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Slovakian house prices fall
Property prices in Slovakia fell during the first quarter of 2009, new research has revealed.
Figures from the National Bank of Slovakia show that the price per square metre of residential property stood at €1,413 (£1,245) in the first quarter.
This is down from the €1,479 recorded during the fourth quarter of last year.
The figures also found that the average price of flats fell from €1,521 to €1,447 per square metre between the same periods.
Matej Galata, the head of the residential real estate department at CB Richard Ellis, told the Slovak Spectator: "The current situation may be described as a significant deceleration of the market.
"This applies to all segments, including the sale of apartments, the initiation of construction on new projects, and general activities in the residential real estate market."
Further findings from the study revealed that the largest reductions have been recorded in eastern Slovakia - in the Presov and Kosice regions.
The smallest reductions were recorded in Banska Bystrica.
