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.
Germany is the sixth European country in which the Slovak developer HB Reavis is active. In mid-February it announced two major acquisitions in Berlin and Dresden totalling 3.5 hectares. The announcement followed only a few days after media reported on the sale of some HB Reavis projects in the Czech Republic.
The oldest shopping mall in Bratislava, Polus City Center in Bratislava’s Nové Mesto borough, is undergoing major reconstruction. With an investment of €4 million euros, the interior and exterior of the shopping mall will undergo radical change.
Mlynica, a former industrial building in Bratislava rebuilt into a multi-purpose building, is one of 40 projects shortlisted for the prestigious European Union Prize for Contemporary Architecture – Mies van der Rohe Award. The biennial competition is considered to be the most prestigious architectural award in Europe.
The first of three residential towers of Sky Park, a project designed by the prominent Zaha Hadid Architect studio in Bratislava, reached its final height at the 31st above-ground floor at the end of last year. The other two towers will reach their final height during the first half of this year. Construction of the first of two office buildings and restoration of the historical heating plant known as Jurovičova Tepláreň are going on as well.
At the end of 2018, the offer of housing units in newly finished apartment buildings in Bratislava hit a low since 2002-2005, when this market started developing in Slovakia. This resulted in an increase of average prices of apartments.
The iconic building of the British retail chain Tesco department store in the centre of Bratislava has changed hands. The new owner of the building is the Mirage Shopping Center company of Žilina-based businessman George Trabelssie. Since 2016 the retail chain Tesco has sold five department stores across Slovakia. Trabelssie, who is close to former chair of the Slovak National Party (SNS) Ján Slota, acquired Tesco department stores also in Nitra and Žilina, the Hospodárske Noviny business daily reported. Tesco will continue to operate in the building on Kamenné Square as it will rent the premises.
The reconstruction of the Park Inn by Radisson Danube hotel in Bratislava has become the ugliest new building constructed between the years 2011 and 2018. As much as almost one third of 1002 participants in a survey organised by the website Trend Reality of the economic weekly Trend voted for it. The weekly launched the survey in early December. Its goal was to start a discussion and hold up a kind of mirror to developers.