NBS: Real-estate Prices Continued to Grow in 1Q25, Flats More Costly Than Ever

Bratislava, May 6 (TASR) - The prices of residential real estate in Slovakia increased by 4 percent in the first quarter of this year when compared to the previous quarter, according to the latest statistics published by Slovakia's central bank (NBS) on Tuesday. The year-on-year (y-o-y) growth in residential real-estate prices reached 11.4 percent. The average price grew by €104 per square metre to €2,700 per square metre, stated NBS, adding that flat prices thereby hit an all-time high. "The most significant price increase occurred between December and January and mainly concerned older flats. Flat prices are already at a higher level than in 2022. From the regional viewpoint, Bratislava and Kosice regions dominated price growth, while Nitra and Zilina regions posted moderate drops. The volume of offers increased for the first time after three quarters of decline, and mainly concerned houses," said NBS analysts. According to the latest statistics, the average price of flats at the beginning of this year hit a record of €3,041 per square metre, an increase of 5 percent (€145 per square metre) from the previous quarter. The most rapid growth was reported for one-bedroom flats. The average price of houses in the first quarter grew by 2.7 percent (€53 per square metre) quarter-on-quarter. The prices of houses also grew at an accelerated rate to reach €2,031 per square metre. NBS analysts pointed out that the percentage difference between the prices of new and older real estate narrowed surprisingly in the first quarter. The prices of new flats rose by 3.4 percent, while those of older ones grew by as much as 6 percent. "The most significant price growth was again seen in Kosice region (5.7 percent) and it was only slightly lower in Bratislava region (5.1 percent). The price growth was driven primarily by flats in the cities of Bratislava and Kosice themselves," stated analysts, adding that the growth in Bratislava can mainly be ascribed to the prices of older flats. ko/df