The residential market in Slovakia has almost stopped. The top ten Slovak developers have sold a total of fewer than 800 apartments in Slovakia, as 2023 figures are showing in the ranking on Index.sme.sk.
Developers experienced difficult months. The year 2023 was marked by the growth of interest rates on mortgages, inflation, but also the waiting of buyers. The ranking was compiled according to the data provided by the companies themselves. The main criteria for determining the ranking were the area of projects under construction at the end of 2023, the area of completed residential projects and the number of apartments sold in the past year.
Top positions were taken by Lucron, JTRE and Cresco. Lucron delivered 166 approved apartments in 2023. In the previous two years, there were a total of 537 apartments in this category. There were 553 under construction and it managed to sell 96 units. Compared to last year, it jumped up by two places in the rankings. Arboria in Trnava and Vydrica and Nesto in the capital are its stars on the market. In the coming years, Lucron plans their next stages. The project of Rakyta is also waiting for the start in the Devínska Nová Ves district of Bratislava.
One place higher is J&T Real Estate. In 2023, it managed to get the approval for more apartments than in the previous two years combined, 504 compared to 457 units. The pipeline under construction shows 477 apartments. 60 apartments were sold. Overall, J&T Real Estate defended its position from last year. This was helped by the approval of the Eurovea Tower project, which, with a height of 168 m, is the first Slovak skyscraper.
Cresco Real Estate has been ruling the Slovak residential market for a long time, confirming its position from the previous year. Last year, Cresco delivered 382 approved apartments compared to 398 in 2021 and 2022 together. The developer has another 2,069 units under construction and managed to sell 100 apartments last year. The numbers of Cresco are mostly drawn by Slnečnice on the south side of Petržalka.
