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Silver Lining In Slovakian Ski Resort
June 29, 2009Article by Ray Withers
Budget ski centres are catching the eyes of Slovakia property investors as the recession makes people keep a closer eye on their wallets.Numbers were down in traditional ski resorts across France, Italy, Switzerland and Austria last season – while Slovakia cashed in by offering less expensive passes and accommodation. The Slovakian government recently invested millions of Euros in tourist – read mainly for skiers – infrastructure in the northern ski resorts of the Tatras Mountains that straddle the country’s border with Poland.
The ski season started in November and was still running when the summer season started in May!
For a small country, Slovakia has about 230 ski resorts – mainly in the Tatras.What’s more, the Tatras offer more than skiing for holiday property investors.The High Tatras is a UNESCO site of outstanding natural beauty and has excellent facilities for summer tourists – like gofers, hikers and nature watchers.
Slovakia lacks ski in – ski out properties and quality ski lodges but many investors find that driving times of 15-30 minutes do not put off skiers.Slovakia is a victim of its own success as the economy slips in to recession.Predictions are the economy will contract by 6.2% this year is based on the country’s reliance on exporting cars and electronics. Demand for these goods is falling outside Slovakia and is now having a knock-on effect on the country.
However, no banking crisis is likely as the country’s biggest bank is sitting on more cash than is out in outstanding loans.Property prices are stagnant, stubbornly sitting still compared with the huge falls in more established European markets, like the UK, France and Spain.In Slovakia, a typical ski resort development is Silver Resort, High Tatras, Set high on a hill, the resorts gives wonderful views of the surrounding mountains that make up this world heritage site and national park.
Offering studio to three bed roomed apartments and villas, investors can buy in to this Slovakia property investment from £12,699 plus purchase costs with an 80% loan-to-value mortgage.This resort has something for everyone. It’s 15 minutes drive from Poprad Airport, five minutes drive from ski lifts and only a few miles from an 18-hole golf course.