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Slovakia Property Investment For Sale

 

"Slovakia’s liberal market economy could help it continue to out-performing others in Eastern Europe."

 

The Slovak Republic has enjoyed rising prosperity since its separation from the Czech Republic in 1993.  Nestled in the very centre of Europe, Slovakia has a prominent history which is still evident in its myriad of Gothic churches, 15th century town squares, fortresses, castles, peasant traditions, rural villages and nine national parks.

Since separation, Slovakia has undergone a transformation and much privatisation has been undertaken with foreign investment encouraged by the new business friendly policies, low taxes, liberal labour code and cheap but skilled labour; all of which lead to extensive growth especially in the electronics and auto sectors. Seen as one of Eastern Europe’s success stories, Slovakia’s stable political system and liberal market economy will hold it in good stead going forward.

Like in many European nations, house prices have dipped as a result of the international financial crisis but the market here was hit far less than in other areas, although as the Slovakian market is so dependent on exports much is in the hands of outside forces.

For those who prefer skiing or mountain walking to overcrowded beaches and concrete resorts Slovakia is an ideal holiday or second home destination. The high Tatras offer the only true alpine standard skiing in Eastern Europe, whilst the capital Bratislava continues to offer good rental returns.

Country Guide

Geography

Slovakia is located in central Europe bordering the Czech Republic, Austria, Poland, Hungary and Ukraine. The country is naturally stunning with numerous mountains, lakes, forests, lowlands and canyons. Almost half the country is covered by the Carpathian Arc making it extremely mountainous. Slovakia is rich in mineral resources and several mineral springs can be found within the country. The main river in Slovakia is the Danube which connects the country's capital Bratislava with the cities Vienna and Budapest.

Government

Slovakia is a Parliamentary democracy with a civil law system based on Austro-Hungarian codes.  On the 1st January 1993 Slovakia declared independence when Czechoslovakia split into the Czech Republic and Slovakia. The country is divided into eight regions and seventy nine districts. Slovakia became a member of the UN in 1993 and joined the European Union and NATO in 2004.

Language

Slovak is the official language of Slovakia with 83.9% of the population speaking it. 10.7% of the population speaks Hungarian and 7.8% speak Roma.

Standard of Living

Slovakia does not have a very high standard of living and suffers from high unemployment levels - the third highest behind Spain and Portugal

 

Country Economy

Slovakia has seen high economic growth since separation from the Czech Republic and is seen as one of the biggest success stories of Central Europe being affected far less than other European countries by the euro-zone crisis.  Germany is currently Slovakia's main import and export partner.

Key Industries

Vehicles, machinery and electrical equipment, base metals, chemicals and minerals.

 

Hotspots

Bratislava

Bratislava is in the southwest of Slovakia and is one of the most popular places to invest in. With a population of nearly 427,000, the city attracts a constant stream of tourists and is the only national capital that borders two other countries, Austria and Hungary. Downtown Bratislava has been tipped as the best place to buy thanks to local government efforts to install a beautification programme. 

Trnava

Trnava is a town in the west of Slovakia and one of the country's oldest cities. Trnava has been given the nickname 'little Rome' or 'Slovak Rome' because years ago it used to be an important centre for Gothic religious inspired architecture. Several churches were built such as St Helens and St Nicola's and there are many church monastery complexes each with their own unique design. There are several gothic walls in good condition surrounding the town and the architecture has developed significantly over the years making this a very historic town and popular with sightseers and historians.

Tatra

Tatra is a mountain range which forms a border between Slovakia and Poland. Their raw natural beauty, easy accessibility and emerging ski resorts make them popular with tourists and scientists all year round. The mountains are well known for their outdoor winter sports such as climbing, walking, hiking and skiing which are all available from various resorts such as Poprad.

When looking for property in the Tatra Mountains you can usually expect to find wooden cottages in rural areas and stone houses in urban areas. Foreign investors have already seen the Tatra Mountains' potential and are starting to invest in this area.

Presov

Presov is situated among the Tatra Moutains in eastern Slovakia and is the third largest city in the country. The city has an exciting cultural atmosphere with numerous concerts, stage plays, opera and operetta performances and a range of restaurants and pubs. Many people are attracted by the quiet undisturbed way of life with many museums and castles to explore. During the summer season Presov welcomes the trinity market where tourists can buy traditional souvenirs and the annual wine festival is also popular with visitors.


Nitra

Nitra is the largest city in western Slovakia outside Bratislava. Many tourists are attracted to this city because it offers a little of everything from a variety of restaurants and pubs, museums and theatres to historical architecture sites with both with religious and cultural influences. Like many other parts of Slovakia many tourists come here to discover the old ruins, buildings and monuments and to view some of the oldest churches in the country. 

Kosice

Kosice is the main city of eastern Slovakia and the country's largest city. The city centre has a charming pedestrianised square bordered by a range of restaurants, cafes, pubs and shops. Some of Kosice's main attractions include the gothic cathedral of St Elisabeth, the empire-era state theatre and several museums which are within walking distance of the centre. 

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