Housing Prices Down 2.3% Year-on-Year

Housing prices in Slovakia are dropping slowly according to an article by TASR newswire today.

The newswire cites CSOB analyst Marek Gabris as saying the housing market is now stabilising, basing his statement on the recent report from the National Bank of Slovakia, which reports that the mean price of a square metre of property in Slovakia had dropped by about EUR 1 in 1Q 2012.

The latest figures mean prices fell by around 2.3% year-on-year to reach the current average level of EUR 1,235. The property market is experiencing a certain stagnation just now as people tighten their belts for the future and so the market will depend very much on economic developments.

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