Housing prices keep climbing in Slovakia and Czech Republic

In Slovakia, residential property values have more than doubled over the past two decades, fostering a belief that real estate is a risk‑free investment. Economist Vladimír Baláž of the Slovak Academy of Sciences notes that the labour market has shifted in favour of employees, who can now demand higher wages, and that foreign workers contribute about €1 billion annually to the state budget.

In the Czech Republic, new apartments in Brno have reached record prices, with the average price rising to 158,600 CZK per square metre, up from 131,300 CZK at the end of 2024. Analyst Dalibor Lamka of Trikaya reports that sales of new units increased despite tighter mortgage conditions, and developers are supplying a surge of new housing stock. He warns that higher interest rates and energy‑market uncertainties could affect future demand.