After an expected slowdown associated with the VAT increase in Q1 2025, the Bratislava residential market has picked up again, reports BuiltMind in cooperation with the consulting company Cushman & Wakefield.
In the second quarter of 2025, 797 apartments were sold in public sale, which represents an almost 60% increase (almost 300 apartments) compared to Q1 2025.
This is the second strongest quarter in the last four years. The average asking price is only gradually increasing to €5,499/sqm, while the available supply remains stable at around 3,250 units. Most sales are concentrated in the price range of €200,000 to €400,000, with the more luxurious segment growing at a slower pace. This trend is also confirmed by the best-selling projects, mainly in the outskirts of the city.
A strong second quarter, in which every fourth apartment from the total supply was sold, returned the absorption rate to the long-term average of 25% (24.6% for the second quarter). This is the second-highest value in the last 3 years.
“From the perspective of the long-term average, this is an exceptionally strong quarter. After a record fourth quarter and an expected decline in the first quarter, such a significant increase in sales was unexpected and practically equalled the record statistics from the end of last year,” says Martin Decký, CEO at BuiltMind.
The highest unit prices were recorded for 1+kitchen corner apartments, which exceeded €5,750/sqm, with a large part of the supply already being sold for significantly above €6,000/sqm. 4+kitchen corner apartments and larger have maintained price stability around €5,000/sqm, but in premium locations prices are rising to €7,100/sqm – especially in the Old Town.
In terms of total sales (public and private), Cresco Real Estate dominated with 89 units sold, followed by Penta Real Estate (87) and ITB (72). The best-selling projects were the newly launched Bory Nádvorie (45) and Čerešne Plaza (ITB) with 44 sales, while the Downtown Yards, Matadorka Living and Slnečnice – Nové Viladomy projects also had strong results.
The base interest rate has already fallen again to the current value of 2.15% and, according to ECB surveys, a further decline to 2% is expected by the end of 2025. This is partly reflected in the decline in mortgage interest rates in Slovakia, which have fallen by an average of 0.30% since the beginning of the year, with some banks offering rates below 3.40%. Falling interest rates in the mortgage market support the growth of housing loans, which is also reflected in the growing sales of new buildings.
"Over the last six to nine months, several new projects have been added, which immediately became among the best-selling. Construction is concentrated mainly in the peripheral parts of Bratislava, with the most sought-after being smaller apartments, especially 2-bedroom apartments. The combination of a peripheral location, smaller area and a decrease in interest costs makes smaller apartments more affordable for a wider group of the population," says Lukáš Brath, Senior Analyst at Cushman & Wakefield Slovakia.
