Price of housing sees 3.6% quarterly increase

The average price of housing in the second quarter of this year increased by 3.6% as compared to the previous quarter, while y-o-y prices continued their rise by 11.2%, according to the latest report of the Slovakia's central bank (NBS). "By far the highest growth was observed in the Kosice region, but on a y-o-y basis housing prices have increased in each region," said the central bank analysts, who predict a steep decline in macroeconomic indicators such as GDP, wages and disposable income due to the crisis. "The consequence of this development is a temporary but significant deterioration in housing affordability indicators. We expect these to be corrected in the future under the influence of improving economic development," add the NBS analysts.