has lagged behind the Czech
Republic somewhat on the economy front since the
two countries went their separate ways back in 1993. But with
today’s outward looking government, this Eastern European
state looks set to blossom in the coming years.
wages are low in Slovakia, its GDP per capital was one of the Europe’s
highest in 2005, compelling the World Bank to say that it has the
fastest-transforming business economy in Europe. A further sign
of the times has been Slovakia’s accession to the EU in 2004,
and since then the country’s capital, Bratislava, which has
a population of around 550,000, has seen no less than a 20 per cent
rise in property prices. The joining of the EU also means foreigners
can buy without having to set u a company. Another big plus point
for Slovakia is its location. Bratislava, for example,
will only be half an hour’s commute from the international
airport and city of Vienna (where property prices are twice as much)
when a new motorway is opened in 2007. And with Prague
and Budapest also nearby, the buy-to-let possibilities
here seem pretty appealing. Consider also that low-cast airlines
already fly from the UK to Bratislava. Attractive city-centre apartments
there, mostly build before the War, have seen the most growth (up
to 20 per cent) in the past couple of years, a direct result of
high demand and very limited supply.
Slovakia’s capital is the obvious choice for investors, the
countryside appeals to families and young couples. Slovakia
is still a largely rural country, with mountainous regions reaching
over 2,000 metres and unspoiled forested areas where wild wolves
and bears still roam.
coverage lasts for around three months and the ski resorts of the
High Tatras mountains are well established with
opportunities to buy off-plan properties. Buyers in the market for
a holiday rental property may want to take a look at Poprad, where
the new AquaCity theme park has recently opened.