The problem of lack and unaffordability of housing, especially for young people, has grown in Slovakia in recent years. According to statistics, Slovakia is one of the five countries in Europe where young people leave their parents' homes at the latest. In this Monday's show, we dvelved into this problem and talked to several experts -- about its causes, possible solutions, and also about visions for the future.
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Over the past few years, property prices in these areas have skyrocketed, with some cities seeing double-digit percentage increases annually. For young people, especially those who are just starting their careers or have recently finished their studies, these prices are often out of reach. Even those with stable jobs often struggle to save for a down payment, because, as a real estate analyst Vladimír Kubrický says, the prices rise faster than wages. “The main problem when buying real estate or property is that their prices are disproportionately high compared to people's incomes. However, it is not only the price tags on apartments and houses that hold people back from buying real estate. Expensive mortgages also affect the situation. We know that 2-3 years ago people borrowed money from the bank at 1%interest, today they are lucky if they get below 4%. This plays a big role because these higher interest rates increase the monthly mortgage payment by tens of percent. Compared to the situation two years ago, real estate did not become significantly cheaper. Therefore, young people often look for rental housing or other housing alternatives in Slovakia.”
