Property Investment In Slovakia

Hidden in the heart of Europe, Slovakia is one of the continent’s best-kept secrets, with its proximity to Poland, Hungary and Austria, it's a country of many contrasts, with beautiful scenery, fabulous mountains and winter-sports, friendly people and medieval towns. Yet it’s also one of Europe’s fasting growing economies, with current growth in household income exceeding 10% p.a. the local rental market looks set fair, and importantly, will be the first new EU member to adopt the Euro in 2009. Slovakia has a rich diversity of landscape: rolling planes and vineyards of the South, dense forest in the central regions such as the Slovak Paradise National Park and the great Carpathian & High Tatra Mountain peaks to the north.

This small country is set to become the next property hot spot and possibly the most exciting new location for second home ownership or investment in Europe today. With some of the most spectacular scenery in Europe, historical towns and cities, fairytale castles, snow caves, spas, and world class ski resorts that cost a fraction of the neighbouring Austrian and Swiss Alps, Slovakia is fast capturing the attention of many canny foreign investors. Buying property in Slovakia is straightforward; the country has met all the EU standards and the legal and registration processes are transparent and reliable. Of course, when making any sort of purchase make sure that you have a reliable solicitor. Prices around Bratislava have been a little inflated of late, but the rest of the country offers exceptional value, with prices starting as low as £20,000.

Now we compare this with the problems in other eastern European states and all bodes well for Slovakia. Latvia has good economic growth yet has inflation running at 9.5% exceeding the EU requirement. The Hungarian economy growing only by 1.4% in the second quarter of 2007, was well below expectations. With the Bulgarian infrastructure problems, which although surmountable have added another layer of despond to the overbuilding in places such as Sunny Beach and Bansko, this leaves Poland as the only real contender for investment property. However, for the sheer joy of buying into a lifestyle property with great investment potential that you can actually LIVE in, Slovakia has a great deal to offer.

The Slovakian countryside is sublime and the styles of property can be as old as the hills or as recently built as this year. All offer extreme value for money, no, it's not your 'kiss me quick' beach apartment with all that entails, Slovakia is, to be candid, a middle class venue, for the economically challenged, but culturally rich. You can ski, walk, ramble to your heart's content, go to top level musical and dance events, pamper yourself in delightful spas and generally live life as it used to be lived. It offers tranquility, culture, little crime and you could stumble across a small castle that would not disgrace a French nobleman to renovate for next to nothing. The craftsmen and women are available at good prices, quality furniture comes at ridiculously affordable sums, and people really put themselves out for you, as I discovered recently, having bought a perfect-pitch grand piano at 4p.m. from a store 20 miles from my home, it was delivered to me in the dead of that night on a horse and cart.

With good growth in Slovakia expected year on year, now is most definitely the time to invest.