices of new apartments.
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