Housing construction at all-time low

Just 2,368 apartments were completed in Slovakia in 2Q this year, down 36% annually and the lowest 2Q figure since 2000, ŠÚ reported. Construction began on only 2,400 apartments, down 41% annually. A total of 4,849 apartments were added over the entire first half, 29% fewer than last year. Construction starts slumped 80% in Bratislava despite it being the largest and wealthiest real estate market. Developers are withholding new projects due to low demand concerns, though new home sales remain stable. Construction momentum has not been sparked by the new building law either. The slow construction pace will drive housing prices up.

(hnonline.sk, statistics.sk)