Property prices in SK still have space to rise

Property prices of housing in Slovakia are lower than in 2/3 (two thirds) of other European countries which indicates potential for a possible faster growth in connection with gradual price convergence towards prices in the old EU member countries. As Mikuláš Cár from NBS further mentions in the latest issue of specialist bank magazine Biatec, future development depends on a number of factors. Growth of economic efficiency as a whole and the rate of sustaining average economic growth will be decisive. The development of property prices will also be conditional, according to analysts, on the economic development in the future period. “If nothing unexpected happens, such as a second round of the crisis, I expect Slovak residential property prices to be past their bottom,“ claims Michal Mušák, analyst at Slovenska sporiteľna.