Slovakia » Market Report

Slovakia has been named the safest place for property investments. With a strong and stable economy and fastest GDP growth rate in Central Europe, the market of Slovakia real estate merits attention from potential investors. Being an EU member country it ensures security and guarantees EU legal rights to all investors. Another advantage is that EU citizens can buy commercial or residential property in Slovakia as there are no restrictions. It is believed that the adoption of Euro will bring further prosperity to the country. With Slovakia joining the passport-free Schengen zone it is expected that the move would significantly boost Slovak business and tourism. The strategic location of Slovakia right at the heart of Europe with four EU countries bordering places Slovakia at an advantage making it an ideal place from investment point of view. The pro-investment reforms in Slovakia also give it the edge enticing investors from all over the world and providing a favourable investment climate. The reforms brought about a significant change for the better as a result of which World Bank named Slovakia as the world's top reformer in improving its investment climate. The reforms introduced like the tax reform, the labour law, pension system and other social welfare reforms have won approval and appreciation and are proving to be very beneficial for drawing in foreign investments to Slovakia. All these factors are drawing in new investments and from the look of things the positive trend in Slovakia property market is sure to continue.

 

It hasn’t been long that the country shifted from communism to a market economy, the property market in Slovakia is still in its infancy which means that investments should be made carefully and on the other hand being new Slovakia’s real estate market also presents unexplored opportunities waiting to be discovered making it an investors paradise.  Slovakia however is changing its image fast and developing into a lucrative investment market. In a very short time it has progressed remarkably and seems to be headed in the right direction. With the economic stability and mortgage facility there has been an increase in the number of people looking for new houses as well as foreign employees seeking residential accommodation.

Bratislava, the capital city of Slovakia in particular is drawing a lot of attention from buyers looking to invest in Slovakia. It is centrally located and is easily accessible with a well developed infrastructure that includes two international airports and a European railway network. The airports offer low cost flights to all the major Western European cities. There is great demand for apartments in Bratislava and the property here offers capital growth potential. The proximity to Vienna and cheap Slovakian prices are the added appeal luring buyers. There is a rising local demand for new houses as well as more and more foreign companies investing in Bratislava and its property market.Property prices in Bratislava rose about 50% prior to accession with EU, they have now stabilized and  are lower than in Prague or Budapest .Properties in Bratislava seem a sound investment as they promise positive capital returns.  There are variations in prices according to the location, quality and local conditions. Petrzalka, a new area in Bratislava presents good investment opportunities.The High and Low Tatra Mountains offer a lot of activities, ski resorts that offer cheapest skiing in Europe attracting tourists as well as investors.

 

In Slovakia accommodation varies from apartments, flats to penthouses and multiple bedroom flats. Apartments and flats in Slovakia usually consist of a hallway, a room and a kitchenette. When investing in Slovakia’s commercial market the investments need to be made carefully. The market can present great returns but that is only if you make the right choice. Property development can be pretty difficult and risky as well as it is not very well-defined and you need to have proper know-how about the locality.  According to the market report commercial market in Slovakia is generating a lot of interest as evident from the increasing number of enquiries.  The tourist industry of Slovakia is still undeveloped as compared to its neighbouring countries and has a lot of potential for growth. Slovakia is now focusing on marketing itself as a holiday destination. With all the scenic beauty, natural attractions, Slovakia is sure to attract a lot of tourists and investors to its land.