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Slovakia revs up for summer sales - 1 May 2007

The Slovakian property market is set for a period of expansion as buyers begin to realise the sector's potential, it has been claimed...

According to Adrian McDermott, managing director of Escapes2.com, investors are just beginning to realise the opportunities in the Slovakian property market, with attractive prices and room for growth drawing attention.

"Investors are looking at the prices and they’re realizing they can get a lot for their money and with the potential of the area, I think it’s one that’s going to really be attractive for property purchases over the next couple of years," Mr McDermott said.

He also pointed out that the majority of interest in Slovakian property is coming from the UK and Ireland, although the country’s citizens are also providing healthy demand.

Slovakia currently has one of the fastest growing economies in Europe and as a result its citizens are finding the money to take out mortgages and get on the property ladder.

Carl Dear, investment strategist with Offplan Millionaire, yesterday pointed out that investment in Slovakian property could peak ahead of the country’s adoption of the Euro in 2009, in anticipation of a rise in prices once the currency is in use.


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