Insufficient supply may prevent any major fall in apartment prices

Just 1,700 new apartments were on offer in Bratislava at the end of March, down from 4,500 in 2017, according to data of Bencont, a developer. In the first quarter, their prices rose 15% to €3,476 per sqm. Although the pandemic should push the prices down, Bencont says an insufficient supply will prevent any major fall in prices. The low supply stems from the city’s inability to issue permits for new projects. The projects that will be completed in the coming two years have already sold most of their apartments. Apartment prices in Bratislava are just 10% higher compared to 2008, while average wages are up 35%.

(sme.sk)