Situated at the heart of Central Eastern Europe, sandwiched between the Czech Republic, Hungary, Poland and the Ukraine, Slovakia is currently one of Europe's hottest emerging markets.

A recent report by the Centre for European Economic Research predicted that the Slovakian economy would remain strong in the face of the current credit crisis, and the country's up-and-coming status was confirmed recently when its application to join the Eurozone was approved.

The adoption of the Euro will lead to a reduction in transaction costs, removal of exchange rate risks, an increase in GDP and stronger perception of the stability of the Slovak economy.

Commenting on the potential effects on the Slovakian property market, Petra Gajdosikova, managing director of Slovakia Investment Property, says: "The Euro adoption will bring an increase in foreign direct investment and foreign trade which will further boost GDP growth and the prosperity of the population. Joining the Eurozone will also increase confidence of international investors in Slovakia. All of which is great news for the Slovakian property market."  

She continues: "Since the country's EU membership in 2004, Bratislava, the capital of Slovakia, has seen property prices increase by about 15 per cent a year, due to the fast growing economy, rising wealth and strong desire for home ownership. The rise in property prices is expected to continue after Slovakia adopts the Euro and as such this is an exciting time to invest in the Slovakian property market."

Bratislava is well served by budget flights. Cheap airlines flying to the city include Sky Europe, Ryanair and Air Slovakia.

If you want to snap up a Slovakian property before the price hike, then Slovakia Investment Property is currently selling Zahradnicka apartments. This development features 22 studio, one- and two-bedroom apartments, including private balconies or terraces. Parking spaces are available on two underground levels, and prices range from £55,035 for a studio to £140,037 for a two-bedroom apartment. Completion is due in summer 2008. 

Slovakia Venture is also marketing a number of apartments for sale in Bratislava, with a starting price of 40,345 euros.

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For more information visit:
www.slovakiainvestmentproperty.com
www.slovakiaventure.co.uk

Article first published 30 May 2008