Foreigners coming to Slovakia to work for the manufacturing industry try to live as economically as possible. They often do not arrive with their families and only work for a short period of time.
“They live in various rooming houses, in former guest houses and similar properties where as many workers as possible can live for the cheapest,” Ján Palenčár, head of the National Association of Real Estate Agencies in Slovakia (NARKS), told the TASR newswire.
Workers try to find accommodation close to the city where they work. They can also rent accommodation due to laws permitting short-term rentals.
“The law gives preferential treatment to the flat’s owner which means that the flat’s owner does not have to fear that if they terminate the agreement with the tenant, the tenant will stay in the flat by using legal obstructions,” Pálenčár said, as quoted by TASR.
At the same time, the flat’s owners pay taxes to the state, he added.
The municipality, on whose territory the accommodation facility is located, adopts the regulation with which it sets the local tax for accommodation. In Bratislava, for example, the tax amounts to €1.70 a night per person in the facility.
Taxes depend on the number of nights people spend in the facility.
One Fashion Outlet 1 near the village of Voderady, the biggest outlet centre in Slovakia, has filed for bankruptcy, the Trend weekly informed. The further fate is now in the hands of the courts.
After withdrawing its application for an important investment statute for the Connected Bratislava package of projects, the developer J&T Real Estate (JTRE) is continuing to work on selected projects on the Danube River embankment. Instead of an extensive package of projects on both sides of the Danube, it is now focusing on the zone around Eurovea and Panorama City.
While the share of the market held by rental apartments in the countries of the European Union is between 19 and 62 percent, in Slovakia it is only about 6 percent. This negatively affects labour force mobility and housing for young families and handicapped citizens, the Benchmarking Information Exchange Project has discovered. The Supreme Audit Office (NKÚ) in Slovakia participated in the project and focused on the comparison of support for rental housing between Slovakia and the Czech Republic and Austria where the share of rental apartments on the market is 21 percent and 42 percent, respectively.
Slovaks are increasingly interested in recreational real estate. The demand has increased by 20 percent over the last year. The most wanted properties are cottages near Michalovce in eastern Slovakia.
Healthy offices providing a sustainable environment in terms of energy, as well as their surroundings, are a world trend that has not skipped Slovakia. There are a number of buildings that have already received or are applying for the world-renowned LEED, BREEAM, WELL or Fitwell certifications. One of them is the Einpark office building in Petržalka, which – as the first in Slovakia – has successfully completed LEED (Leadership in Energy and Environmental Design) pre-certification to the highest degree, Platinum.
The abandoned building of the former Lamač department store in Bratislava’s borough of the same name will return to life. The new owner, the investment group Dynastion, will revitalise it into the Karpatia centre. Apart from shops, it will house co-working offices and provide space for a youth community centre. The complex revitalisation of the building should start this autumn.
US real estate investment fund Heitman sold the Aupark Tower office building in Bratislava to the real estate fund of the investment bank Wood & Company in early June. The consultancy company CBRE, which mediated the deal, describes the transaction as the biggest on the Slovak office real-estate market for seven years. The price, however, was not disclosed.