2 Homes for Sale in Slovak Republic
(€) € 135.000, Podkrivan, Banská Bystrica
Costs involved in buying, or selling, home in Slovakia are on reasonable levels. They include administrative fees, provision and payment for
professional service (real estate agent and/or legal advisor). There is no real estate transfer tax in Slovakia. The prices of real estate dropped in
recent years due to the influence of the global economic crisis.
Older Slovakian business partners are initially aloof and distant. This is usually less the case for younger Slovak businesspeople.
Process of buying real estate property in Slovakia is relatively simple, especially due to the fact there is no property transfer tax. Other real
estate-related taxes include flat 19% income tax applied on rentals and profits gained from selling the property. The real estate tax is determined by
the municipal authorities and its amount also depends on character of the property. There is no inheritance, neither purchase tax applicable.
Since 2004, when Slovakia entered the European Union, its market with real estate begun to flourish and attracts foreigners as well. Currently, there
are practically no obstacles to buy a property in Slovakia and local banks offer mortgage to the foreign nationals under standard conditions. Whole
process is not complicated and bureaucracy involved is often below the levels of many Western European countries.