Interest in the acquisition of recreational real estate has increased over the last three years. The demand has been spurred by the activities of developers in this sector.
“Developers are interested in the acquisition of land in mountain regions like the High and Low Tatras, the Lower Fatra or close to aqua parks,” Ján Palenčár, head of the National Association of Real Estate Agencies in Slovakia (NARKS), told the Hospodárske Noviny economic daily.
People are purchasing recreational real estate especially for their own needs. In some cases, they combine the usage of the real estate for their own recreation and for short-term rental. Developers in some cases also offer the possibility to rent out such real estate.
The current prices of recreational real estate differ considerably. They rank from €800 per square metre up to €2,500 per square metre. The price depends on the locality and type of real estate as well as the standard of its fittings and fixtures.
The most expensive recreational real estate is in the most attractive localities, for example at Štrbské Pleso in the High Tatras or in Demänovská Dolina in the Low Tatras. Cheaper offers can be found in the regions of Orava or Kysuce.
While Bratislava already accommodates almost 30 shopping centres, another one is on the horizon. Macho Consulting, a company that has been devoted especially to residential projects in the past, will build Matrix Mall in the more or less industrial zone of Bratislava in the borough of Nové Mesto. The shopping centre on the corner of Magnetova and Vajnorská streets, close to the Vozovňa Nové Mesto depot, will offer retail and office space.
Trnava-based tycoon Vladimír Poór has sold the recently opened City Arena shopping centre in Trnava to Peter Korbačka, the head of the board of directors of the developer J&T Real Estate. The latter already owns the Eurovea shopping centre in Bratislava. Neither the price nor other details of the transaction have been disclosed.
The emptied defective Apollo Business Centre 1 in Bratislava will be replaced by a brand-new construction. The developer HB Reavis estimates the launch of demolition work for the end of 2018. Construction work on the new business centre, the Nové (new) Apollo should start in late 2019 and be complete in 2021. Exact dates will depend on permission processes.
Bratislava is to get another revitalised public space. The developer Corwin is renewing a neglected park on Kmeťovo Square in the Old Town borough. Works on the park, which lies between Bernolákova and Wilsonova Streets, have already started and should be complete by the beginning of the summer.
The main industrial regions in Slovakia are reporting a lack of accommodation capacity for workers. These are in the vicinities of industrial and logistics parks mostly along highways connecting Bratislava with Košice (D1), leading from Bratislava to the Czech Republic (D2) and the dual carriageway from Trnava to Banská Bystrica (R1).
The developer, belonging to the Bencont Group has already started pulling down the buildings and cleaning the three-hectare area. “We believe that Rínok Rača, which we will begin to construct soon, will be the new centre of the borough and will naturally fit into the life of its citizens,” said Martin Šimurda, representative of the developer Rínok Rača, as cited in the press report.
The new indebting rules tightened by the National Bank of Slovakia (NBS) will primarily impact citizens of the Slovak capital, Bratislava. They will be able to buy on credit, from an average wage, maximally a one-room flat in a new building or a two-room flat in an older block of flats. Other regions will be significantly less affected by the new lending cap, Poštová Banka has found out.