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Irish Investors in Slovakia
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Sunday, 27 February 2005
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Slovakia is a country that has been investigated in some detail by Irish commercial purchasers, particularly since its accession to the EU. Laurie Farmer of Spiller Farmer in Bratislava said that there is now a noticeable Irish element in the city, especially since the arrival of such high-profile names as Ballymore Properties, Taggart Holdings and the Newry-based retail and property developer Gerard O'Hare, among others.
Farmer sees the areas of most potential in this market being retail and residential, and said that the buy-to-let sector in Bratislava is actually quite strong by comparison with other eastern European areas, with a strong demand for good quality property as long as you purchase in the right areas.
Just 900 new residential units were supplied in the city last year, whereas it has been estimated that there is a requirement for at least 5,000 units. It is predicted that the residential market in Bratislava will grow by 10 per cent per annum over the next five years. source: The Irish Post
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