Can you afford your own home in Slovakia? For one-third of young Slovaks, the answer is no. This many people aged 18–34 live in their parents' home, according to a survey by VÚB banka. And the main reason is not "mama hotel," but prices.
For Ukrainians living here or planning to move, these numbers are a useful guide. They explain why rent in Bratislava or Košice is so expensive, why local colleagues at 28 still live with their parents, and why buying an apartment turns into a multi-year project for many Slovaks.
Second Place in the EU – From the Bottom of the List
According to Eurostat data for 2024, young Slovaks leave their parents' home at an average age of 30.9 years. Only Croatia is worse in the European Union – 31.3 years. For comparison: the EU average is 26.2 years, and in Scandinavian countries, young people leave their parents at 21–22 years.
The gap is explained by how the market works. In Slovakia, 93% of the population lives in their own homes – one of the highest rates in Europe. The rental market here is underdeveloped: there is little quality long-term rental housing, so "adult life" traditionally begins with buying, not renting. And buying means years of saving for a down payment for a mortgage, and at current real estate prices, this path is definitely not for one year, writes Startitup.
Not Enough Money, Not Enough Nerves
Financial pressure on young people is noticeable even for those who work:
- 50% of respondents regularly feel stress about their financial situation.
- Only 55% believe they can achieve their financial goals – this is the lowest rate among the countries where the survey was conducted (Slovakia, Hungary, Serbia, Croatia).
- The real net wealth of young Slovaks (assets minus debts) decreased by 16% between 2021 and 2023 due to high inflation.
Inflation in recent years has eaten away savings faster than young people could build them. Those who saved for a down payment in 2021 found by 2023 that both the apartment had become more expensive and their savings had lost value.
Not Everyone is Passive: A Quarter Invest
An interesting contrast: despite the difficulties, Slovak youth are among the most active in the region in terms of financial behavior. 25% of young people save money every month, and the same number regularly invest – in stocks, ETFs, or mutual funds. This is one of the highest rates among the surveyed countries.
This means the problem is not that young people "don't know how" to manage money. The problem is that even disciplined savings cannot keep up with housing prices.
Consequence: Young People Look Abroad
VÚB chief economist Michal Lehuta says directly: a significant portion of young Slovaks do not see their future at home. The lack of affordable housing, limited career prospects, and low quality of public services are pushing them abroad – about one-fifth of young people go to study abroad and do not plan to return.
For the country, this means a brain drain of a workforce that is already lacking – and a growing demand for workers from abroad, particularly from Ukraine, notes SME.
What This Means for You
A few practical conclusions if you live in Slovakia or are considering moving:
- Renting is a realistic first step, but the market is tight: there are queues for good apartments in large cities, so you should look in advance and have "backup" neighborhood options.
- Buying a home here is a long game, even for locals with an average salary. If you are planning a mortgage, allow time to gather documents, build a credit history, and save for a down payment.
- Local youth live with their parents not out of laziness, but out of math – do not measure your progress by others' standards.
Slovaks joke about this phenomenon as "mama hotel." But Eurostat figures show: this hotel operates not out of comfort, but because the cost of leaving the nest has increased faster than salaries in recent years.
