Slovakia Property Leads The Way in Europe
The real estate market in Slovakia has been growing dynamicaly and residential property reached an average yearly growth rate of 15 % in several consecutive years. Similar results are expected yearly over the longterm period. The majority of new developments are located in Bratislava and surrounding municipalities. Other regions of Slovakia, such as Telgárt are recording growth in the numbers of apartments under construction.
The demand for residential properties is pushed by domestic buyers, however, an important role is played by large international companies relocating to Slovakia, requiring accommodation for their employees, thus leading to an excellent rental market for potential investors and lifestyle buyers.
There has been a considerable inflow of investment into Slovak tourist resorts over the last three years, in particular into the ski and spa resorts. The result of this increased investment is the rising quality of services and an increase in tourism numbers. This in turn resulted in a rising demand for quality holiday homes in the main resorts and the market was also affected by the strong domestic demand.
Real estate prices are currently significantly lower than in Western Europe, however, given the location of the country and its rapid economic growth, prices are expected to approximate to Western European standards rather quickly.
With the first phase sold out, The Right Move Abroad is offering an exclusive selection of one and two bedroom units - Telgárt Apartments Phase 2 located in Telgárt village enjoys views of the spectacular Tatras Mountains in all directions.
Michael Johns, CEO The Right Move Abroad comments: “We are confident that the capital appreciation expectation for Telgárt will be around 10% during the construction of phase 1 (autumn 2008) and we expect the market value of these apartments to increase thereafter. Coupled with the expected rise of 14% of the Slovak crown for 2008, this is a excellent investment opportunity”.
Slovakia is a beautiful landlocked country in Central Europe with a population of over 5 million people. The Slovak Republic borders the Czech Republic and Austria to the west, Poland to the north, Ukraine to the east and Hungary to the south. The largest city is its capital, Bratislava. Slovakia is a member state of the European Union.
The Tatras Mountains are the highest mountain range in the Carpathian Mountains.
Their size, combined with great accessibility and facilities makes them very popular with tourists ranging from beginners to advanced skiers. Conditions are also excellent here for rally skiing. Family holidays are popular with smaller slopes for the children, indoor facilities, skiing instructors, restaurants, and much more.
Slovakia has become known around the world for its reputable spas. Their thermal springs and mud, and unique climatic conditions, are traditionally thought to have great curative powers. It is also a country of hills and mountains. Many of the rivers and streams that flow through it are considered to be a paradise for both experienced and less experienced lovers of boats, kayaks, canoes and rafting. It is also renowned for it caves – an underground world of labyrinths and cascade lakes.
News submitted by Nick Cowling, The Right Move Abroad
