The residential panel at CEDES conference opened the event with the main themes and questions:
– Impacts of the economic situation/inflation on the real estate market: market freeze, correction of sales prices, high construction costs
– (Un)available mortgages vs. institutional investors
– New trends in the residential market: from ownership to rental housing
– New trends in the residential market: ESG
– Shifts in demographic groups
Introduction to the panel:
After a feast comes a period of fasting—this is the current situation on the Slovak real estate market. Slovak developers have experienced one of the worst first quarters in the last 15 years. The rise in mortgage interest rates, together with high property prices, caused a significant drop in apartment sales in new residential developments.
Statistics reveal that up to a third of new projects in Bratislava didn’t record a single sale in the first quarter. In 2022, the total stock of Bratislava’s new builds came to 3,209 apartments in 75 new projects. In the same period in the preceding year, sales grew by a third.
Year-on-year, prices of new builds increased by 15.2 percent, which is higher than the level of inflation (12.8 percent). The average absolute price of Bratislava’s new buildings was EUR 296,000.
Residential Panel: How do buyers/renters view prime/secondry markets and what is the offset of losses
Katarina Lindbergh – Partner – Mint Investments
David Martan – Managing Director – Svoboda & Williams
Filip Žoldak – Partner & Co-Founder – HERRYS
Juraj Nevolnik – Managing Director Slovakia – Penta Real Estate
Ján Krnáč – Managing Director – CRESCO REAL ESTATE
Ivan Bratko – Head of Sales Department – J & T Real Estate
Full coverage will be available in the next issue of CIJ EUROPE.
