Eastern Slovakia Increasingly Popular for Real Estate Investors

Eastern Slovakia Increasingly Popular for Real Estate Investors
17/07/2018 , by , in INTERNATIONAL

Recreational real estate in eastern Slovakia is becoming increasingly popular amongst domestic property investors. The most wanted properties are cottages near Michalovce in the eastern part of the country.

According to Martin Lazík, a real estate analyst at nehnutelnosti.sk, a property website, demand has increased by 20 per cent compared to 2017. In May alone, Slovak interest in cottages in the region increased by as much as 50 per cent.

“The reason for this in particular is the Zemplínska Šírava lake, which has again become a significant recreational area for the whole east of Slovakia,” Mr Lazík told Hospodárske Noviny.

Holidaymakers are also looking for alternative and cheaper ways of spending holidays by the water.

“The low price of services in eastern Slovakia, compared with the west, means that Slovaks increasingly use the opportunities that, for example, Zemplínska Šírava, has to offer,” said Michal Macháč, an expert on travel from TM Travel. “As well as the Zemplín region, people are also becoming more interested in cottages in Modra and Senec, closer to Bratislava.”

As far as long-term investment is concerned, the biggest interest in recreational real estate is in the Low and High Tatras and their ski resorts. The second most wanted location for recreational housing is Modra, where demand has grown by 35 per cent compared to 2017. On the other hand, the area of Terchová village in north-western Slovakia has fallen in popularity from first to third position. The Senec region followed in fourth, with an annual increase of 30 per cent, based on an analysis by nehnutelnosti.sk. At the same time, the highest increase in prices was registered in the Žilina Region – 12.5 per cent.

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