Realized prices of dwellings rose by more than 10% in the 4th quarter of 2021
Prices of sales recorded in the cadastre of real estate continued to grow dynamically at the end of 2021, dwellings were sold more expensive by more than 10% year-on-year, and prices rose by 3.6% compared to the summer months.
Realized prices of dwellings continued to rise in the fourth quarter of 2021, but their growth rate slowed slightly compared to the third quarter. The prices, at which the real estate was actually sold, increased by 10.7% year-on-year. Price growth peaked at the end of the year, it was the highest of all the 2021 quarters.
In the same period of 2020, prices increased more slowly (a rise of 7.3%); in the same period two years ago, a growth was approximately at the current level (by 10.9%). However, last year's and older data were processed by the SO SR from a smaller sample of data from the Real Estate Price Map of selected real estate agencies. Since the 2nd quarter of 2021, the SO SR has been processing statistics on real estate prices from a comprehensive database of the cadastre of real estate in Slovakia.
High values of year-on-year growth were recorded in the fourth quarter of 2021, both in existing dwellings by 10.5% and in new dwellings by 10.9%. In particular, new real estate significantly boosted its year-on-year increase, they reported a growth of less than 6% in previous quarters.
Realized prices of dwellings increased by 3.6% quarter-on-quarter (compared to the 3rd quarter of 2021), the dynamics of quarter-on-quarter growth slowed down. Realized prices of dwellings increased by 4.1% compared to the 3rd quarter, and prices of existing dwellings slightly increased their growth rate to 3.2 %.
The data on realized prices for the 4th quarter of 2021 are processed on the basis of contracts directly from the cadastre of real estate, i.e. from the prices obtained from actual sales made according to the contracts registered by the cadastre.
Since the 2nd quarter of 2021, the Statistical Office of the SR began to use a new data source, the database of the Geodesy, Cartography and Cadastre Authority of the Slovak Republic (GCCA SR) - cadastre of real estate. It includes real estate prices from all transactions registered in the cadastre in a given quarter. The result is higher quality and a significantly larger range of data (several times more transactions than in the past) from all 79 districts of the SR.
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.
The Cadastre of Real Estate is a public register and also an information system containing the geometric determination, listing and description of real estate and data on rights to the real estate (property rights, liens, pre-emption rights, easements, tenancy rights, rights arising from the asset management of state, municipalities and higher territorial total).