Overseas
property investors looking for the next emerging market should
investigate Slovakia. The world bank in 2005 stated that Slovakia
had the fastest transforming business economy and the trend
is set to continue.
About Slovakia
Slovakia landlocked republic
in Central Europe bounded by the Czech Republic, Poland, Ukraine,
Hungary, and by Austria. Slovakia is modern European country
with a deep rural tradition. Geographically, it is primarily
a mountainous country with numerous winter activities. Bratislava
is its capital and largest city.
Buying property in Slovakia
an overseas property opportunity.
Overseas property investors
looking for the next emerging market should investigate Slovakia.
The world bank in 2005 stated that Slovakia had the fastest
transforming business economy and the trend is set to continue.
Overseas buyers welcome in
Slovakia
Slovakia lifted all restrictions
on property acquisition on 1 May 2004. All foreign nationals
can acquire real estate or land in Slovakia directly, without
having to set up a company and have a local legal signatory.
The minimum amount of equity required is generally 30% of
the purchase price. Alternatively, you can use the equity
in your existing property or simply arrange a loan at home.
Where to buy in Slovakia
Bratislava, Slovakia's capital
and largest city, is one of the rare places offering you exceptional
capital growth potential AND increase in rental income at
the same time. Quaint and jovial with a surprisingly rich
cultural life, Bratislava is a capital city without the usual
congestion. The High Tatras are a magnificent range of European
mountains (only second to the Alps in elevation) dotted with
villages with deep peasant traditions.
How to buy property in Slovakia.
Once you found your Slovakian
property be prepared to part with a deposit of 10%. This is
required by the buyer to start the buying process. A pre purchase
agreement is signed by both parties. A surveyor will complete
a report and provide this to the seller’s solicitor
who will then prepare a contract of sale. It is important
to have any agreement signed translated. The title deeds are
then transferred to you after a period of about 4 weeks. Agents’
fees are between 1.5 and 3 percent.
Slovakian Climate
Slovakia has a continental
climate, with four distinct seasons. Winters are typically
cold and dry, while summers tend to be hot and humid. The
average daily temperature range in Bratislava is -3° to
2° C (27° to 36° F) in January and 16° to
26° C (61° to 79° F) in July; temperatures tend
to be cooler in the mountains. Bratislava receives an average
of about 650 mm (about 26 in) of precipitation annually. In
areas of high altitude, snow is often present for as many
as 130 days each year.
Travelling to Slovakia
Depending on the country you
come from and the reason you come to Slovakia for, you may
need an ID card, a passport or even a visa in order to enter
Slovakia.
Citizens of the European Union
should be able to travel with their ID card only. Contact
embassy of the Slovak Republic in your country for more information.
|
