Slovakian House Prices Fall for Third Consecutive Quarter
06 August 2011
Slovakian house prices fell for the third consecutive quarter in Q2, dropping 0.6% on the quarter, and 2.9% on the year, according to central bank data. The body put the decline down to government austerity measures denting demand and employment's failure to recover.
According to the data the average property price fell to from 1,264 Euros per square meter in the first quarter, to 1,256 Euros per square meter in the second quarter.
Slovakia's residential property market is struggling to recover from the 2009 recession in the face of government austerity measures suppressing demand, and continued depression on the employment front. The average house price is now 19% lower than the Q2 2008 peak.
Prices varied from 618 euros a square meter in the Nitra region of western Slovakia, to 1,682 euros in the capital, Bratislava, according to the Central Bank data.