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Slovakia – Property Buyer’s Guide

April 13, 2009Article by Ray Withers

Do UK visitors need visas?

No. EU citizens do not need visas, although people intending to stay for more than a holiday should register with the police within three days of arrival and apply for a ‘green card’. The card is proof of identity – if you don’t have one then you should carry your passport.

Can UK citizens freely buy property in Slovakia?

Yes – but some restrictions apply to agricultural land and woodland.

How do Slovakia property sales work?

The seller enters in to a pre-purchase agreement to buy a property and pays a deposit.
A process similar to a UK conveyance involving a survey, signing documents before a notary and land registration, follows this. The registration includes a plan and description of the property, the owner’s details and charges or covenants.

Can UK buyers get a mortgage in Slovakia?

Slovakian banks certainly offer mortgages, although credit is tight in line with other countries suffering economic difficulties.

The High Tatras seem to be a popular investment choice

Yes. The government has poured millions of Euros in to tourist infrastructure for winter sports, like skiing, and other year round leisure activities like hiking and golf.
Typical resort property Silver Resort, High Tatras, Slovakia , comprises apartments and villas priced from £63,500 for a studio flat to £400,00 for a four-bed villa. Properties on the resort are available from international property consultants Property Frontiers with an optional 5-6% annual rent guarantee.

Where are the High Tatras?

The Tatras Mountains straddle the Slovakia and Polish border and are a UNESCO world heritage site. As well as being an area of outstanding natural beauty, the resorts of the High Tatras have a wealth of attractions to offer tourists year-round including skiing, hiking, spa centres and golf courses.

What is the Slovakia property investment outlook?

Fluid has to be the answer. The economy is one of the most resilient in the Eurozone, but it’s too early to say just how property prices will be affected by the global economic downturn.

What is the market for resort property?

Slovakia is trying to turn the High Tatras in to the budget ski resort of choice for Europe as it lies within easy communication from Poland, Germany, the Czech Republic and Austria. Vienna is within 40 minutes commute. Slovakia is also popular with Eastern European and Russian tourists.

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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