ARTICLE

Fly To Buy in Slovakia

Slovakia is far more understated than its neighbours Austria, Hungary, Poland and the Czech Republic, but it has a strong history revealed in its charming medieval towns and vibrant folk traditions. It is also refreshingly free of commercialism. There are a number of beautiful national parks and the mountains harbour numerous ski resorts - reasons enough for Jason and Heather Muir to explore a little further on their Fly To Buy foray into the Slovakian property market.

Fly To Buy in Slovakia

Tips for buying

  • First, you need to find an English-speaking estate agent who can oversee the whole buying process for you. Beware of estate agents who offer to take care of the legal side of your purchase – you really need to appoint an independent lawyer.
    Once you find a property, you need to put down a deposit of around 20% to secure it.
    Surveys are recommended and can be arranged by your agent.
    With no complications, the purchase can take as little as four weeks.
    If you are buying to rent in Slovakia, consider the property's proximity to ski slopes – for successful winter rental, it's crucial to be no more than three hundred metres from a run. Much of the rental market in the Tatra area is geared to Eastern Europeans, but it is estimated that in the next 12 to 18 months, with the increase of Western European visitors, the rental market will really take off and rental yields will increase.

Why Slovakia?
Since Slovakia joined the European Union in 2004, the number of British tourists has increased and English is now far more widely spoken. The capital, Bratislava, has also firmly established itself as a popular attraction for low-cost city breaks.

Property prices are still relatively cheap, although they have risen hugely in the last two years. In the past year alone, there has been an increase of 30%. However, for as little as £20,000 you can still find something desirable in the rural areas, as long as you're ready to carry out some series renovations or even rebuilding. In the more cosmopolitan areas, the average three-bedroom costs around £65,000.

Where to buy:
The most popular part of Slovakia is the area around the Tatra Mountains, the only truly Alpine mountains in Eastern Europe. Historically this has been a tourist destination for many Eastern Europeans because of its excellent skiing in winter and beautiful scenery in the summer.

The nearby town of Poprad has an international airport which now has two flights a week from London Stansted and it is anticipated that this will really open up the region to those with property aspirations.

Related sections: Fly To Buy

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