Supply of new apartments can not keep up with demand
Only 2,900 new apartments were on sale in Bratislava at the end of 2018, the lowest number since 2002-05, according to data of Bencont, a developer. In the final quarter of 2018, developers only brought 250 new apartments to the market, while demand remained strong. Some 760 new apartments were sold, which is the lowest number in four years, and 30-50% less than in 2015-17. Weak supply means rising prices, as the average price of new apartments on offer came to €2,907 per sqm (inclusive of VAT) at the end of 2018. This was up 5.5% on a quarterly basis, and 11.5% more under an annual comparison. The absolute apartment price was 15% higher annually, at €193,000, as the average apartment size rose to 69 sqm, up from 63 sqm in 2016. Bencont says mid-range apartments are in short supply, while the supply of luxury apartments is adequate.