Slovakia's Central Bank to Restrict Mortgages for Investment Properties as Empty Apartments Surge

Slovakia's National Bank (NBS), the country's central bank, plans to restrict mortgage lending for investment properties following data showing tens of thousands of apartments with extremely low electricity consumption, indicating they remain uninhabited. In the eastern city of Košice, over 15 percent of apartments show these consumption patterns, while in the capital Bratislava the figure reaches nearly 11 percent. The central bank's move aims to curb speculative property purchases that leave residential units empty while housing prices continue to rise. The restriction on mortgage lending for such properties could significantly impact Slovakia's real estate market, where investors have been purchasing apartments purely for profit rather than residential use.