Renting is cheaper than buying
Someone wanting to buy the smallest old apartment in Bratislava needs a net salary of at least €1,500 to be able to repay a 30-year mortgage for 80% of the property value. Their own funds must cover the remaining 20%. The slower rise in rents than mortgage rates over the past year has made renting an apartment cheaper than paying off a mortgage, including utility bills. The average rent for a one-bedroom apartment including utilities outside the center is €520-600, while the mortgage payment for a €110,000 apartment is €550 plus utilities.
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