Faster zoning changes and swifter permitting would help to cut apartment prices

The €250,000 price of an apartment in Bratislava includes the cost of the land (€50,000) and the 5-year permitting process (€30,000), said Milan Murcko, CEO of developer YIT Slovakia. The developer's gross profit accounts for 8% of the price. Thus, faster zoning changes and swifter permitting would help to lower prices, but the problem is the resistance of older and wealthier voters who already own homes and are against new construction. Increasing the productivity of construction firms would also help.

(forbes.sk)