Bloomberg News

Slovak Property Prices Post Smallest Decline in Six Quarters

May 03, 2012

Slovak residential property prices fell by the least in six quarters as the euro-area country’s economy weathers the slowdown among its richer peers, the central bank said.

The average price for residential property declined to 1,235 euros ($1,625) per square meter (10.8 square feet) in the first three months of 2012 from 1,236 euros in the fourth quarter of last year, the Bratislava, Slovakia-based Narodna Banka Slovenska said today on its website. Prices fell 2.3 percent on the year.

The Slovak economy will probably grow 1.2 percent this year, the European Commission forecasts, compared with a stagnation in the neighboring Czech Republic and a recession in the euro region. Still, the average price of residential property is 20 percent down from a peak reached in the second quarter of 2008.

Prices varied from 620 euros a square meter in the Nitra region of western Slovakia, to 1,658 euros in the capital, Bratislava.

To contact the reporter on this story: Radoslav Tomek in Bratislava at rtomek@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net


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