Why it is worth investing in real estate in Slovakia: prices and advantages

Economic growth of Slovakia

After Czechoslovakia split into two independent states in 1993, Slovakia remained less prominent on the tourist map for a while, while the Czech Republic attracted many more travelers and those looking to immigrate. However, thanks to improvements in the economic situation and living conditions, Slovakia has been able to attract a multitude of foreign guests and those who decided to stay here permanently.

Real estate in Slovakia

Real estate in Slovakia is often purchased not only for permanent residence but also as a vacation home or a backup option for the future. For temporary stays in the country, it is sufficient to obtain a standard Schengen visa, which allows you to stay in the European Union for up to 90 days. However, if you wish to stay for a longer period, you need to apply for a residence permit.

It should be noted that the process of obtaining this permit in Slovakia is easier than in most other European countries. Often, owning property or starting a business in the country can serve as a basis for obtaining a residence permit.

Housing prices and their dynamics

It is important to emphasize that the economic situation in the country significantly affects the level of housing prices. Unlike many countries where a decline in real estate prices is observed, Slovakia is experiencing steady growth. Over the past few years, the country has become one of the European states with the highest economic growth rates, ranging from 1.5% to 2.4% per year. This has made it attractive for investors, both with large capital and for beginners.

Comparing the data on housing prices, it can be observed that they have significantly increased over the past two years:

• In the first quarter of 2017, the average cost per square meter was about 1350 euros.
• By 2019, it had increased to 1560 euros per square meter.
• This shows an increase of almost 16%.

Although there is a slowdown in the pace of price increases in the second quarter of this year, the National Bank of Slovakia predicts that there will be moderate growth in real estate prices in the future.

Regional price differences

Currently, the highest housing prices are recorded in the capital, Bratislava, where the cost per square meter has reached 2072 euros. The following cities are:

• Trenčín Region – 1146 euros per square meter;
• Zhilinsky region – 1099 euros;
• Košice Region – 1046 euros.

The most significant price change occurred in Bratislava, where housing costs increased by 8-12% over the year. A particularly noticeable rise was recorded in the following segments:

• studio (garsonka);
• one-bedroom apartments (2071 euros per square meter);
• two-bedroom apartments (1934 euros per square meter).

At the same time, prices for large multi-room apartments are rising more slowly.

Prospects for investors

It can be confidently said that the combination of sustainable economic growth and favorable conditions for real estate acquisition makes Slovakia particularly attractive for investment. In this context, it is also worth noting the relatively easy process of obtaining residency, which allows new residents to successfully integrate into the local community.

All of the above factors contribute to the growing interest in real estate in Slovakia and herald its development in the future.

The rise in housing prices and incomes in Slovakia

Currently, there is a noticeable discrepancy in the growth dynamics of housing prices and wage levels in Slovakia, which amounts to 23%. Nevertheless, this does not deter the local population from wanting to purchase their own homes. One of the key factors contributing to this is the low mortgage interest rates, which average around 1% at most banks operating in the country.

Attractive places for buying real estate

Slovakia offers plenty of attractive options for real estate investments, among whichBratislava,KošiceandPopradThey lead in terms of buyer interest.

Conclusion

In conclusion, I want to emphasize that purchasing real estate in Slovakia is a promising and profitable step. The country, which has experienced economic growth and enjoys stable housing prices, is becoming increasingly attractive to investors, both local and foreign.

Real estate here, although it is increasing in price, is still affordable compared to major cities like Moscow or Vienna, which makes it particularly attractive for those looking to invest their money profitably.

Advantages of buying real estate in Slovakia

• Diversity of objects:from apartments in the center of Bratislava to cozy houses in the suburbs.
• Favorable mortgage conditions:low interest rates.
• Simplified purchasing process:the absence of requirements for confirming the financial origin of funds for foreign buyers.

Slovakia, with its beautiful natural landscapes and high quality of life, attracts not only tourists but also people looking to build their future here. By boldly deciding to purchase property in this country, you are investing not only in real estate but also in a comfortable and stable future.

I hope that my article will help you better understand the advantages of the real estate market in Slovakia and inspire you to make a decision that aligns with your dreams and needs.