Slovakia Sees Sharp Decline in New Apartment Completions

Slovakia saw a significant drop in newly completed apartments during the first three months of 2026, with only 2,210 units finished. This figure represents a decrease of over a quarter compared to the same period last year and is the lowest number of first-quarter completions recorded since 2000. The total is also more than 40 percent below the long-term ten-year average for the first quarter, according to the Statistical Office of the Slovak Republic.

Apartments in family houses continued to dominate the completions structure, accounting for 69 percent of the total. However, the overall decline in completions was evident across all regions of Slovakia. The most substantial decrease was observed in the Bratislava region, with a 56 percent drop, while the Nitra region saw a smaller decline of four percent. In a longer-term comparison, all eight regions experienced double-digit decreases in completed apartments, with the Bratislava and Trnava regions showing the most significant drops.

Adding to the downturn, the number of new apartments that began construction in the first quarter of 2026 also reached a low. Nearly 2,100 housing units commenced construction, marking the lowest quarterly figure since 1998. This represents a year-on-year decrease of over one-third and is approximately half the long-term average for the same period. Family houses constituted 61 percent of these newly started units.

The slowdown in construction starts was felt in five of Slovakia's eight regions, with the Košice and Bratislava regions experiencing the most dynamic declines, exceeding 60 percent. Conversely, construction starts accelerated in three regions, most notably in the Nitra region, with an increase of over 80 percent. Compared to the long-term average for first quarters, most regions saw significantly lower numbers of new apartment starts, with only the Nitra region reporting a slight growth of up to six percent. As of the end of March 2026, there were 77,600 apartments under construction in Slovakia, a slight increase of 0.8 percent from the previous year and 1.7 percent above the ten-year average.