Will real estate prices continue to drop, rise, or remain stable? Until when?❔❓
This is currently the most common question from our clients.
This year, real estate prices have dropped by more than 10% on average compared to last year.
However, this is an average—some areas and types of properties (e.g., older panel apartments) have seen price drops of 15-20%.
Predictions from the National Bank of Slovakia (NBS) do not indicate that the slight price decline will stop.
For next year, a continued slight decrease or price stagnation is expected.
One of the reasons is that mortgage interest rates will not decrease in the first half of 2024.
At its last meeting, the European Central Bank (ECB) did not raise interest rates.
However, a drop in interest rates is not expected either—it is more likely that they will remain at their current level, around 5%.
- If you are planning to buy a property, you will still be able to get a good deal in the next six months.
- This is also a great opportunity for investors with cash or those who do not require a high loan.
- From a long-term perspective, real estate investment is always profitable. On average, property values double in about 10 years.
Ing. Ľubomíra Lacková, kluc@kluc.sk
ECB:
National Bank of Slovakia Analysis:
NBS: Real Estate Prices Are Falling
#NBS #cenynehnutelnosti #uroky #reality #realitnakancelaria #KlucRK