Investment Property in Slovakia & Why It's a Sure Thing.
International investors seeking the next frontier for superb investment potential are excited by Slovakia. The author Nicholas Marr explains why this Eastern European state is ticking all the right boxes for overseas property buyers
Its rare for me to get excited about a new emerging market but I believe Slovakia is worth getting excited about. Real estate investors seeking new frontiers to invest in international real estate should get on the internet right now and start to research the prospects that the Eastern European country offers.
Despite the global slowdown that has reduced confidence in many European housing markets it seem Slovakia remains an attractive proposition to investors.
During 2008 Slovakia's economy has been one of the bright spots in Eastern Europe this year, and it is expected to come in at over 7 percent growth for the year. While the country's central bank and other analysts have lowered the forecast for growth in 2009, it is still expected to be near 5 percent or even above that amount. That will make it one of the strongest economies in Europe.
Slovakian real estate prices are still low compared to other European countries and leave plenty of room for capital growth. The only restriction Slovakia has imposed on the purchase of real estate by overseas buyers is on agricultural and forestry land.
The Slovakian government demonstrates its forwarding thinking by its approach to renewable energy. Slovakia is looking at solar energy as a means to provide the country with clean, renewable energy resources. The country has two solar power plants in the works in Rimavska Sobata and Orechova Poton.
The country has a small but growing economy focused on automobiles, electronics and construction. The slowdown in Europe will affect the exports of these products, but they should still see solid growth, according to experts. The country will officially adopt the euro as its currency at the beginning of 2009, which will lock in lower interest rates and is expected to help boost the economy.
Bratislava's M.R. Stefanik Airport (BTS) is set for expansion, which will help the growing country and the capital area. The airport is the main international destination in Slovakia and is 12 kilometers to the northeast of downtown Bratislava. The airport currently serves over 2 million travelers, which is an increase of 700% since 2001. The airport is served by several low cost companies, including Ryanair and SkyEurope, which has helped to grow in the past several years. Other companies that fly here include Aeroflot, Lufthansa, Air Slovakia and Czech Airlines, plus a number of charter carriers which are in service mostly during the summer holiday season.
In addition to its main industry, travel and tourism are taking an increasingly important share in Slovakia's economy. The capital city of Bratislava is a growing hub of culture as well as being the focus of political and economic life. It has many museums and cultural festivals every year that draw in thousands of visitors. The National Gallery is the largest and most well known art museum in the country.
Outside of the capital city, the many small towns have plenty of old and interesting buildings for visitors to explore and enjoy. The country's location between Vienna and Eastern Europe means it has a wide range of buildings constructed over the past 1,000 years. Influences include the Austro-Hungarian Empire as well as the Ottomans. Castles, churches and countless old towns and villages are a history lovers' dream.
The outdoors also offers plenty of attractions for those who visit Slovakia. The country has several beautiful national parks as well as mountains, valleys, forests and rivers to explore. The Tatra Mountains in the northern part of the country offer great scenery and the most visited national park, the High Tatras or Vysoke Tatry. There is skiing, mountain climbing, hiking and lots of natural wonders to see. Other parks have more to offer, including forests, rivers and caves for explorers.
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ABOUT THE AUTHOR
Nicholas Marr has gained a unique insight into international real estate investing from his role as CEO of overseas property portal http://www.homesgofast.com and http://slovakia.homesgofast.com