VUB bank: Property Prices Down 20% in Four Years

Property prices in Slovakia have been dropping steadily over the past four years, according to chief economist at VUB bank Zdenko Stefanides.

Speaking to TASR newswire, Stefanides said current prices were one fifth down on those from 2008. In 2011 prices of advertised properties fell by 2.7% year-on-year. Stefanide explained that the falling prices combined with lower interest rates for mortgages has created the chance for more people to buy a property.

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