As the 16th country to adopt the Euro, Slovakia is hoping that becoming part of the Eurozone will help bring economic stability during the global economic crisis. Economists and speculators alike will eagerly be watching the Slovak financial markets when they open for business January 5th.

Compared to the 11 members who adopted the Euro exactly a decade ago, today, over 50% of European Union citizens, a population of some 328 million people now use the Euro. Slovenia and in 2008 Cyprus are the most recent countries to have benefited from Euro adoption. The recent strength of the Euro against the pound sterling has evoked mixed reaction within the Eurozone with countries such as Spain, Greece, Italy and Portugal worried about the likely impact of Euro pound parity on tourism revenues in 2009. On the other hand Euro founder members such as France are enjoying the transcontinental shopping bargains to be had from lower consumer goods prices in the UK.

“Slovakia is viewing its adoption of the Euro a positive move as despite likely increases in the prices of consumer goods and services, its economy is set to benefit from the multinational companies enjoying decreased currency volatility brought about by conducting business in Euros.”says Chintan Mahida, global property analyst at overseas property blog, Nubricks.com

The Slovensko Republic has been a favoured investment destination of choice by a number of global companies with Dell, Peugeot Citroen, Samsung and Sony for their European manufacturing bases. The belief is that the Euro will bring much needed raw material and labour cost savings at a time when manufacturing output is on a downward trend and the Slovak crown was gaining in value. The smooth running nature of doing business in a Euro denominated environment should brings further dividends with greater investment into an already prospering country. Slovakia’s GDP will grow by only 4-5 percent in 2009 set to be the most rapid growth in the EU but had the crisis had not occurred, Slovak economic analyst Pavol Karasz believes Slovakia’s economic growth would have exceeded 6 percent in 2009.

Slovakia remains a strong Eastern European investment prospect in 2009 underpinned by an economy which continues to grow and many believe that the Euro will further prosperity to the Slovenska Republic.

Mortgages are a fundamental part of a successful overseas property investment. In a recent market research survey by Obelisk, over 40 per cent of potential investors stated they would definitely need a mortgage to finance their investment with a further 34 per cent claiming that they would probably require a loan for their investment.

While mortgages form an essential element to property investment, they are not available in all emerging markets and non-resident investors often find that they fail to qualify for a mortgage because of their residency status. With Obelisk Private Finance, this is no longer the case in Slovakia and all buyers can now take advantage of a mortgage to finance their property investment.

Further good news is that proof of income is not a requisite. Investors without proof of income, the self-employed for example, may apply for non-status mortgages and borrow up to 60% of the property’s value. While investor clients with proof of income are permitted mortgage funding of up to 70% of the appraisal value of the property.

A further advantage of a mortgage in Slovakia is the country’s low interest rates – these start from as little as 5.29% – and fixed rate mortgages are also available. Borrowing terms are between 5 to 15 years.

The availability of mortgages for non-residents further enhances investment in Slovakia, particularly for buy-to-let properties where mortgage payments can be offset by rental income. Bratislava is a particular hot spot for rentals – Knight Frank recently described the capital as “the place to go for rental property” – and with the shortfall of a staggering 220,000 units in the city, the rental market is one of the strongest in the area.

Obelisk’s Central 22 development, situated 8km from the city centre and within the capital’s main commuter belt, is in a prime buy-to-let location. Owners of houses within the Central 22 complex will find Obelisk’s mortgage for non-residents particularly beneficial as the introduction by Obelisk of this mortgage product means that investors are able to leverage their property investment in Slovakia Ken Thorkildsen, Director of Obelisk Private Finance, comments, “I would always recommend leveraging any property investment to maximise returns and take advantage of your personal tax allowances.”

By using a mortgage to finance your buy-to-let investment, you keep your initial outlay costs low and compensate your ongoing expenses (including your monthly mortgage payments) while still retaining the potential for high capital gain. With analysts predicting that house prices will increase in excess of 15 per cent over the next 3 to 5 years, the introduction of non-resident mortgages in Slovakia means investment potential in the country just gets better.

