Within
Slovakia, as in most new European countries, there are many
new developments being planned - from appartment buildings
to large scale city complexes. This makes for a great investment
oppotunity as much of the new property is to be sold off plan.
Off plan property is where a property is being bought at the
planning stage and is yet to be built.
Property bought this way is
usually cheaper and by the time it is built it has already
gained in value over the selling price. The buyer will usually
pay a reservation fee at the begining and then pay the rest
of the asking price off at set stages of the devlopment, paying
off the balance when the property is complete.
Tax reforms, Economic success
and Investments, along with the introduction of mortgages,
have led to significant development in the property market.
This of course has also been helped by the rising demand from
foreign buyers, who are now able to purchase property without
the need to set up a company (unlike in many other new EU
member countries).
The good news for property
investors is that the market is still in it's infancy and
the prices are expected to continuing rising at 10% - 15%
per annum and year round rental yeild is expected to be 8%
- 10%. It is also much cheaper than many of the other EU members
who are thought to have already enjoyed their price boom.
One new property hotspot is
expected to be Bratislava in Slovakia, which is only 40 miles
from Vienna in Austria. Now that Slovakia has joined the EU,
investors are expecting a sharp rise in commuters travelling
to work in Vienna, pushing up earnings which will feed property
prices in Slovakia.
Prices in the Slovakian capital
begin at around £30,000 for older flats, while houses
in the Slovakian countryside can be as little as £15,000.
basic
Slovakia information |
Overseas
Property Investment|
Facts
about Slovakia|
Places
to Invest|
Why
Invest?|
Fast
Growing property Market|
Buying
Property in Slovakia|
What
taxes to pay when buying a home? |
