Slovakia

Bratislava is one of Europe's least known capitals, despite its location a mere 40 miles from Vienna. This is a shame, because the city, like Slovakia as whole, is an attractive place for the foreign property investor. The economy has been growing at more than 5% a year, inflation has fallen back below 3%, while unemployment, although still well into double figures, is gradually coming down. Slovakia is hoping to adopt the euro in 2009, ahead of the Czech Republic, Hungary or Poland. In an additonal plus, there is a flat tax of just 19% on income, with a similar rate of VAT. Stamp duty has been abolished, and banks are ready to offer mortgages to foreign investors on good terms. The market in Bratislava, and elsewhere in the west of the country, grew around 18% during 2005, with rises of as much as 23% in and around the capital's historic centre. Prices are expected to keep on increasing, driven by the strength of the economy and Slovakia’s growing name recognition among foreign investors. Tourism is on the rise, too, with Ryanair, easyJet and Sky Europe all serving the city. Sky Europe also flies to direct to Dublin.

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