Mar 10 • 16:13 UTC 🇸🇰 Slovakia Postoj

The Housing Crisis Continues / Record Low Number of Apartments and Many Properties Are Only for the Rich

The housing crisis in Slovakia is worsening as the number of completed apartments has reached a record low, making home ownership increasingly unattainable for most people.

In Slovakia, particularly in Bratislava, owning a home has become an unreachable luxury as confirmed by Prime Minister Robert Fico, who noted that reliance on the free market will not resolve the housing issues. Data shows that the demand for apartments remains high, with listings disappearing from online platforms within days due to a low supply. According to the latest statistics from the Office of Statistics, only 14,259 apartments were completed in the past year, marking the lowest figure since 2004. This represents a nearly 20% decrease year-on-year and a 25% drop compared to the ten-year average. The most significant decline occurred in the Bratislava region, where new apartment construction decreased by 46% compared to the previous year. Besides Bratislava, the Košice and Trnava regions also experienced significant downturns in new apartment completions. Conversely, the Nitriansky region is the only area that has seen an improvement, which suggests a significant regional disparity in the housing market. The overall shortage of apartments exacerbates the affordability crisis, with many properties now being predominantly accessible only to wealthier individuals, thereby increasing socioeconomic divides within the population.

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