News submitted by Ken Thorkildsen, Obelisk Private Finance

When it comes to sound buy-to-let investments, Bratislava – Slovakia’s capital city – is a winner all the way. Recently ranked by Knight Frank as “the place to go for rental property”, Bratislava property investment is currently one of Central Europe’s letting hot spots.

Slovakia as a whole has a high percentage of homeowners with a comparatively smaller rental market, but Bratislava with its ever growing number of ex-pat workers, diplomatic staff and student population is quite the opposite.

With the lowest wages in the EU, Bratislava is a favourite destination for foreign direct investment and the city, already home to many multinational companies, saw 10,000 new jobs created in 2007 with the consequent rise in demand for rental accommodation. According to James Gonzalez, Market Analyst at Obelisk, “Due to the high level of education, international companies are setting up in Bratislava to take advantage of the educated workforce, which is inevitably increasing the spending power for the local population.”

The city’s large student population, popularity as a short break destination, thanks to the introduction of budget flights in 2004, its attractive medieval Old Town and its enviable position on the River Danube also means there is plenty of buy-to-let potential.

“Property investment in Bratislava is proving to be an extremely profitable option for property investors following a longer-term buy-to-let approach. Central 22, launched at the beginning of the year, was aimed at exactly this type of investor looking to maximise rental yield earnings and capital appreciation.” comments James Gonzalez of Obelisk.

Further demand for homes comes from the many Viennese workers who live in Bratislava and commute across the border to Vienna. Bratislava’s close proximity to the Austrian capital – a mere 30 minutes’ drive – the short supply of good quality apartments and attractive property prices (around 75% cheaper than Viennese homes) mean apartments in Bratislava’s city centre have seen price hikes of 15% per year. Rental yields are also high and average between 8% and 10% for apartments in the city centre.

The National Bank of Slovakia has recorded price rises of 21.3% year-on-year since 2002 and the country’s rapid economic growth is another factor affecting rising house prices. Slovakia’s GDP growth rate in 2007 was an impressive 10.4%, a massive increase on the 6% it had achieved annually between 2002 and 2006. The country received a further boost when it was announced that it had successfully met all the economic targets to adopt the euro. The EU Commissioner for Economic and Monetary Affairs, Joaquín Almunia, said “Slovakia has achieved a high degree of sustainable economic convergence and is ready to adopt the euro on 1 January 2009.”

With strong and steady demand for rental accommodation, high rental yields, low taxation on rental income and a flat rate income tax, Bratislava really is the place to go for property investment.

News submitted by Alison Kane, Obelisk International

The launch of the Sunrise Ski and Spa Resort in the Tatras region of Slovakia is an exceptional 4* congress and holiday resort located on the shores of Liptovska Mara water reservoir, set in a fairy-tale scenery of river Vah valley. To the north and north east, snow-covered mountain range of High Tatras poses powerful contrast to idyllic views of crystal blue lake to the west from the site. Across the valley, to the south, the picture is framed by National Park of Low Tatras. It is the first 4* development in this swiftly developing area with thriving tourism and excellent growth potential.

• French management company
• Year round resort (ski, spa, outdoors)
• Sold furnished to 4* standard
• Situated in an idyllic setting next to Liptovska Mara Lake with direct access
• Superb on-site facilities ( pool, wellness centre, congress halls)
• Completion Winter 2009
• Starting price €69,642

Lakeshore Property Investment
Call The Right Move Abroad on +44 (0)1606 888886

British and Irish tourists started to discover Slovakia only 5-6 years ago. Most of the mass tourism focused on the winter season initially. Convenient transport links (direct flights from London to Poprad-Tatry international airport in the heart of Slovak mountains), great skiing and affordable price managed to attract increasing numbers of tourists from the islands and inspire their return to Slovakia in following season.The number of British and Irish nationals visiting Slovakia doubled since 2002 and they move onto discovering another of Slovakia’s numerous attractions – spa, thermal and water parks.

Slovakia has abundance of hot mineral waters originating in an underground pre-historic sea, hidden over a kilometer under surface, covering two thirds of Slovakia’s territory. Springs of healing mineral waters with various characteristics can be found through out the country and new wells are being drilled to use this unique resource for medical purposes as well as a source of geothermal energy. Leader in this regard is the region Liptov, the valley between High and Low Tatras and lately the most attractive tourist region of Slovakia.

