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.
Fewer than 3,000 new apartments are available on the market of new residential buildings in Bratislava, which is the lowest figure for the past two years. As demand for new apartments is still relatively lively, prices for new units continue to grow slightly, the TASR newswire cited the real estate agency LEXXUS.
The Austrian company Soravia has opened a new retail zone in Liptovský Mikuláš in northern Slovakia, the Retail Park Liptovský Mikuláš. It is 9,000 square metres and is the first investment by the Austrian developer outside Bratislava. The investment totalling €22 million has created 100 jobs so far.
At the end of the second quarter of 2018, apartments under construction numbered 76,000 in Slovakia. This is the highest number since 1996 when the Slovak Statistics Office began to register this data. Because the figure for residential real estate under construction in the early 1990s was low, figures from the second quarter of this year are the highest since the launch of independent Slovakia in 1993, the Trend weekly reported.
Construction of a brand new bus station and the extensive reconstruction of Mlynské Nivy Street are going according to plan.
The PNK Group, an international developer of industrial and logistics real estate from Russia, has joined the European real estate market by constructing a new industrial park called PNK Park Sereď in western Slovakia. Spanning 45,000 square metres of industrial space, the park offers premises for various uses: storage, distribution centres and light industry assembly halls.
After the British carmaker Jaguar Land Lover (JLR) announced its plan to build a brand new plant in Nitra, local real estate prices skyrocketed. Now the situation seems to be calming down. This is because the central bank has tightened conditions for taking out mortgages as well as developers announcing projects for the construction of new apartments.
The Czech investment fund Arete Invest, focusing on investment in real estate, is building a new warehouse for the international chain of fashion e-shops Factcool in the industrial park at Nové Mesto nad Váhom.