Investing in Bratislava

[almo]

Since you're in the business and living in that neck of the woods I'm sure you already know.

Perhaps you'd care to mention the locations by name?

 

[icecool]

Hi,
Reading alot of positive views of Bratislava and am thinking of investing here. Was woundering if anybody had any contacts or information in Ballymore's development there.
Anything l need to be aware of?
Any good estate agents to contact?
Roughly what price bracket l would expect for a typical 2 bed appartment in the city centre?

Also if anybody has any views on Poland particularly Posnan, l would appreciate your views on investing here also.
What are peoples view's on Posnan versus Krakow?

Regards
Macd.

Take a look at the High Tatras aswell for investment. Worth a look if your'e looking at slovakia to compare pro's and con's with a city centre let to an apartment in the mountains by skiing etc. I found property cheaper in the tatras with more appeal and foresee rents being good.

 

[almo]

icecool, I'd been to the tatras but found the roads etc a little poor (this was 2002) have they been upgraded? It's a stunning area though!

 

[Ancutza]

I'm assuming that by 'in the business' you mean selling real estate? If so then you are off track. I manage a furniture factory on behalf of my Irish boss and own a commercial premises with my brother-in-law.

I also own 3 apartments and 2 sites.

I buy, I don't sell.

I don't know of any areas in Bulgaria where the authorities are developing to the detriment of private enterprise.

I am, however, sure that if you know where those areas are then you will share that information with the rest of us.

 

[icecool]

icecool, I'd been to the tatras but found the roads etc a little poor (this was 2002) have they been upgraded? It's a stunning area though!

Quite right the area is stunning. I would say since 2002 they have been working hard! i actually flew to Bratlislava and then got the train through to Poprad. On route there were plenty of signs of improving roads, bridges you name it. Looking forward to getting back there for the snow in a couple of months!

 

[almo]

There was talk recently in Vienna that there would be some sort of Austrian led development (Erste were funding it) and one local hotel owner was selling a large plot of land (80ha) for it. Have you heard anything about that? The local guy was Milos Mistic (the last name I might have misspelled).

 

[auto320]

Hi,
Reading alot of positive views of Bratislava and am thinking of investing here. Was woundering if anybody had any contacts or information in Ballymore's development there.
Anything l need to be aware of?.

At the risk of bringing this thread back to Bratislava!!!

The main thing that this city has going for it is its closeness to Vienna; lots of shoppers flock across the border to do their weekly shopping. Tesco were clever enough several years ago to snap up a large (state owned, I think) department store in the city centre and it must have made a fortune for them.

Ballymore bought a large piece of the city centre from (I think) the city council, and are doing a major development there, Don't know much about it, the residential end of it wouldn't interest me too much, and I would imagine that the retail units will be priced at the upper end of what is viable.

The old part of the city centre has been tidied up well in recent years, nice bit of character etc, like Temple Bar without the vomit. In order to get a good idea of the overall market there, take a walk up the hill to the castle and look across the river. Here you will see the biggest property problem in Bratislava -- an enormous apartment district that displays all the worst of communist central planning. I can't remember the name of this area, but I do know that this complex has some of the worst social problems in Europe. I recall that the highest divorce rates, highest suicide rates etc etc in Europe are to be found there. So, if investing, check this area out and stay as far as possible away from it.

My own strategy for Bratislava, if I were to invest there (which I am not), would be a small retail unit on a good street near the shopping areas. The tradition of Austrian shopping, as well as the improving local market, would suggest that the retail sector should do better than the residential. It might be worth looking at what Ballymore has to offer in the retail area, although as I said I would imagine that they have done their sums and will know what these are worth.

I have only been in the city three times, but all visits were made with eyes wide open for opportunity, so that's my advice for what its worth.

The other possibility of course, as you will agree if you do a lot of walking around the streets there, is that there is a strong future for the alcohol rehab business!!