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Price indices of dwellings in the 1st quarter of 2024
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Price indices of dwellings in the 1st quarter of 2024

Last update: 31.05.2024
Ilustratívny obrázok/Illustrative image
Publisher: Statistical Office of the SR
Topic: Macroeconomic statistics
Domain: Consumer prices and prices of production statistics
Publish Date: 31.05.2024

Residential property prices also decreased on average at the beginning of 2024, but this was not recorded in some regions

Residential property prices in the SR have started the year 2024 both with a quarter-on-quarter and year-on-year decline. At the national level, older, i.e. existing dwellings recorded a more significant year-on-year decrease in prices. On average, prices of dwellings were lower than a year ago in half of the eight regions.

Residential property prices in Slovakia decreased quarter-on-quarter by an average of 1.7% in the 1st quarter of 2024, the decline was recorded after two quarters. Compared to the 4th quarter of 2023, a decrease in prices was recorded in both types of dwellings, while the more dynamic decline at the level of 2.1% was in new dwellings1). Prices of existing dwellings2) fell by 1.7%.

The trend of quarter-on-quarter price reduction was reflected in most of the 8 Slovak regions, but the development in the regions differed considerably. In total, in 3 regions of Slovakia, prices decreased in both types of residential property - both existing and new dwellings. In another 3 regions, only prices of older dwellings were lower, and in 2 regions, on the contrary, prices rose in both types.

The most dynamic price reduction was recorded in Bratislavský kraj, where prices of older properties decreased by 6.7% and for new houses and flats even by 8.7% compared to the prices at the end of 2023. Trenčiansky and Prešovský kraj also recorded a decline in prices of both types, prices of new dwellings decreased more dynamically.

At the same time, in Trnavský, Nitriansky and Banskobystrický kraj, prices of older houses and flats fell, but prices of new ones rose. An interesting development was recorded in Nitriansky kraj, where older properties declined quarter-on-quarter by almost 11%, but prices of new properties increased by more than 5%.

The opposite trend continued in Žilinský and Košický kraj, where residential property prices increased in both older and new dwellings.

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Development of property prices in year-on-year comparison

The price reduction of residential property, i.e. the decrease in residential property prices, was also recorded in the reference year-on-year comparison. On average for the SR, prices of houses and flats were lower by 2.8%, the decline continued for the fourth consecutive quarter. This situation during the 1st quarter was significantly affected by the drop in prices of new properties, which were currently lower than a year ago by 3.6%. Prices of existing properties decreased year-on-year by 2.6%.

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In a long-term comparison (compared to the average of 2010 - basic index), residential property prices rose by 80% in the 1st quarter of 2024.

The development of residential property prices in 8 regions of the SR within the year-on-year comparison was fluctuating. In total, 4 regions reduced prices in both older and new dwellings year-on-year, in 1 region the price reduction affected only older dwellings, and in 3 regions the current prices for both types of residential property were higher.

Among the 4 regions with declines in all types, Bratislavský kraj recorded the most significant price decrease, where prices of older dwellings fell year-on-year by 8% and new ones by 9%. It is a region with a high share of the entire market of sales. Trnavský kraj also recorded a more significant decrease in prices, where prices of new residential properties decreased year-on-year by more than 11%. Even in Nitriansky and Prešovský kraj, prices of houses and flats were lower than a year ago, but it was true that more dynamic declines were recorded in older properties.

Žilinský kraj was the only region where contradictory year-on-year development trends were recorded in old and new dwellings. Prices of new dwellings were slightly lower (by almost -6%), but prices for existing properties rose by 6%.

Among the regions in which current sales prices were higher year-on-year in both monitored types of property, more dynamic price increases in new properties were recorded in Trnavský and Košický kraj. On the contrary, higher increases, especially for older (existing) properties, was registered in Banskobystrický kraj.

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  • 1) new dwelling is a dwelling whose first entry in the Real Estate Cadastre was made less than three years ago
  • 2) existing dwelling is a dwelling whose first entry in the Real Estate Cadastre was made more than three years ago

Data source-DATAcube. Database:

Outputs on the topic of realized prices of dwellings

The Statistical Office of the Slovak Republic publishes realized sales prices also at the level of eight regions (the data are attached in the annexes) from the 2nd quarter of 2022. It was thus responding to the demand of users for data on the situation in the regions of the Slovak Republic. The expansion of the data was enabled by the transition to a higher quality and more extensive source of data on prices from shops registered directly in the Real Estate Cadastre.

Since the 2nd quarter of 2021, the Statistical Office of the Slovak Republic draws data on realized prices of dwellings from contracts registered in the Real Estate Cadastre, i.e. from prices obtained from actual sales recorded by the Cadastre (database managed by the Geodesy, Cartography and Cadastre Authority of the Slovak Republic/ GCCA SR). The new data source captures all transactions related to the sale of real estate registered in a given quarter in the Cadastre. A higher quality and significantly larger range of data (several times more transactions) from all 79 districts of the Slovak Republic than in the previous period was thus achieved.

More detailed statistics on prices of dwellings are also published quarterly by the National Bank of Slovakia (NBS), which works with offer prices from advertising obtained from the Real Estate Price Map created by selected entities in the real estate market.

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  • Statistical Office of the SR
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  • 840 05 Bratislava 45
  • Slovak Republic
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While publishing of the whole information report or its parts, please state the source of information, the Statistical Office of the Slovak Republic. The Statistical Office of the SR creates high-quality statistics useful for society according to 16 principles regarding the institutional environment, statistical processes and outputs in line with the Code of Practice for European Statistics.

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