Bratislava’s new construction market slows, sales drop 60% in early 2025

Following a strong end to 2024, the new construction market in Bratislava experienced a marked slowdown in the first quarter of 2025. According to real estate data provider BuiltMind, 527 new residential units were sold during the first three months of the year, including 501 through public sales. This represents a 60% drop in total transactions compared to the final quarter of 2024.

Despite the decline, demand remains relatively high—comparable to the most active periods seen during the pandemic. The market supply has remained stable, with approximately 3,200 units available, similar to levels recorded at the end of last year.

The absorption rate, which measures how quickly properties are sold, dropped from a record high of 25% to around 16%. While this indicates a slowdown, it still marks the second-highest rate since mid-2022. Meanwhile, average listing prices have continued to rise, reaching €5,400 per square meter—up nearly 4% from the previous quarter.

Martin Decký, CEO of BuiltMind, described the drop in sales as expected following the end-of-year surge and the introduction of higher VAT rates. He noted that smaller apartments, particularly 1+kk units, recorded the highest prices, surpassing €5,600 per square meter, with many selling above €6,000. Larger units, such as 4+kk apartments, maintained an average of €5,000 per square meter, though prices in premium locations climbed as high as €7,100.

Analysts are observing a “two-speed” trend in the market. Higher-quality developments in sought-after locations continue to command strong prices and may see further growth. In contrast, more standard projects are facing increased competition and may need to adjust through pricing strategies or hybrid models, such as mixing sales with long-term rentals or cooperative housing formats.

Cresco Real Estate led the market in sales with 65 units sold, followed by Penta Real Estate with 47 and YIT with 42. Downtown Yards by JTRE was the best-selling project, recording 32 sales. Other strong performers included Bory, Kvarter, and Cherry.

Smaller units continue to attract the most interest. One-room and two-room apartments accounted for nearly 70% of all sales. Over the past year, 52% of 1+kk units offered on the market were sold, with those under 30 square meters showing the highest turnover.

Decký emphasized that today’s market is increasingly selective, with buyers prioritizing compact, well-designed apartments, often for investment purposes. These units tend to sell the fastest.

Looking ahead, BuiltMind expects quarterly sales in Bratislava to stabilize between 550 and 750 units, with average prices forecasted to reach €5,600 per square meter by the end of 2025, and potentially up to €6,000 depending on market conditions.

Source: BuiltMind and SITA