Demand for land near Bratislava is high, prices are rising

    BRATISLAVA - The demand for building plots for family houses has significantly increased in the vicinity of Bratislava in recent years. The relocation of people to the outskirts of the Slovak metropolis has been supported by the expansion of mortgage loans, which have broadened the options for financing one's own housing, real estate agents interviewed stated. They agreed that land prices have increased severalfold in some areas.
    "People are trying to exchange apartments for family houses. The demand for plots is also boosted by the great availability of mortgages," said Roman Michálek from the real estate agency Taurito to ČTK. Clients are particularly interested in plots in the vicinity of the Slovak metropolis, where plots are cheaper than directly in Bratislava. "If there were twice as many plots offered, they would sell," he added.
    Even in villages or satellite towns with good access to Bratislava, land prices have significantly increased. "In 2000, a square meter in Čierna voda cost 900 Slovak crowns; gradually the price has risen to the current 3000 crowns per meter, including utility networks," noted the agent. The rising land prices are indeed due to the multiple increase in demand.
    According to Michálek, the new value-added tax (VAT) law, which took effect simultaneously with the country's entry into the EU, has also influenced prices. Since May of last year, larger companies must remit VAT to the state when selling building plots. As a result, plots have automatically increased in price by about a fifth.
    "People are mainly interested in smaller plots, between 550 and 650 square meters, that is up to 1.5 million SK. Clients are being sold plots that are already connected to utilities," he noted. Plots for building houses are especially available in Čierna voda or in Dunajská Lužná in Rusovce and Záhorska Bystrica.
    According to real estate agent Nicol Brtvová from the Revenant agency, construction is taking place more in the surroundings of Bratislava than in the city itself. "Finding a suitable plot in Bratislava is harder than in its surroundings," she emphasized. In the metropolis, plots are selling mainly in the outer parts; for instance, in the city district of Rača, a plot can cost up to 6000 crowns per square meter. In lucrative locations, such as under Slavin, a square meter costs 10,000 to 15,000 crowns, and some sellers even demand more.
    "People reconsider whether they will pay off an apartment in a new building for three or four million crowns, or build a house in the vicinity of Bratislava," the agent speculated about the greater interest of people in plots.
    The villages around Bratislava are experiencing a construction boom, according to ČTK findings. In new locations, hundreds of family houses and apartments are being added, practically in all municipalities within 20 kilometers of Bratislava. For a square meter of land with utility networks, interested parties must pay around 2000 crowns, sometimes even half more.
    Building plots are reportedly selling well according to real estate agents. Developers are not complaining about a lack of client interest either. For example, according to data from the CV Invest company, which offers over 130 plots including turnkey houses in Čierna voda near Bratislava, only about twenty plots are still available for interested buyers.
    The construction in Bratislava and its surroundings is also supported by the purchasing power of the population, which is the highest among all regions in the country, according to economists. Some people are reportedly choosing to buy real estate because they expect a higher return on their savings than in a bank.