Buying property in Slovakia

(Moderated)

very useful links: reality.sk topreality.sk  great guidance you can get from: in-slovakia.com

yes dear its complicated, you have to have permanent resident in order to buy flat in Slovakia.

not true..more info bellow or on request


Since joining the European Union, virtually anyone can buy property in Slovakia. The real estate market is open and does not discriminate neither citizenship, nor place of residence. Also, it does not matter whether the potential buyer wants an apartment in the city, house in the countryside or cottage in the mountain area.

The only exception is agricultural and forest land. According to the Law on protection and use of mineral wealth (Mining Act or so-called Water Act 184/2002 Coll), foreigners can not buy or receive such property as a gift. However, from the 1st of May 2007 foreigners can buy (or get as a present) agricultural and forest land, provided that the potential buyer conducted business on the land for a minimum of three years and has temporary residence in Slovakia.

Also, according to the legislation, legal persons (companies) having registered seat in Slovakia, are also considered as Slovak residents and as such, can purchase agricultural or forest land without any restrictions. So, for foreigners there is another option of establishing a company in Slovakia (which is very easy) just for the special purpose of buying such a property. Either way, if a foreigner wants, he/she can buy (directly or indirectly) any property in Slovakia.

The property market was fully liberalized in May 2011, when the transition period negotiated with EU ends. But even nowadays, it offers some of Europe’s best opportunities with low prices and solid growth (for the right type of property in the right area). And, of one thing foreign investors can be sure – as virtually all property sales are sold to locals, and 95% are owner occupiers in their family apartment or house, so investors will always be able to sell their property on to a Slovak buyer, ensuring a safe exit.

Property Buying Process

Buying property in Slovakia is not very different of buying property in any of the EU countries. It is actually quite simple. Here is a step-by-step guide:

The process of searching for property is successfully completed, the buyer made an offer and the offer was accepted by the recent owner. Buyer and seller agreed to all terms of trade.
The buyer then lodges the whole price (or an agreed deposit) to a notarial custody or to a bank account where funds are kept till the property right is transferred to the buyer. At this time, there is an official pre-contract agreement signed by both parties. This sets out the terms of the deal, as well as locking both the buyer and seller into the deal. (If anyone changes his/her mind after this, he/she will have to pay any agent’s costs to the other party.)
Buyer should make sure to have a survey carried out through an independent surveyor. When the surveyor’s report is arranged and sent to the solicitor in order that the sales contract can be compiled. All of the documentation should be translated into the buyer’s language.
Both sign the sales contract. The seller’s signature must be verified by a notary or the registry.
The purchase price is released to the seller after the buyer gets an extract from the cadaster (Slovak national information system) denominated in the name of new owner or the purchase contract was confirmed by the cadaster with an indication of ownership permit. This process usually takes about 4 weeks.
For legal certainty, buyer should never pay cash before the transfer of property ownership is finished.

If someone sells or buys property through real estate agency, the agency will ensure a comprehensive legal service and prepare all the documents necessary to transfer ownership of the property. Another possibility is to contact a lawyer for preparing the contract, but lawyers will not monitor the sale itself.

[Moderated]

Good information, what I have wrote is obtained from people who lives here for 15 years . They told me that only residents can buy properties here in Slovakia ,unlike Hungry where everyone can buy properties there.
Thanks for this information it could be useful for many people.

You are welcome guys...Lovely stay in Slovakia for everyone!

Hi

I had the same question concerning buying the property in Slovak Republic, thank you for answer.
But concerning the permanent residence still I have a question.

If I do not have a permanent residence in Slovak republic (but I had povolenie na pobyt for overall 24 months) and decided to buy some property, in this case will I be given any residence permit to visit Slovakia, because of having property there?

Thank you in advance