Just yesterday, owning a home in Slovakia seemed like an attainable dream, but today, for many Ukrainians—especially young people—it is becoming an increasingly distant goal. While real estate prices in 2025 were more affordable than in neighboring countries, the situation changed by 2026: housing prices rose by 9–14%, and a further increase of nearly 7% is projected for 2027. But there is good news: Slovakia is preparing new, more favorable mortgage terms for young buyers, which could significantly simplify the path to owning an apartment.
Why Housing Prices Are Rising: The Main Reasons
Over the past twelve months, residential real estate prices in Slovakia have risen by approximately 9–14%. Martin Lazik, an analyst with the National Association of Real Estate Agencies of Slovakia, predicts that in 2027, prices will either stabilize or continue to rise moderately by 4–7%. The greatest demand is for smaller apartments—one- and two-bedroom units. Particularly significant price increases over the past ten years have been recorded in major cities such as Košice and Prešov, where real estate prices have more than doubled.
The main reasons for this rapid price growth are a housing shortage in the market, complex and lengthy processes for obtaining building permits, difficulties in finding suitable building lots, and high construction costs. An additional factor fueling the market is investment demand. According to the National Bank of Slovakia (NBS), in 2025, more than half of all mortgage loans were issued to people who already owned one property, which exacerbates price volatility and makes it harder for first-time buyers to access housing.
New Mortgage Rules: An Opportunity for Young People
New mortgage lending rules may take effect in Slovakia, aimed at making it easier for young people to buy their first home. If you are part of a household where both partners are under 35 and you do not own any property, the loan-to-value ratio will increase from 80% to 90% of the property’s value. This means you’ll only need to have 10% of your own savings for the down payment, instead of the usual 20%.
This initiative is part of a broader European effort to support young people and is already successfully in place in other EU countries. At the same time, for those purchasing real estate as an investment or who already own two or more properties, the conditions will become stricter: the loan-to-value ratio may be reduced to 70%, which will require at least 30% of your own funds.
What This Means for Ukrainians in Slovakia
For Ukrainians planning to purchase a home in Slovakia, these changes open up new opportunities. The growing demand for housing among Ukrainians in Slovakia is a noticeable trend, as many view the country as a place for long-term residence or investment.
If you meet the age requirements and do not own other real estate, the new mortgage terms could be your chance to own a home. However, it’s important to remember that each bank may have its own quotas and assessment criteria, particularly regarding the residency status and income of foreign nationals. Therefore, it’s worth comparing offers from different financial institutions to find the most favorable terms.
In addition, the Slovak government is considering the creation of a fund for affordable rental housing, to be financed by the European Regional Development Fund. This initiative aims to develop housing infrastructure and support young families, retirees, and socially vulnerable groups, which could serve as an alternative for those who are not yet ready to buy.
Forecast and Recommendations
Experts note that until the housing supply increases significantly, the affordability of owning an apartment will remain a serious financial challenge for many. Don’t count on a sharp drop in real estate prices. Instead, if you’re considering a purchase, carefully assess your financial capabilities, taking into account not only the size of the down payment but also your ability to make mortgage payments and maintain a financial cushion in case of unforeseen circumstances.
