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About rob62

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    HPC Newbie
  1. I dont ski myself which may seem a little strange when buying a "Ski" apartment. However it enables me to rent it out during the peak season to maximise income. The ski infrastructure is modern, more investment is planned and there is lots of snow. (see www.holidayinfo.sk). I dont suppose the runs would satisfy the most experienced "black" run skiers. They are welcome to pay the prices in the Alps. Most of the skiers are poles, slovaks and czechs, many there for the weekend. Although recently I have seen a growing number of Austrian and German number plates. The area is not reliant on western skiers on packaged deals including flights weeks like Bulgaia is. This trade can easily go elsewhere, dependant on fashion, disposable income and exchange rates. The mountains have a summer season - being popular with hikers, mountainbikers as well as those who just want to enjoy the forests and lakes. In the area are golfcourses, aquaparks and historic towns. The developer offers a 5% rental income for 3 years. Beyond that time will tell!
  2. Hi - so another Brit has found the attractions of Slovakia, keep it quiet or else we will have "chippies" on every corner next! The scheme you are looking at is similar to ours in that you can use the property yourself for holidays and then the developer rents it out and pays you an income. All the facts on the website about economic growth and property prices having increased all seem broadly correct. Clearly no country is immune from the global economic problems - so dont expect to make a quick buck - 5yr plus investment. Key points to be clear about, firstly the payement schedule - you must make sure you pay the bulk of the price on completion once you have had chance to inspect the property. Secondly - Slovakia is in the euro now, so while this is good for medium term growth the pound is very weak at the moment. Hopefully by the time your apartment is finished (in my experience projects tend to over run) the rate will improve. Hope this helps Rob
  3. High risk - potentially high reward. Make sure the heating is electric not gas!! Actually their is a serious point here - there is on going political tension between Ukraine and Russia, not being in the EU Ukraine is in effect left to fight its own battles. Too risky for me.
  4. Hi - thanks for the advice everyone. For the time being I am sticking with the purchase. While I fully except that the sking is not up to North American standards, the area primarily targets East Europeans and Austrians/ Germans who are able to drive to the Tatra Mountains in a few hours on the newly constructed motorways. In other words "casual"weekend visitors rather than Western "hardcore" skiers. The area is not well known to the British which actually is part of the attraction for me, the last thing I want on holiday is fish and chips and carling! Additionally the area has a strong summer trade based around walking and sightseeing of historic castles etc. and thermal spas. One concern I have is whether too much accommodation is being planned which if not controlled could affect the beauty of the place. Anyway I am other there in May to have a look at progress and build quality etc. No more money is due till completion so I have plenty of time to mull over my options Regards Rob
  5. Agree with much of what you guys say - the collective wisdom of HPC is valuable! Would not touch Bulgaria with a barge pole, a poor country far to reliant on cheap air fares to bring the tourists in. We origanally visited the Tatra region in Slovakia on holiday and fell in love with the place, partly because it isnt overrun by Britsh!. The decision to buy a place was as much a decision of the heart as the head. Still think that the fundamendals are sound for a good long term investment as the resorts are visted mainly by East Europeans with a few Germans and Austrians who are 3 hours drive away. As the prosperity of the region increases then there will be more disposable income to spend on leisure. As well as sking the area offers summer attractions to hopefully provide a potential income all year round With the exchange rate it isnt the bargain it first appeared, and I dont expect re-sale prices to increase for at least five years. A long term project!
  6. Hi - I am buying a ski apartment in the Tatra Mountains near Poprad. Although the project is a little late progress is being made and should be complete in the summer. The question is is it still going to be a good investment with the current globalturmoil. I have forward bought the currency at £/euro 1.23 not great but better than at the momement. A large percentage of the units are being bought by Slovaks and Poles - economies that are showing strong growth It is a gamble but I feel that long term it should be a good buy both as an investment and as a holiday home for our use Am I mad?
  7. Still going ahead with a purchase in Slovakia for personal use and as a long term investment. The country joins the Euro in Jan 09 so no run on the currency. In this development next to a ski resort most of the buyers are Poles or Russians countries where the culture of credit is less established. The Slovakian property market is still increasing as it never underwent a boom as such The price has increased due to the weakness off the pound, but I still consider it to be a good long tem buy
  8. Depends a lot if you wish to use the property yourself - in which case it needs attactions that appeal to you. In general I would suggest somewhere that is politicaly safe and expanding economically, of the Eastern European countries I would suugest Slovakia as the economy is booming and they are set to join the Euro in Jan 2009. Also the beer is cheap!
  9. My advice would be : Invest in a stable country to minimise any risk. A country with a "hard" currency like the euro Also somewhere with cheap flights provided by more than one airline to ensure competative prices and availability. (No point buying a place abroad if you carnt afford to get there on a regular basis). Somewhere with all year round attractions to ensure a long letting season. Im looking at possibilities in Slovakia as property is cheap, they join the euro next year, and as well as cheap flights it is accessable by road and rail from Austria and Germany. Of particular interest are the ski resorts in the Tatra Mountains, which as well as winter sports they offer summer attractions such as golf and spa facilities to broaden the appeal
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