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Bratislava ready for tourists and buyers - 12 November 2007
Bratislava was recently voted one of the best property investment markets in Europe.
Bratislava’s International Airport is becoming an increasingly popular destination for low-cost airlines, such as Ryanair, with many direct flights from most major European cities. Recent changes to flight paths and air connections have led to a doubling in the number of flights to Slovakia.
Tim van Dijk Project Manager at Obelisk International comments, “The availability of homes as opposed to apartments, outside the Bratislava city centre is scarce with limited current supply. Slovakia has an approximate 220,000 domestic housing deficit, which in any overseas property investment, an acute shortage of property will greatly enhance the profit margin.”
Bratislava is home to over 500,000 permanent residents and is Slovakia’s strongest and fastest-developing property investment market. A further 130,000 people commute into the city every day.
Van Dijk concludes, “Slovakia has the fastest-growing economy in Europe, and two upcoming events, entry into the Schengen Zone in 2008 and the adoption of the Euro in 2009, are set to accelerate the country’s growth in popularity, investment, and development.”
Despite an average 21.3 per cent year-on-year growth in property prices, Bratislava remains one of the cheapest and most affordable cities in Europe. Strong economic growth, low income tax, no capital gains tax and very low transaction costs are the main reasons for the influx of investors to Slovakia, which will further encourage capital appreciation in Bratislava.
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