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It’s Snowing Cash On Slovakia Ski Resorts

January 5, 2009Article by Ray Withers

European skiers are expected to flock to new High Tatras property developments in Slovakia, after the country switched currencies to join the Euro and has heavily invested in upgrading resorts. The Tatras Mountains straddle the Slovakian and Polish border and are a UNESCO world heritage site of outstanding natural beauty. The High Tatras resorts have lots of attractions for tourists all year-round, including hiking and golf in the summer, spa centres and winter skiing that makes investing in Slovakia property a proposition for good returns. The Slovakia tourist industry has seen visitor numbers to cities and mountainous regions steadily increasing. UK visitors to Slovakia increased by 38% between 2006 and 2007. The Tatras have steadily increasing visitors, with 2006 hotel revenues up by 43% in some areas. To make the High Tatras a better winter experience for tourists, millions of Euros have been invested in the ski resorts, which benefit from new slopes, lifts, cable chairs and snowmaking machines.

The High Tatras upgrade is the result of a five-year project to build a ski resort rivalling Alpine resorts at Lomnický Peak. At Štrbské Pleso, skiers have a new 1.8-kilometre-long run at Solisko. Last year, this High Tatras resort, was the only one in Slovakia had a 184-day season. New snow guns are in place Tatranská Lomnica and Štrbské Pleso in the High Tatras. A brand-new ski resort at Vitanová is opening a new four-seat cable this season. This resort will offers a one-kilometre ski, two lifts, the new cable car plus other amenities.

Skalka resort, near Kremnica, has a new four-seat cable car. At Martinské Hole, a six-seat cable car is near completion. Those resorts are equipped with snowmaking machines that helped the last ski season last almost four months despite poor snowfall.“This winter we want to show visitors that the Tatras have prepared for the winter in terms of the ability of resorts to guarantee snow from the start until the end of the winter season,” said Peter Chudý, director of the local tourism association.

The Slovakian property market has experienced high growth as locals become have a better standard of living on joining the EC. The mortgage market has rocketed as more and more locals are borrowing. Capital appreciation on property in Slovakia averaged at 15% in 2006. High Tatras property is offered by Property Frontiers at Silver Resort in the Poprad region. Silver Resort is a secure, gated resort with a variety of sports and leisure facilities in a UNESCO area of outstanding natural beauty, which means future building in the area is restricted. Properties are available to suit all budgets – from studio apartments costing £63,500 to luxury £400,00 villas.

Author

Ray Withers

Ray has over 17 years’ experience in the international property market and bought his own first international property investment back in 2002. Aside from running Property Frontiers, Ray has been involved in residential, hotel, student and commercial property investment and development in both the UK and overseas and co-wrote "Where to Buy Property Abroad - An Investor's Guide". As Founder and Trustee of the Frontiers Foundation, Ray is directly involved with many of its projects to ensure they have a direct and tangible impact in individual communities across the globe. He is passionate about property, travelling, scouting out new opportunities and finding time to spend with his young family.
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