Slovakia Investment: Economy
Slovakia property buyers will be interested in Slovakia's buoyant economic situation. Slovakia's economy is currently one of the fastest growing in Europe with strong annual GDP increases. GDP growth in 2007 was 10.4% and with 8.7% growth in Q1 2008, Slovakia is well on target for its forecasted annual growth of 7.5%. High economic growth and increasing tourist numbers plus low property prices are essential deciding factors when planning property investment in Slovakia.
Slovakia also offers additional economic inducements and its low taxes and labour costs have made it a prime location for many multinational companies. Government estimates point to foreign investment worth US$2.7 billion in 2008. Demand for accommodation from relocating businesses has led to a shortage in the supply of property in Slovakia, with Bratislava property most in demand, making Slovakia property investment additionally compelling.
Slovakia Investment: Tourism Potential
The tourist industry is another consideration for purchasers of Slovakia real estate. Although Slovakia's tourism is currently underdeveloped in comparison with its neighbours, figures - currently around 1.7 million a year - are predicted to increase at around 5% annually. The Slovakian government has implemented the ‘Tourism Development Strategy', with major state investment in the development of the tourist industry until 2013. A fully-integrated member of the EU, Slovakia became part of the Schengen area in 2008 and is set to join the euro currency in 2009. These developments are further advantages to property investment in Slovakia.
Slovakia Investment: Property Market
A look at the market for property in Slovakia shows some promising statistics. As well as a shortage of housing, especially in Bratislava, the Slovakia real estate market is also experiencing exceptional price increases. Property for sale in Slovakia has seen some of the strongest price rises globally. Figures for properties in Bratislava make particularly impressive reading - prices increased by 25% in 2007 and 20% is predicted for 2008. Annual rental yields are currently between 4.9% and 5.5%. Slovakia property investment is therefore an obvious choice. For more information, click here for the Slovakia Land and Property Investment Guide.
