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Development of dwellings´ prices in the 1st quarter of 2021

Development of dwellings´ prices in the 1st quarter of 2021

Last update: 31.05.2021
Ilustratívny obrázok/Illustrative image
Publisher: Headquarters Bratislava
Topic: Macroeconomic statistics
Domain: Consumer prices and prices of production statistics
Publish Date: 31.05.2021

Exercise prices from the sale of dwellings slowed down the year-on-year growth, they even decreased compared to the end of last year

The dynamics of growth of exercise prices of dwellings slowed down significantly during the 1st quarter of 2021, and the prices at which real estates were actually sold were higher by 2 % year-on-year. The growth rate of prices was lower than during 2020, when price increases in individual quarters ranged from 7,3 % to 13,1 %.

The trend has also changed, while the long-term higher price increases have been reached by the existing properties before the new ones, the current situation has changed. Significant growth during the first quarter of 2021 was reflected mainly in new dwellings, which were higher by 2,6 % year-on-year. With the existing dwellings, the growth reached 1,5 %. In both cases, these are the lowest values in the last five years.

The above data are from exercise prices of dwellings, i.e. from prices obtained from actual sales and transactions made through real estate agencies, whose data are entered into the database of the real estate price map of the National Association of Realtors (NAR) (methodology). More detailed statistics on the dwelling pieces are also published quarterly by the National Bank of Slovakia (NBS), which cooperates mainly with offer prices from advertising.

In a quarter-on-quarter comparison (compared with the 4th quarter of 2020), the exercise prices decreased by 1,2 % compared with the end of last year, while the decrease of prices was last registered 11 quarters ago. Both new and existing dwellings recorded a decrease, while a more pronounced drop was reflected in case of older dwellings. Exercise prices of the existing dwellings decreased in total by 1,7 % compared to the 4th quarter of 2020 and prices of new dwellings were lower by 0,4 %.

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