Slovakia's property market is set to boom in 2007, according to a leading industry analyst...

Carl Dear of www.offplanmillionaire.com has underlined the impressive property growth that the country's capital - Bratislava - is currently experiencing.  Bratislava is located right on the Slovakian border with Austria and very close to Vienna.  Dear believes this proximity to Austria is a key factor in Bratislava's growth.

Rich Austrians are buying up property there, Dear reports.  "They are investing heavily so that’s pushing up prices as well," he said.  And Slovakians are also getting in on the action.  "The locals in Bratislava are going to work in Austria every day and come back. Their money has a lot more leverage in Bratislava itself," Dear added.

13 per cent growth forecast

Dear reports that the current rate of house price growth in Slovakia averages between 10 and 13 per cent, but is set to increase further in the near future.  "Growth is very, very good at the moment," he said.

"They are now offering 100 per cent mortgages for locals, which is a magnet for any property market. Construction is increasing slightly and, like Latvia, I think that over the next two to three years it is going to boom quite heavily." he continued.

A holiday homes market?

Dear believes the country is "not really the sort of country you would go on holiday to".  However, not everyone agrees with this view.

Meredith Drynan, sales consultant, for E-Quity.com pointed out, "Slovak professionals as well as British and Irish investors are looking to Slovakia's Alps for holiday homes. The Tatra Alps in Northern Slovakia share a border with Poland and are an increasingly popular destination for skiers and people who enjoy the outdoors all year round."

Indeed, property prices in this region have grown from between 30% and 60% over the last 9 months.

Philip Lane, of Slovakia Property Shop and Slovakian Property Developers, has sourced a superb piece of land directly on a ski slope in a growing village in the Alps, where he is building 22 luxury apartments. Philip said, "I love Slovakia and its economy is actually growing faster than any other Eastern European country right now".

For more information on Pinewood Valley apartments, please contact Meredith Drynan on m.drynan@e-quity.com or 0207 952 7655 or click here.