Real Estate, page 18
Housing and investment in Slovakia
More housing units
LAST year Slovakia experienced a boom in housing construction with 28,321 housing units started. This is the highest figure for the last 18 years, the Ministry of Construction and Regional Development wrote on its website in early May.
Real estate consultancy services in Slovakia
CB Richard Elliswww.cbre.skCB Richard Ellis is one of the world’s leading commercial real estate advisers, with over 300 offices across more than 50 countries. The firm has been active in Slovakia since 2005.
Downturn forces tenants to optimise
CUSHMAN & Wakefield’s latest European Landlord & Tenant Survey, conducted with a total of 750 tenants and landlords across Europe, revealed that more than half the tenants have changed the way they are utilising their office space, with both desk-sharing and flexible working becoming increasingly popular.
Real estate market returns to earth
AFTER the steep escalation in the volume of construction of residential properties, and in their prices, during the last few years in Slovakia, the current market situation is much calmer. The global economic downturn has chilled the Slovak real estate market and developers and bankers as well as those interested in purchasing residential property are being much more cautious.
Construction bill proposes to reduce red tape
BUILDING in Slovakia requires stamina: not only for the work itself, but also – and sometimes mainly – for the paperwork and permits one needs, regardless of whether the final building is a huge shopping centre on the outskirts of the capital or a small family house in a village in central Slovakia. To ease the pain associated with all the paperwork required from construction companies and builders, the Construction Ministry has proposed a new law and has received a lot of criticism for it – mainly from municipalities.
Vígľaš castle to rise again
THE CASTLE in Vígľaš, a village in central Slovakia, will survive to witness its own reconstruction – despite a few shaky moments in recent years. The new owner of its ruins, the Zámok Vígľaš company, has received €6 million for its reconstruction from European Union (EU) funds, Pavol Výboh, the village’s mayor, told the TASR newswire on May 12.
Real estate and construction in Slovakia
Ministry of Construction and Regional Development(MVRR SR)www.build.gov.skMinister: Igor Štefanov
Land alone won't make you a developer
THE DAYS when anyone who bought a piece of land could become a developer are gone for good: the greatest challenge for today’s developers is how to secure funds to finance their projects, says Ivan Valent, the chairman of the board of directors of major property developer HB Reavis Group. Valent does not think that the current global economic downturn has yet reached the bottom, but he is convinced that the fittest developers with the strongest projects will survive.The Slovak Spectator spoke to Valent about the specifics of the Slovak property market, the mood of developers, regional disparities and the main challenges that the market faces during the current global economic downturn.
ASSOCIATIONS IN CONTSTRUCTION SECTOR
Association of Construction Entrepreneurs in SlovakiaPresident: Ján Majerskýwww.zsps.sk
CONSTRUCTION COMPANIES IN SLOVAKIA
Doprastav, Bratislava, www.doprastav.skEurovia – Cesty, Košice, www.eurovia.skHolcim, Bratislava, www.holcim.skHornex, Bratislava, www.hornex.skIn Vest, Šaľa, www.invest-in.skInžinierske stavby, Košice, www.inzinierske-stavby.skMetrostav SK, Bratislava, www.metrostav.skSibamac, Bratislava, www.sibamac.skSkyBau, Žilina, www.skybau.skSkanska BS, Prievidza, www.skanska.skStrabag, Bratislava, www.strabag.comVáhostav-SK, Žilina, www.vahostav-sk.skZIPP, Bratislava, www.zipp.sk
New construction bill
AFTER nine years in preparation, the Slovak government approved the bill on territorial planning and construction, known simply as the construction bill, on March 18. Now the bill is awaiting action by parliament in order to become valid in July 2010, the SITA newswire wrote.
CONECO reaches 30 year milestone
THE BIGGEST construction fair in Slovakia, CONECO, symbolically opens the domestic construction season. This year will be no exception and the gates of the Incheba Expo Arena will open on March 31 to welcome exhibitors and visitors to the 30th edition of the fair.
Public funds to keep construction afloat
THE CONSTRUCTION sector, which had been enjoying a boom until a few months ago, is now having to face the impact of the global economic downturn like every other sector of the economy. But while construction companies expect a drop in the private investment which was behind the recent vibrancy of the industry they hope that the state will now step into the breach.
EU funds cannot cure all problems
USING financial resources from the European Union could be a way to soften the impact of the global financial crisis on national economies, say many economists. The Slovak government has also announced its aim to make the drawing of European Union (EU) funds easier and more efficient since this could help the country’s economy to fight the effects of the crisis. The construction sector is no exception.
DEVELOPMENT COMPANIES IN SLOVAKIA
Ballymore, Bratislava, www.ballymore.skHB Reavis Group, Bratislava, www.hbreavis.skIpec Management, Bratislava, www.ipec-group.skJ&T Real Estate, Bratislava, www.realestate.skPenta Investments, Bratislava, www.pentainvestments.comSekyra Group, Bratislava, www.sekyragroup.sk
LABOUR FORCE IN COSTRUCTION SECTOR
Number of workers in construction at the end of 2008- 185, 777; of these 56% were self-employed.Companies with less than 100 employees made up 35% of total employment, followed by companies employing between 100 and 250 people. Companies with more than 250 workers accounted for 9% of total construction employment.
STATE INSTITUTIONS IN CONSTRUCTION SECTOR
Ministry of Construction and Regional DevelopmentMinister: Marian Janušekwww.build.gov.sk
Bratislava becomes less expensive
PRICES of apartments in Bratislava have been decreasing for several months, Martin Lazík of the National Association of Real Estate Agencies of Slovakia (NARKS) told the Sme daily in mid-March. He said that February was not an exception and that he expects this trend will continue.
Farmland has become a profitable investment
INTEREST in buying agricultural land has been increasing. And not only Slovaks but more and more foreigners are interested in purchasing arable land, the price of which ranges in Slovakia from Sk40,000 to Sk120,000 (€1,328 to €3,983) per hectare. The returns on investments in agricultural land are long-term and thus the main interest in investing in this type of property comes from foreigners, the Hospodárske Noviny business daily wrote.
A rising demand for leisure property
MANY Slovaks built holiday homes during socialism, when travel abroad was restricted. They often constructed them on their own in recreation resorts or rebuilt them from former family houses in villages.
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