Area Information - Slovakia
Many analysts believe that the Slovak Republic represents an ideal overseas investment opportunity. At Sunshine Estates, we believe Slovakia possesses a number of characteristics which make it a particularly attractive proposition. Below, we have compiled 10 reasons why an Overseas Investor should consider real estate in Slovakia.
- Slovakia joined the EU in May 2004.
- Slovakia’s real GDP growth was estimated at 6.4% in 2009 (source: CIA World Factbook).
- Slovakia implemented major structural reforms in preparation for joining the EU in May 2004. These reforms and further integration of European political and economic structures will help reduce the gap between Slovakia and more developed EU countries.
- On January 1, 2009 Slovakia joined the Euro currency.
- Real estate prices in Bratislava have been on the increase for the past few years, starting with 2005 witnessed 17% capital appreciation, which continues although more gradually in recent years.
- The property market in Slovakia is about 4 years behind the Czech Republic and Hungary, so there is a great deal of investment potential.
- As of May 2004 there are no restrictions on foreigners purchasing property in Slovakia.
- Mortgages are available to foreigners up to 70% LTV.
- Slovakia is located in the heart of central Europe bordering Poland (north), the Ukraine (east), Hungary (south), Austria (west) and the Czech Republic (north-west).
- With the good fortune of untouched nature, historical towns and villages and cultural treasures, it is a popular destination for of tourists. It is dominated by rugged mountain terrain in the centre and north and lowlands in the south.