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REAL ESTATE

Foreigner's only option is to rent

I would like to use this column to respond to some questions I've been asked by e-mail. There are some common themes to all the questions mostly concerning how foreigners can purchase real estate and about real estate prices.
As for purchasing real estate, the story is a bit complicated. I do not know who this government is afraid of, but the fact is that foreign citizens cannot buy property in Slovakia. Only business entities (joint-venture or a limited liability company) are allowed to purchase real estate. Still they are discouraged because the purchase price must be approved by the Finance Ministry. I have also been contacted by many Austrian people who were interested in buying a cottage in the mountains or a weekend house in the country and were disappointed with this restriction. I don't think that if foreigners were able to purchase property it would threaten Slovak citizens, but that idea is not very popular among our politicans or our nation.


Andrea Tašárová

I would like to use this column to respond to some questions I've been asked by e-mail. There are some common themes to all the questions mostly concerning how foreigners can purchase real estate and about real estate prices.

As for purchasing real estate, the story is a bit complicated. I do not know who this government is afraid of, but the fact is that foreign citizens cannot buy property in Slovakia. Only business entities (joint-venture or a limited liability company) are allowed to purchase real estate. Still they are discouraged because the purchase price must be approved by the Finance Ministry. I have also been contacted by many Austrian people who were interested in buying a cottage in the mountains or a weekend house in the country and were disappointed with this restriction. I don't think that if foreigners were able to purchase property it would threaten Slovak citizens, but that idea is not very popular among our politicans or our nation.

Purchasing real estate by foreigners is a problem for the time being so the only possibility remains to rent property. When talking about renting there are no restrictions. A foreigner can rent any type of real estate. This option is used mostly among foreign citizens working in Slovakia and rarely among those who would like to come to Slovakia from time to time just for the fresh air and beautiful nature. This is a pity because it could help the regions, especially those in the north and east part of country.

When talking about prices for renting a property, I have to mention that there are great differences depending not only on the standard but mostly on location. It is obvious that property in Bratislava (to rent or for sale) is much more expensive than the rest of the country. But differencies also exist within the cities. Generaly city centres are the most expensive and of course Bratislava Old Town is number one. Bratislava's least famous part, Petrlžalka is the cheapest zone in our capital but is still more expensive than an average location in the rest of the country. For a better illustration, take a look at the following table which shows average rental prices for flats.


Bratislava -maximum Bratislava - minimum Outside Bratislava

1-room flat 8 000 - 10 000 6 000 - 8 000 3 000 - 5 500

2-room flat 11 000 - 40 000 7 500 - 12 000 6 000 - 10 000

3-room flat 15 000 - 50 000 9 000 - 14 000 7 000 - 12 000

4-room flat 30 000 - 60 000 12 000 - 20 000 10 000 - 13 000

* Prices are in Slovak crowns / month. Rental prices for family houses or villas range from 9 000 to 60 000 crowns outside Bratislava and from 15 000 to 160 000 crowns in the city of Bratislava.


Andrea Tašárová is the Secretary General of NARKS (the National Association of Real Estate Agencies). She can be reached with questions or comments at narks@narks-real.sk

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