Besides of Aquacity, the greenest spa and hotel resort in the world (Green Apple award 2005), located in Poprad, there is Thermal Park Besenova whose water has medical as well as cosmetic applications and various other smaller traditional spas. Great connection to London, healing waters, fully qualified medical and cosmetic staff, affordable prices and superb natural surroundings make Liptov an ideal place for your off-season wellness break.

Unique combination of spa and congress facilities will be offered by new hotel complex to be built on the shores of lake Liptovska Mara, in a walking distance from the larges water fun park in Central Europe, Tatralandia. Sunrise: Ski and Spa complex will offer in-house spa and wellness facilities coupled by 4* standard congress center and aparthotel. It will consist of the main hotel building and smaller apartment houses, and is designed to accommodate high demands of corporate tourism as well as need for privacy of family holiday makers. With highest standard facilities, magnificent views of High and Low Tatras, position on the lake with all kinds of water-sports, close proximity to the best Slovak ski resort Jasna and short distance to the airport, Sunrise is destined to be a star of both corporate and individual tourism.

News submitted by Nick Cowling, The Right Move Abroad

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

Slovakia is becoming more and more popular with tourists from all around the world. Excellent transport links, outstanding natural beauty, high level of services, great skiing conditions and multitude of spa resorts attract more and more tourists to the country every year. With Slovakia joining Eurozone in 6 months time, its popularity with Eurozone tourists is set to sky-rocket.

Liptov is currently the most significantly emerging region of Slovakia. Short distance from Poprad – Tatry international airport with direct flights to London, Liptov offers the best of Slovakia. Winter season in Liptov revolves around the best ski-resort in Slovakia, the Jasna ski resort in the Low Tatras with 120 days of skiing season a year on average. Ski Jasna features 14 downhill tracks (maximum capacity of 16 625 skiers per hour), ranging from children ski tracks to Olympic standard black professional runs, including the longest downhill ski run in Slovakia. The Jasna resort also has 3 off-piste runs for freestyle and freeride, snowboard park and 11 km of cross-country skiing tracks.

However, it is not all this that makes Jasna the best ski resort in Slovakia. Excellent skiing is coupled by high level of services available and unusual winter sports, such as skifox, snowscootering and snowbiking, kitewinging and paraglyding. Ski schools, children daycare center and family friendly facilities make it an ideal place for winter family holidays. Numbers of tourists have been rising sharply in past three years. Besides of booming local business, numbers of foreign tourists more than doubled since 2004. Hotels around Jasna are full to the maximum capacity throughout the winter season, average occupancy rates are on par with High Tatras hotels.

Some new hotels in 3 star category have opened in past years and the first four star congress and holiday center will grow on the shores of Liptovska Mara lake nearby. The new aparthotel Sunrise : Ski and Spa is a complex designed to make full use of all the best features of Liptov. It will have an on-site wellness and spa centre and enjoy access to beaches of Liptovska Mara, walking distance to the largest water fun park in Slovakia and be a short drive to the historical city center of Liptovsky Mikulas and Thermal Park Besenova. Direct free ski bus will connect the complex with Ski Jasna. Sunrise will house main hotel building with congress and spa facilities and several apartment houses in various sizes facing the lake of Liptovska Mara. International resort operator has already signed up to run the resort when finished. Unspoilt nature views, excellent location, modern facilities and luxurious finish make the Sunrise Ski and Spa Resort a future star both family holidays and congress tourism.

News submitted by Nick Cowling from The Right Move Abroad

There’s silver in them mountains, literally! A new year-round holiday village, the Silver Resort nestled high in the Tatras Mountains in northern Slovakia, has just launched with studios, one, two and three-bedroom apartments and four-bedroom villas at prices starting from €58,590, it offers true alpine skiing at a fraction of the usual price.

