The residential development market in Bratislava is currently experiencing a boom, according to a report on the real estate industry in the Slovak capital by Slovakian research company Symsite Research . Although the levels of development are not comparable with the pre-1989 peak, the report says that both the number of developments and the size of developments continue to grow.
The residential development market in Bratislava is currently experiencing a boom, according to a report on the real estate industry in the Slovak capital by Slovakian research company Symsite Research . Although the levels of development are not comparable with the pre-1989 peak, the report says that both the number of developments and the size of developments continue to grow.
According to Symsite Research, some 3,800 new flats will be completed in Bratislava in 2008, compared to 3,100 flats in 2007. A further 2,500 flats will be under construction in 2008., although that number is expected to tail off thereafter.
Despite increased supply, demand is still high as the majority of developments are sold prior to final approval, according to the report. Lack of supply is also fuelling prices in the capital.The report notes that prices increased by 25% over the year in 2007 and Symsite Research estimates that they will increase by 10-15% per year in 2008-09.
