Demand for new apartments has rebounded and been growing for the second consecutive quarter, with the greatest interest in two-bedroom new-builds

The number of new apartments sold increased by more than 100% compared to the same period last year.
The average age of buyers has increased with the requirement for a greater proportion of own funds.
The secondary market is on the rise again after 4 months.
The supply on the rental market has increased; in April the average rental price in Bratislava was €1 023.

Positive sentiment stemming from the vision of falling interest rates, coupled with prices bottoming out in property sales, encouraged buyers and sellers alike. As demand grows, property prices are slowly starting to rise and supply is expanding.

According to Herrys’ data, the new-build market in the capital city currently offers 3 124 apartments across 104 projects. The largest supply is in the category of two- and three-bedroom apartments, accounting for 71% of properties on offer (more than 2 200 apartments).

New apartment sales are rising, with interest particularly in 2-room+kitchenettes

The number of new apartments sold increased by more than 100% compared to the same period last year and by 60% compared to the end of 2023.

Sales of new apartments have also increased compared to the average for the last two years. Most of the new apartments were sold in the 2-room+kitchenette category, although demand does not quite copy supply.

(Sold apartments: Demand for apartments / Linear (demand for apartments) / Two-period running average (demand for apartments))

“The largest group of buyers consists of people looking to require their own housing, whether they are moving from a smaller to a larger home, vice versa, or from an older to a new one. Investors, who had left the market when price growth halted, are gradually returning as confidence in property investment grows due to falling loan interest rates. The average age of buyers has increased, with the requirement for a greater proportion of own funds. Often, the buyer is selling an older apartment to finance the purchase of a new one,” explains Filip Žoldák, co-owner of Herrys real estate agency.

Current prices of new apartments in Bratislava

The price of new apartments in Bratislava has increased year-on-year in all districts except Bratislava V, with an average price rise of 5.5%. The most significant price increase has been recorded in the Old Town, followed by Bratislava II district, which includes Ružinov, Vrakuňa, and Podunajské Biskupice. The average price of new apartments is currently 4 105 €/m² exclusive of VAT.

(Current prices of new apartments in Bratislava)

The average price of apartments in projects with recorded sales stands at 4 000 €/m² exclusive of VAT. New apartments added to the market are priced around this average level, with the cheapest apartments available for less than 2 500 €/m² exclusive of VAT.

The analysis of the current situation in the new-build market is prepared by Herrys real estate agency in collaboration with the portal sledujbyty.sk.

Ideal time to buy

The current market for newbuilds is still motivated by multiple benefits, marketing promotions, or discounts. The increasing number of unsold completed apartments motivates developers to negotiate with potential buyers.

“The wide supply of new apartments and the stock of unsold apartments in Bratislava represent an ideal opportunity for buyers in terms of the quality of the offer, price development, and financing options,” adds Filip Žoldák.

Prices of older apartments also rising

The real estate market revival is also confirmed by a slight growth in prices of older apartments. The price per m² is currently at the level of September last year. Although it has fallen by 1.4% year-on-year, it is currently on an upward trend and currently stands at 3 679 €/m². In Bratislava IV district the price per m² has increased by 1.7% to 3 417 € and in Bratislava I it has decreased by almost 1% to 4 689 €/m². The breadth of supply has remained steady at the level of the beginning of this year, with 3 780 older apartments currently on offer.

(Secondary market BA – price per m²)

The second district of Bratislava is seeing the most apartment sales due to the largest supply of older apartments available here, with stable and attractive Ružinov also falling into this district. The average price of apartments here is the highest after the typically most expensive Old Town. The cheapest apartments can be found in the fourth (BA IV) and fifth (BA V) districts.

(Quarter / Number of apartments on offer / Average price per m² – apartments)

Secondary market sees only a slight increase in rental apartments

The average rental price has grown by 2.2% month-on-month, roughly €23, returning to the level of the beginning of this year. In April, the average rental price in Bratislava was €1023. The price per m² has increased most significantly year-on-year in the third district of Bratislava, by 11%, from 11.60 €/m² to 13.10 €/m². The supply of apartments for rent in Bratislava III has been falling for a long time and is currently the lowest since January 2023, with only 217 apartments available for rent. Conversely, the supply in Petržalka has been expanding, with the number of apartments for rent rising by 8.5% and 234 apartments currently available. The supply remains steady and after a fluctuation in March has returned to the level of the beginning of this year. The current supply of apartments available for rent totals 1 893.

“In terms of the last two years, we have seen increased demand for rental housing, primarily due to the availability of financing for home ownership. This market, in contrast to newbuilds and sales on the secondary market, has seen supply halve and prices increase by 30%,” says Filip Žoldák.