slovakia tipped for overseas property investment 2009
News Posted On: 16 April 2009
Slovakia is one of the best places in the world right now to make a property investment, according to Property Abroad.com. The low prices of property and economic robustness of Slovakia were cited as reasons for the recommendation.
"Property is cheap and set to get cheaper for British buyers, as Sterling continues to strengthen against the Euro, which Slovakia has just transferred to as its currency. On top of that Slovakia's economy is proving robust amidst the international downturn, and growth will return in 2010, said Les Calvert, director of the overseas property portal.
"There is absolutely no doubt in my mind that prices for property in Slovakia will grow by 100% - 150%. Over the next 5-10 years," he added.
In an earlier press release detailing why Slovakia was the most robust emerging market, Les said:
"Slovakia GDP growth was recorded at an incredible 7.1 for 2008, we see it falling to a more sustainable 2-3% for 2009, where it will likely stay for 2010. We predict similar things as above for Bulgaria, but Bulgaria's current account balance is in a far worse state than Slovakia's."
Property Abroad is currently advertising property for sale in Slovakia from just over £5k, and that is for an actual property not land.
At that price it is entirely possible that the property will need a lot of work, in fact demolition to re-build may be the better option, but £5k is still an incredible bargain even for land with planning permission. The portal is also advertising a farm-house for £17,000. With properties at prices like that and such a bright economic future, one is almost forced to agree with Property Abroad's assertions.
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