Housing completions in Slovakia reach nine-year low in first quarter of 2025

Housing construction in Slovakia continued to slow in the first quarter of 2025, with the number of completed dwellings falling to its lowest level in nine years. According to data from the Statistical Office of the Slovak Republic, 3,119 dwellings were completed, representing a 24% decline year-on-year and a similar decrease compared to the average for first quarters over the past decade.

Most completions remained concentrated in family houses, accounting for 72% of the total. The slowdown was evident across six of the country’s eight regions, with Bratislava, Nitra, and Žilina regions recording the steepest year-on-year declines at 47%, 32%, and 30% respectively. Only Banská Bystrica and one other region reported an increase, largely due to the low base of comparison from the previous year.

In a long-term comparison, six regions also reported a decline against the ten-year average, with notable drops in Trnava and Nitra regions (over 25%) and Bratislava, where completions were less than half the long-term average. Bratislava, typically leading the country in housing completions, saw only 540 dwellings completed compared to a ten-year average of over 1,100.

In addition to fewer completions, the number of housing starts also declined. In the first quarter, 3,198 dwellings were started, marking the lowest first-quarter figure in twelve years. This represented a 17% decline year-on-year and a 27% decline compared to the ten-year average. Family houses made up 56% of the new starts.

Six regions recorded a decline in housing starts year-on-year, with the sharpest decreases in Banská Bystrica, Trnava, and Žilina regions, ranging from 42% to 51%. Bratislava and Košice regions were the exceptions, showing increases of 45% and 27% respectively, though the gains in Bratislava were influenced by the low figures from the previous year and remained below the long-term average.

As of the end of March 2025, around 77,000 dwellings were under construction in Slovakia, slightly lower (2.9%) compared to the previous year but still 2.8% higher than the ten-year average.