Bratislava’s older flats become more expensive as rents continue to rise

The prices of older flats in Bratislava increased by 8.8% in 2024, while rents have been rising for the third consecutive year, according to a report by Bencont Investments. The average unit price for second-hand apartments climbed to €3,821.67 per square meter, while the average rent, including utilities, rose by 9% to €17.02 per square meter.

Analysts highlight that Bratislava’s property prices are nearing their all-time high recorded in Q3 2022, when the average price reached €3,876.52 per square meter. Given the current upward trend, prices are expected to surpass this threshold in the coming months.

According to chief analyst Rudolf Bruchánik, prices increased across all districts except Staré Mesto, where a slight 0.8% price correction was recorded. While most segments saw price growth, new-build apartments experienced a 1.2% price decline. However, the overall average property price increased by 9.7% year-on-year, reaching €253,242 by the end of 2024.

Rental prices in Bratislava remained on an upward trajectory in the third quarter, with the average total rent, including utilities, reaching €1,051 per month by the end of 2024. The increase in rental prices was partly influenced by a reduction in the average size of rental properties, which shrank by 4% to 65 square meters.

Looking ahead, further price increases are expected, especially for second-hand apartments, which remain more affordable than new-builds. Higher VAT rates on new developments are also contributing to their structural price rise. Meanwhile, rents are set to climb further, as renting continues to be a key alternative for those unable to buy.

“We anticipate that prices of older flats will continue to rise, benefiting from their competitive advantage over new developments. Similarly, rental prices will likely follow an upward trend as they remain a crucial option for those seeking housing,” concluded Rudolf Bruchánik.

Source: Trend,sk