Economic Impact of COVID-19 on Real Estate Prices in Slovakia
Authors: Andrej Adamuscin, Miroslav Panik, Julius Golej
Abstract: The Slovak real estate market is relatively young compared to developed countries. Real estate is one of the assets with a low risk of loss, but also with low liquidity. Real estate prices are subject to changes caused by economic cycles. Due to the rapidly changing market conditions, already realized real estate is considered a relatively certain investment, while investments in its construction are marked by high risk. Real estate prices are determined by several socio-economic and demographic factors.The COVID-19 disease also raised levels in the real estate market. None of us expected the crisis caused by the new coronavirus. Although many forecasters agree that the economic crisis is a phenomenon that recurs cyclically about every 10 years, few would have predicted the enormous global proportions it could have.The article aims to answer the questions of how the corona crisis-affected real estate prices in Slovakia and how prices will develop until the end of 2021.
Keywords: real estate prices, COVID-19, housing, property, economic crisis
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