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Slovakia - Little Big Country

Bratislava - new building blocks under constraction

Real estate

One of the best areas to invest were, are and will be real estates. Especially in Slovakia were the prices are growing all the time.

Current situation in Slovakia:

Investors in Slovakian property have welcomed the news that property prices in the country rose by 20.8% during the first nine months of this year, according to figures from the National Bank of Slovakia (NBS). The impressive price rise occurred across the board, with NBS’s research encompassing houses and apartments, and both new and old properties.

As one might expect, the capital city of Bratislava and the surrounding region is where property is currently most expensive. The average cost of property is €1,450 per sq. m, up 18.4% on the same time last year. The city’s property market already benefits from good transport links – low-cost airlines operate services between the city and London, and it is just 30 miles from Vienna. Foreign investment into the city has also generated growth in the job market and so greater demand for quality accommodation.

Bratislava was recently tipped for price growth following the announcement that Slovakia was to enter into the border-free Schengen zone at the beginning of next year. Bratislava will then be a commutable distance from Vienna, and it is predicted that this will raise Bratislava’s property prices bringing them closer to the level in Vienna.

The highest growth seen in Slovakia during the first nine months of 2007 was in Zilina, where the average price of property grew by 35.9% to €610 per sq. m. Although prices are evidently still very low compared to the rest of the country, thanks to the high proportion of communist housing the region has seen a considerable increase in new developments coming onto the market at prices that are, for the region, relatively high.

The highest prices in the country are in Bratislava’s most sought-after districts. Real estate in the best areas is priced up to €3,000 per sq. m, and the city’s most exclusive projects are priced at up to €4,500 per sq. m. (just like River Park on Danube river)

Source: www.nspinternational.com