Construction starts have been declining four quarters

In the first quarter, 4,600 apartments were completed in Slovakia, up 12% annually, ŠÚ reported. Construction of only 3,700 apartments has started, down 15%. In Bratislava, the drop in construction starts was even 53%. Construction starts have been declining for the fourth quarter already. It seems developers are reacting to the increase in mortgage rates with reduced activity. This is set to prevent a fall in the prices of new apartments.

(hnonline.sk)