Already a member of the European Union, and set to adopt the euro in January 2009, Slovakia offers great long-term potential and is very much on the Eastern European investment property radar, with capital Bratislava leading the offensive but beyond the city limits a new property market is ripening. Whilst the majestically sounding High Tatras Mountains, which border Slovakia and Poland, may be the smallest alpine range in Europe, they are making a big noise in investor circles as they develop into one of central Europe’s most popular ski destinations.

Silver Resort is situated 15 kilometres from Poprad Airport, serviced with regular flights through London’s Stansted & Luton and a four-hour train ride from Bratislava adds to the accessibility from the city which enjoys low cost flights courtesy of Ryanair who flies there 6 days a week.

At a base altitude of 850 metres and a highest point reach of 2,190 metres, the Silver Resort is located between the resort towns of Velka Lomnica and Tatranska Lomnica in close proximity to one of the three main resort towns in the High Tatras where you can enjoys prime ski conditions from December to March and is equipped with cable-cars and chair-lifts, and includes ski schools and ski-lifts for children. Other ski resorts in the area include Strbske Pleso, which hosted the 1970 Ski World Championships and boasts two ski jumps.

In an area surrounded by a national park with panoramic views of Tatras Mountains, a Unesco World Heritage and adjoining a 27-hole international Black Stork golf course, the Silver Resort will comprise 368 luxury ski apartments which will enjoy a wealth of onsite facilities in addition to their spectacular location. The rest of the scheme incorporates indoor and outdoor spa facilities, tennis courts, a kids’ club, pool, ice rink in winter, jacuzzis, saunas, steam rooms, restaurants and bars. As well as skiing, year-round activities in the area include cycling, hiking, rafting, rock climbing and golf.

With 80% LTV mortgages available, investors can purchase a studio apartment with as little as £8,450 plus purchase costs. The 33 sqm studios start from just €58,590 rising to €140,700 for two-bedroom apartments which range in size from 70 to 91 square metres and complete with underground garages, private saunas and fireplaces in both the living rooms and master bedrooms, the four-bedroom villas on offer have 175 square metres of living space with a master bedroom terrace and are priced at €398,933 including vat.

The High Tatras is facing a shortage of rooms for this coming ski season as a result of construction limits already in place and a lack of high-standard accommodation. The Silver Resort, scheduled for completion in the middle of 2010 is in a prime position to fulfil the need for five star accommodation currently lacking in the resort.

Already an established favourite with visitors from throughout Eastern Europe, Slovakian skiing is fast becoming attractive to UK and Irish ski aficionados seeking cut price alpine holidays and a great investment to boot.

Real World International is handling sales at the scheme and investors have the opportunity of a guaranteed net yield of six per cent for the first two years.

For more information click here or contact Real World International on +44 (0)20 7936 9013

The riverside location of Bratislava along the banks of the Danube has attracted some 500,000 permanent residents to this exciting cosmopolitan city, drawn by culture, leisure activities and of course employment. The international airport is a growing hub for low-cost airlines which has also served to bring tourism and business visitors to the city whose additional 130,000 daily commuters benefits from an excellent transport infrastructure including a high-speed catamaran service to Vienna, soon to be completed new motorway connection between the two cities and plans to connect Bratislava via public city transit to the Austrian border villages of Hainburg and Wolfstal by December make the city easily accessible for people of all walks of life.

As such demand for property here is strong from both expatriate investors and local buyers looking to get a foot on the domestic property ladder. Government incentives of low interest rates of around 5% on mortgaging facilities and no stamp duty, inheritance tax or capital gains tax make Slovakia real esate particularly attractive to investors looking to maximize their returns long term whilst local demand is growing fuelled by property shortfall of some 220,000 units.

The Central 22 project is a fantastic real estate investment opportunity and offers some exceptional financing options for clients aiming to minimize capital outlay whilst maximizing capital appreciation. The project comprising 72 houses consisting of 3 bedroom townhouses, 4 bedroom semi-detached houses and 4 bedroom detached houses are being marketed at 21% below market value with a total initial investment required for a 3 bedroom townhouse being just £39,975. To facilitate the final balance payment on properties purchased in Central 22, clients have a 15 year, 70% loan-to-value interest only mortgage facility at their disposal subject to a clear credit history, should lending criteria be insufficient the developer has committed to a full refund of all funds paid to date. Upon completion a 5% guaranteed rental yield for 24 months option is on offer to complete the investment package.

