Sllaveski: Slower housing price growth gives buyers more bargaining power

Housing prices in Skopje are showing signs of stabilizing, according to National Bank Governor Trajko Sllaveski. Speaking to Telma, he cited the index published quarterly by the central bank: in the third quarter of this year, year-on-year growth slowed to 10.3 percent. This figure is close to the level recorded in 2023, before the pandemic.

The governor said this trend puts buyers in a stronger negotiating position. According to him, individuals and families looking to buy homes benefit from increased bargaining power, as they have more scope to negotiate a lower price.

In his comments to Telma, Sllaveski also discussed the central bank’s measures concerning housing loans. These measures aim to maintain financial sector stability and prevent citizens from taking on excessive debt.

Easing the conditions for first-time homebuyers remains a commitment of the National Bank. The new macroprudential measures, which will take effect on December 1 this year, are expected to continue playing a preventive role and encourage sustainable household borrowing.

Alongside reducing the risk of citizens becoming overburdened with debt, the bank is also taking steps to address the needs of more vulnerable people who need a place to live.

Sllaveski reiterated the position he expressed last year, when he stressed that apartments and houses should serve primarily as homes and only secondarily as investments. /Telegrafi/