Developments of Residential Property Prices in Slovakia
The property prices have a significant effect on household spending and indebtedness, the mortgage market, investment development and ultimately also on overall economic activity, overall price changes and global financial and monetary stability in the medium and long term.
From the view of financial stability, real estate is one of the main forms of security for loans. That is why a downturn in real estate prices together with a deterioration in the ability of households to make loan repayments could threaten the stability of the banking system and give rise to serious macroeconomic consequences.
The output compilations of prices for existing apartments and houses are made by the Statistical Office of the Slovak Republic on the basis of data provided by the National Association of Real Estate Offices of Slovakia.
Development of residential property prices in Slovakia - average prices in € per m2:
| Year | Price in €/m2 | Year 2002=100 | Y on Y change in % |
|---|---|---|---|
| 2013 1Q | 1240 | 209.5 | 0.4 |
| 2012 | 1237 | 209.0 | -1.1 |
| 2011 | 1251 | 211.3 | -3.1 |
| 2010 | 1291 | 218.1 | -3.9 |
| 2009 | 1344 | 227.0 | -11.1 |
| 2008 | 1511 | 255.2 | 22.1 |
| 2007 | 1238 | 209.1 | 23.8 |
| 2006 | 1000 | 168.9 | 16.8 |
| 2005 | 856 | 144.6 | -10.3 |
| 2004 | 954 | 161.1 | 15.4 |
| 2003 | 827 | 139.7 | 39.7 |
| 2002 | 592 | 100.0 | . |