Hi - is anyone else buying or thinking of buying in the Tatra mountains? or am I going to have Russians, Ukranians and Czechs as my only neighbours?

are you buying in or near the Telgart development by any chance.

The place we are buying is next to the Tatra Golf course near Poprad which is the main town for the ski resorts. Not sure how close Telgart development is?

Hi,

I just had a look at the prices for this development and they are certainly competitive. What attracted you to this development?

proximity to airport and ski slopes. the people are good to deal with ,the fact that the price is competitive as you mentioned and in my humble opinion that Slovakia is very undervalued and underrated
I bought on first phase that sold out rapidly but I know that second development is also shifting quickly
hope this helps

Apart from the fact we love the tatra mountains, the historic castles and the spa's there were a number of economic reasons why we chose Slovakia, namely :

1 Rapidly growing economy ~ 10% GDP year on year
2 Lots of investment from multinational companies like Kia and Peugeot as well as EU money for infrastucture improvements
3 Join Euro in Jan 2009
4 Lots of cheap flights from many UK airports from Sky europe and Ryanair
5 Partly as a consequence of the above house prices are increasing rapidly. Data on Slovak National Bank website.

Did I mention the good summers and the cheap food and beer?

Rob

Couldn't agree more.Think there is only 2 apartments left on phase 2 so other people must agree with us as well.

I was wondering if you were able to claim the VAT back on your purchase? I have been infirmed that this may be possible but not sure how to go about it

complicated,also depends if its added to your price,seems like if not then not worthwhile hope this helps

Hi, guys I'm looking at the ski apartments in Poprad also. There are 2 developments next to the golf which one are you talking about?
I've looked at both and was wondering what your thoughts were.
I also spoke to someone re re-reclaimimg VAT and they said it was not as straight forward as you might think. would be good to here from you...

Not entirely sure what you mean by VAT issues...you are exempt capital gains tax after 5 years of ownership. You would be subject to VAT/DPH for profits realised in a sale within the 5 year period. You normally pay 19% on rental incomes.
To rob62, you would not be alone buying in and around Poprad ...there are at least 10 English speaking ex-pats in Levoca (20Km East) and more that I am aware of who have brought closer to the Tatras.
In fact(radio tatra internationalis an english speaking radio station for the region and the owner of aquacity made his fortunes in UK before moving back to his homeland. Poprad has changed much in the 8 years I have been visiting the region.
Velky stastie!

Do you think there is a good rental market for apartments in the Tatranska lomnica area. And what amount of rent do you think is reasonable for a new build 1 bed apartment?

quote:

Originally posted by letmellor:

Hopefully this will include the text...
A quick google hunt found the following:
http://www.ownersdirect.co.uk/tatranska-strba.htm
or
http://www.interhome.co.uk
Each of which demonstrates that there are few foreign nationals buying to let at the moment. I believe that many of the panelaks (old soviet styled flats) that have been converted (with varying degrees of care) are primarily for the Slovak market particularly those Bratislavans who now have more disposable income then the rest of their neighbouring Slovaks. The international (western European) uptake on Tatra mountain skiing is still low but will inevitably increase. Given that Slovaks are desperate to get out of their family homes when they are in their 20s and many are trying to move from flats to houses, the increases in Slovakia's housing market will rise further yet.
What are your impressions of the area...have you travelled out there?

Dear,letmellor Thanks for your reply. Yes I have visited Poprad in November when I had a look around. Tatranska lomnica looked lovely.I went to the Hotel International Black stork golf course and had a look at a development to be built there. I am considering a new 1 bed off-plan ski apartment there and wanted to gage the rental. Price is around 110,000 euro. Developers say rental should be good for both summer treking etc and winter skiing.So want to know if this is true and if the demand would be there from well off locals and tourists? Any comments? Do you know the area?

Sp65, I know the area well and was there touring about last week. Skiing was still available at Lomnicky Sedlo (accessible through Tatranska Lomnicka) although the lower nursery slopes had melted out. As a brief guide there seems to be two distinct seasons in the Tatras so Ican verify...
Summer trekking (May - Oct). Outside the season they shut the higher passes/routes down to preserve the wildlife and flora. Climbing/walking is possible in winter but only with guides with internationally recognised qualifications.
Skiing (Dec - Apr). Tourism is picking up and during Dec/Mar and bank holidays you would probably get a mixture of local and international bookings. Out of the holiday/half-term periods the slopes are predominantly filled by:
Weekends - Slovaks and tourist.
Weekdays - Locals and eastern European (Russian, Ukrainian) tourist.
As for rental I guess marketing is the key - you wont be competing with the hotels (of which there are many) and the Slovaks are not the best at advertising to an international market. Marketing in Germany, Holland, Czech and Russian as well as UK would expand your horizons and uptake (and translation costs)!
There are Brits who have moved out there to run B&Bs who seem to be doing ok.
Whatever you decide - good luck!

Letmellor, Thank you again for your informative comments.Much appreciated!!

How come you know so much about the area and slovakia, are you an expat? Might catch up with you if i visit area again.

I hope to decide whether to buy in the next week.
Just worried about credit crunch at the moment . Thats why I need to know if apartment would pay for itself.
Also need to look into local tax for rental income etc. If you have any info on this it would be of help.Thanks

Oh trust me Im no expert on Tatra living...I would have to be Goral for that! However, I have been visiting Slovakia constantly for about 8 years and renovating an extensive historic house in Levoca for the last 4. I am out there most holiday times checking on build progress (stage 2 of 5 is near completion so we have somewhere to stay). With regards to income from rent you cannot offset mortgage outgoings like UK. The tax rate is a flat 19% for nearly everything in Sk. I cannot comment on your financial situation and degree of risk - what size deposit, size of mortgage, repayment rates, additional investments etc have you made?

The flat would be around 110,000 euro, 20% deposit to start with and depending on what else I can raise before completion will dictate what mortgage I take out if any. Build is 2-3yrs so will decide latter on amount to borrow.
If you are happy too, I would really like to give you a call and chat through a few things. If not I understand.

Hi sp65, the moderators keep binning our messages-ask any queries on here if you can. I will do my best to assist.

letmellor, yes you are right 2 messages I sent have disappered. will try to post more to you during the week. Thanks for trying SP