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Central European property investment specialist Letterstone has announced the launch of its latest investment opportunity, ‘Octopus’, in Slovakia. As the fastest growing economy in the European Union, Slovakia is a shrewd choice for investors looking to take advantage of the market in emerging Europe. Octopus is a contemporary-style apartment scheme located in the capital city of Bratislava. It comprises 120 units ranging from studio flats up to individual three bedroom penthouse apartments. Prices start at approximately 85,000 euros, and investors can expect yields of between 8-10 per cent.

Slovakia has fast become the top destination for foreign capital investment amongst the EU’s newest member states. With an economy that is forecast to rise between 4 and 5 per cent in 2005, and having just become the largest manufacturer of cars per capita in the world, analysts consider Slovakia as one of the most exciting destinations in the EU.

Slovakia enjoys a close proximity to popular cities such as Vienna and Budapest. Increasingly commuters are living in Bratislava and working in Vienna or Budapest, and so are able to enjoy First World incomes whilst capitalising on Slovakia’s low cost living expenses. On top of this Slovakia also enjoys extremely low tax rates, of 19 per cent across the board. Its educated work force and low wages are encouraging industry to move eastwards, and all of this will have positive long-term effects on property prices.

Octopus itself is situated within one of the main residential areas of the city. It is 10 minutes walk from the beautiful Old Town and conveniently located near bus and tram routes and local amenities.

Bratislava has a strong local rental market with a high demand for new, contemporary developments, such as ‘Octopus’, which contrast with the more traditional Soviet era high-rise apartment blocks that have dominated the city’s skyline to date.

CEO Simon Hill comments, “Foreign investment in Slovakia is taking off, and we have received more enquiries about the region than any other destination. However, developers in Bratislava are keen to preserve the local rental market and so only 20 per cent of the ‘Octopus’ development will be open for foreign investment, to help safeguard its value and curb overheating.”

Interested parties can telephone Letterstone on 020 7384 7488 for more information on Slovakia, or subscribe on-line to the company’s investment round-ups at www.letterstone.com.

Editorial contacts:
Nicky ImrieT: 020 8870 7426E: nickyi@phoenixplc.com

This press release was distributed by ResponseSource Press Release Wire on behalf of Phoenix Plc in the following categories: Home & Garden, Construction & Property, for more information visit https://pressreleasewire.responsesource.com/about.