SlovakiaCapital: Bratislava
Language(s): Slovak
Population: 5,402,273
Total Area: 49,033 km²
GDP (in billion USD): 96

The Slovak Republic is a landlocked state in Central Europe. It has a population of over five million and an area of about 49,000 square kilometers.Slovakia's housing market remains depressed, with the economy slowing and unemployment high. But house-price declines have been slowing. In fact house prices rose during the latest quarter.

Average Slovakian residential prices fell by 0.64% to €1,240 per square meter (sq. m.) during the year to end-Q3 2012, the lowest annual decline since Q4 2008, according to the National Bank of Slovakia (NBS). When adjusted for inflation, residential property prices fell 4.13% over the same period. As of Q3 2012, house prices are down by 20% (-28% inflation-adjusted) from the peak of the boom in Q2 2008.

The housing boom in Slovakia lasted from 2006 to Q2 2008, with rises ranging from 14% to 35% per annum. The surge stopped in late 2008, and since then prices have fallen continuously.

At end-October 2012, the total volume of provided mortgage loans in Slovakia was up by 5.94% y-o-y to about €6.33 billion, according to NBS.

 


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