Considering the impressive house price growth expected in Slovakia, as over the coming years with analysts predicting in excess of 15% growth per annum over the next 3 to 5 years, value expected at completion (month 42) is £393,984 which when taking advantage of the complete financial package on offer translates to an outstanding return on investment of 192%.

As home to Slovakia’s capital city and centre of business the Bratislava region registers the highest per square meter price for residential property with a 6% quarter-on-quarter increase, despite remaining one of the most affordable cities in Europe. As its Eastern European counterparts have already proved joining the euro and securing further FDI will only serve to strengthen an already attractive property market.

Central 22 presents a truly outstanding opportunity for the discerning overseas property investor; a strategic location, superb potential return on investment, located in the fastest growing economy in Central Europe, huge demand from both foreign and domestic buyers presenting an immediate exit strategy, 21% below market value, and coupled with such unique financing options giving an incredibly low entry level of £39,975.

For further information about Central 22, or to find out about other Obelisk projects, please contact Obelisk on 0808 1600670 or email info@obeliskinternational.com or visit our website http://www.obeliskinternational.com

Slovakia’s star has been on the rise since it joined the European Union in 2004 and this former communist country has been giving investors plenty of reasons to take note of the potential that it has to offer ever since.

With its growing tourism industry, booming real estate market and dedication to becoming an active participant in the worldwide community, Slovakia is boosting investor confidence higher on practically a daily basis with these being just 10 prime factors driving confidence in Slovakia’s property market…

1. Slovakia’s EU Entry Bolstered Property Investor Confidence

The Republic of Slovakia officially joined the European Union in 2004. Since that time Slovakia has taken great strides to become an active participant in regional and worldwide affairs. It is a member of the United Nations, the World Health Organization, the Council of Europe and a host of other European and international organisations. Slovakia’s interest in regional and global affairs gives property investors confidence in the country’s desire and commitment to break the shackles of its communist past and work actively with other countries.

Its EU membership status also bolsters investor confidence as the country has the backing of nearly the entire European community. Property investors in Slovakia feel like they are on common ground with the people of the nation as well. As Slovakia becomes more acclimated to the practices of the West, its residents are experiencing a rise in the standard of living. Properties that reflect a more modernised look and feel are in high demand, along with holiday homes and flats for let – and investors can tap into all this market demand.

2. Slovakia’s Government is a Driving Force Behind Property Investor Confidence

The Slovakian government is an up-and-coming democracy – something that was long been desired by the people of the nation. The independence movement won out in 1993 when the country elected its first president. Today, the democratic-based republic is making great strides in lending stability to the new way of life. Membership of the EU and the impending likely adoption of the Euro all bode well for investors in Slovakia.

3. Interest in Slovakian Tourism Presents Property Investors with Opportunity

Interest in Slovakian tourism is very much on the rise as Brits and Europeans discover this eastern European gem. With the beautiful Tatra and Carpathian mountains and a variety of historic sites dotted across its stunning landscape, Slovakia is becoming of real appeal to Europeans. More than 30 million visitors travelled to Slovakia in 2006 alone. The easy entry into the country for EU citizens is boosting its star among would be travellers, add to this the mystery and majesty of the nation that awaits and travel to and around Slovakia is very attractive.The increase in Slovakian travel for sightseeing, skiing and other types of holidays is very good news for property investors too, the potential to buy to let real estate in Slovakia to holidaymakers is very high, especially in tourist regions such as Bratislava and the mountainous resort areas. The country is heavily marketing its winter sports potential to tourists from all over the world as well, and this represents an emerging market opportunity for property investors in Slovakia.

4. The Rate of Growth and Return from Property in Slovakia is High

The Slovakian real estate investment market has been on fire since the country opened its doors to foreign buyers in 2004. With an underdeveloped property market and demand high from both locals and holidaymakers, the potential for a big rate of return is substantial. The anticipated pricing growth within the country is pegged at 10 to 15% over the next 3 to 5 years according to the Slovakian Investment Property company. Rental yields are coming in at between 6 and 10% depending on the location, and with developments under construction across the country and some resale properties for sale as well, buyers in Slovakia will find no shortage of choice. The interest in the Slovakian real estate market and the potential investment strategies it presents make this Eastern European country one many buyers and investors are now taking note of.

