Will property prices continue to fall, rise or stagnate in Slovakia in 2024?
Until when?❔❓
The most frequent question currently from our clients. This year, real estate prices fell on average by more than 10% compared to last year This is an average. There are areas and types of real estate (e.g. older block of flats) where prices have fallen by 15-20%. NBS predictions do not indicate that the slight price decline should stop.
Next year 2024, a slight drop in prices or stagnation is expected. This is also due to the fact that in the first half of 2024, interest rates on mortgage loans will not be reduced. The European Central Bank did not raise interest rates at its last meeting. However, their decline is not expected, rather they are expected to remain at the level they are, around 5%.
If you are planning to buy real estate, you will definitely buy it at better prices in the next six months.
Investors with cash or those who do not need a high credit now have the opportunity.
In the long term, investing in real estate is definitely always a profitable matter. In 10 years in Slovakia, on average, its value will roughly double.
Ing. Ľubomíra Lacková, kluc@kluc.sk
ECB:
Analysis of the National Bank:
NBS Real estate prices are falling
