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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.

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