5. Potential Euro Adoption Sparking Property Investor Interest in Slovakia

The Slovakian government, economists and the people of the nation as a whole are working very hard to solidify their commitment to the European Union by showing their desire to adopt the Euro as their currency. Slovakia’s bid for entry into the Euro currency zone won’t be fully decided until 2008 with a 2009 adoption if the bid is successful. The labour that has gone into the bid shows that Slovakia is quite serious about its ties to the EU and its desire to grow and thrive.If Slovakia gains full Euro zone status it will be the first post-communist nation to do so. This effort is very much a confidence builder for investors here, the level of commitment to success is virtually unquestionable on the part of the Slovakian people and the government that leads them.

6. Historical Attractions Make Slovakia an Interesting Location to Invest in and Visit

Beyond its incredible mountains and vast forests, Slovakia is home to a number of historic sites. Its castles, long hidden from the world behind the communist curtain, are now attracting some major tourism attention for example.Bojnice Castle in the city of the same name has an historic record that goes back to the 1100s, this majestic site is the most visited castle in all of Slovakia. It is however just one of many breathtaking historic spots visitors can witness when they come to Slovakia. The interest in this country’s medieval past and towering castles and churches is very encouraging for investors who wish to market their property specifically to holidaymakers.

7. Favourable Tax Structure Makes Slovakian Property Investments More Attractive

Slovakia’s tax structure is very investment friendly and quite easy to understand and the country operates mainly with a 19 % flat tax rate. When the ease of buying property in Slovakia is coupled with the simplistic and attractive tax structure, which includes generous deduction potential, the reasons why Slovakia is shining for property investors are crystal clear! Investors who do not want to get entangled with incomprehensible tax structures find Slovakia’s system provides them with confidence and ease of operation.

8. Slovakia’s Property Market Growth Gives Investors Reason to Celebrate

The property market in Slovakia is currently booming. Construction is under way throughout the country and buyers are gaining an average of 10 to 15% in underlying property price appreciation annually at the moment. Whilst the boom will not continue forever, the high demand and increasing local affordability for real estate makes investments made in Slovakia quite sound for at least the medium term. Slovakian property for purchase and let is desired by investors, holidaymakers and locals who want to live in housing other than communist standard block accommodation. Buyers here will find they have a number of potential investment strategies at their fingertips that can deliver decent returns – from buying to let to holidaymakers and locals, to buying for strict resale value – there is potential on all fronts and it is high.

9. Ease of Investment in Slovakia Gives Property Investors Confidence

Slovakia is one of the easiest countries in central/eastern Europe for investors to purchase real estate in. When Slovakia officially put out the welcome mat for foreign investors in 2004 it did so in a very big way. Foreigners are welcome to buy property and land both in a direct manner; although arable and forested land is off limits to foreign purchasers. All other investment properties can be purchased without the need to establish a corporation or even have a local legal signatory on hand. The ease of buying property directly makes Slovakia very attractive to investors. It also lends itself to boosting confidence for those who do choose to buy land and property in Slovakia.

10. Economic Upswing Makes Slovakia Attractive for Property Investors

The economic stability found in Slovakia is a very attractive feature for potential buyers. The country’s bid for Euro zone entry is backed by an economy that is growing. Although Slovakia is a small and relatively poor country, it is making great strides in economic development. The country’s GDP in 2006 was USD 60.5 billion with an estimated annual growth rate of 6%. Strong gains in real estate and thriving industry in metal products, oil, gas and textiles all combine to give credence to the idea that this economy will continue to grow successfully.There is no denying that Slovakia’s star is on the rise. It joined the EU in 2004 and hit the ground running. From being a former communist country to becoming an open democracy that welcomes and encourages foreign investment, there are plenty of reasons why investors are finding Slovakia so attractive. From its beautiful mountain resorts to its bustling cities, Slovakia is of interest to investors, expats and holidaymakers alike.