House prices stopped to grow

The prices of new apartments in Bratislava were still 20% higher annually in the third quarter, but rose by just 0.4% compared to 2Q, according to data from developer Bencont. The average price of vacant new apartments was €4,899 per sqm including VAT. The number of new apartments for sale rose by 33% compared to 2Q to 2,418, which signals a steep drop in demand. Just 250 apartments were sold in 3Q, down 60% annually. More expensive and less affordable mortgages are behind the change in market sentiment, as the looming recession has not yet caused an increase in unemployment or reduced wage growth. Bencont still does not expect a drop in prices, due to limited supply.

(sme.sk)