Slovaks Increasingly Invest in Real Estate Abroad
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Loading... - Ryder Smith
- 02 Aug 2024
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Slovaks are showing a growing interest in investing in foreign real estate, with a particular focus on Spain's sunny Costa del Sol, according to a report by SITA. This trend is fueled by various factors, including domestic inflation, rising real estate prices, and a desire for a higher quality of life and better weather conditions.
Popularity of Spanish Real Estate
The pandemic crisis significantly boosted the popularity of Spanish real estate among Slovaks, a trend that has continued to rise following the start of the war in Ukraine. Many Slovaks are looking for family residences or investment properties that can generate additional rental income.
Real estate agency Re/Max reports that Slovak buyers are primarily interested in two-bedroom apartments near the sea, with typical budgets ranging from €300,000 to €500,000. Spanish properties often provide a more affordable alternative compared to those in Slovakia, especially in regional cities.
Lucie Krajná from Re/Max highlights the cost benefits: "For approximately €360,000, you can get a three-room apartment with an area of more than 100 square meters on the Spanish coast." In contrast, the same amount in Bratislava would buy an average 75-square-meter apartment in the Old Town or a slightly larger one in Ružinov.
Diverse Budgets and Property Types
Prospective buyers have a range of budgets:
Apartments: €250,000 to €300,000
Terraced Houses: €350,000 to €450,000
Detached Villas: €750,000 to €950,000
Luxury Residences in Marbella: Up to €10-20 million
Previously, apartments up to €400,000 were most commonly purchased for partial rentals. Today, the average budget for such investments has doubled.
This trend reflects a broader movement among Slovaks to seek both lifestyle improvements and profitable investment opportunities abroad, making the Spanish real estate market particularly attractive.
