Slovak property prices fall in Q1

Sustainability

Slovak residential property prices fell 0.6% in the first quarter after two consecutive increases as rising unemployment depresses demand for housing, the central bank said. The average price for residential property declined to €1,240 ($1,623) per square meter (10.8 sq.ft.) in the first three months of 2013 from €1,247 in the fourth quarter of last year, the National Bank of Slovakia said Tuesday. Prices gained 0.4% on the year. The average price of residential property is 20% down from a peak reached in the second quarter of 2008. Prices varied from €588 a square meter in the Nitra region of western Slovakia, to €1,670 in the capital, Bratislava.

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