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Slovakia Set To Top European Economy League
February 23, 2009Article by Ray Withers
Slovakia is in a better economic position to ride out the global financial crisis than many other European countries, according to Organisation for Economic Co-operation and Development general secretary Angel Gurria. In a recent visit to the country’s capital Bratislava, the OECD chief said that Slovakia was viable democracy with a dynamically growing economy. As a result, despite suffering in the financial crisis, Slovakia is likely to have the best economic results in Europe. Two major decisions that have led Slovakia to the top of Europe’s economic pile are joining the Eurozone and investing millions in tourist infrastructure aimed at making the country one of Europe’s leading ‘budget’ winter sports destinations. Key to the tourism strategy is development of sporting infrastructure in the High Tatras national park, on the northern border between Slovakia and Poland. New roads, improved rail and air links and spending on ski centres have attracted tourists from all over Europe.
Slovakia property investment is an attractive proposition in the wake of the country’s economic standing, and one place where investors can take advantage of government investment is Silver Resort, High Tatras.
Located on the edge of the Tatras National Park, Silver Resort commands spectacular views across the Tatras Mountains and the surrounding landscape. The park is designated a world heritage site by UNESCO.
International property consultants Property Frontiers are offering a mixture of studios starting at £63,500 to three bedroom apartments and villas for £400,00, at the resort which will be a unique concept in the area and will offer residents a high standard of living with a wide variety of facilities.
Conveniently situated just 15 minutes drive from Poprad Airport, with regular flights from London Luton, five minutes drive to ski lifts and four kilometres from an 18-hole golf course, Silver Resort has something for everyone. Add to this that 80% loan-to-value mortgages are available, enabling investments from just £12,699, guaranteed rental income options available to give 5% or 6% yields giving cash flow positive returns and forecasted capital appreciation of 15% per annum, the Silver Resort will be a sound Slovakia real estate investment option as well as a luxury holiday home.
Previously a relatively untapped resource, Slovakia’s tourist spots are now high on the agenda for investors, particularly as owning a second home in the ski resorts of the High Tatras fast becomes an important status symbol for wealthy Eastern Europeans. Due to the heritage site status and limits on construction in the region, there should never be an oversupply and demand for a holiday home or let in the main ski resorts will remain high.