Property prices in Slovakia are rising at a much faster pace than elsewhere in CEE

House prices globally are currently growing at their sharpest rate since before the financial crisis of 2008, with Slovakia seeing the fourth fastest increase among 55 countries included in the latest Global House Price Index published by the real estate agency Knight Frank.

Prices globally grew 7.3 per cent on average in the first quarter of 2021, the strongest pace of growth since the fourth quarter of 2006.

The strongest growth was in Turkey, up 32 per cent, followed by New Zealand at 22.1 per cent. Third was Luxembourg with 16.6 per cent and then Slovakia’s 15.5 per cent. Fifth place went to the US with growth of 13.2 per cent, its most significant since December 2005.

Elsewhere in the Visegrád region, price growth in Czechia and Poland was around nine per cent and in Hungary just 1.8 per cent.

Residential property prices in the Slovak capital Bratislava jumped during the Covid-19 pandemic, driven up by strong demand, low supply of residential real estate at reasonable prices, and cheap mortgages.

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Source: EMERGING EUROPE