Feb 17 • 05:27 UTC 🇸🇰 Slovakia Denník N

Economic News Filter: When Will Comparison with Albania Come?

The article discusses the rising housing costs in Slovakia and the government's response to the housing crisis, highlighting the lack of effective state schemes to address the issue.

The article sheds light on the growing concern over housing affordability in Slovakia, which has been a topic of discussion among both the ruling Smer party and the opposition Progressive Slovakia (PS). Prime Minister Robert Fico plans to attend a conference focused on rental housing, acknowledging that this is a key issue. Despite the government's efforts, the state housing scheme has only resulted in a single project near the Bratislava airport, which, due to high rental prices, has only filled about a quarter of its capacity since last April. With property prices rising by 12% last year, the issue has become critical for many citizens.

The opposition party PS argues that it should not be economically viable to hold vacant investment properties while the housing crisis continues to escalate. The Ministry of Finance under the current government had considered increasing property taxes as a means to address the issue, although no substantial proposals have emerged from the coalition. This ongoing debate over housing costs reflects broader trends seen in other countries with more developed economies, where similar housing issues have influenced election outcomes, as noted by Spanish newspaper El País. There, housing topics were significant in the results of presidential elections in Ireland and parliamentary elections in the Netherlands, as well as mayoral elections in New York.

As the housing crisis persists, it is clear that the issue will remain at the forefront of political discussions in Slovakia. The government and opposition are urged to take more assertive steps to ensure housing becomes more affordable for the public. Ignoring the problem could have serious political ramifications, as evidenced by other nations where housing issues have led to significant electoral shifts. Stakeholders and policymakers are pressed to prioritize housing strategies that promote accessibility and affordability to avert a similar scenario in Slovakia.

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