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Investment Summary
- Investment opportunity in the hottest real estate market in Europe today
- Koliba Villas is a brand new residential development of 71 luxury apartments
- At least 10% below current market value in this area
- Exclusive residential area of family homes overlooking the city of Bratislava
- Legal Fees are paid for
- No finders fees or commissions
- Outstanding capital growth potential
- Rental yield of 8-9%.
Click here to download this Investment Prospectus in PDF format (2,2mb)
Development SummaryThe Development and LocationKoliba Villas is a new residential development located in the prosperous Koliba area in Bratislava’s most exclusive area.Koliba has traditionally been among the most desirable locations for higher income families in Bratislava, combining both idyllic hillside surroundings of trees and forest with the convenience of being only 2 miles from the city centre.
Consisting of family houses built on purchased land, there has been overwhelming pent up demand for both families who cannot afford to buy and build as well as for corporate workers who see the area as ideal for its picturesque location and proximity to the business district and Old Town.
Koliba Villas will address this demand, providing 71 luxury apartments in nine ascending units on the southern face of the Koliba hills overlooking Bratislava and the Old Town. Crouched between pine trees and accessible via a one way lane with only a handful of family houses for company, this promises to be an exclusive address in a prime residential area.
Funding for the construction is provided by the second largest bank in Slovakia, VUB, which is itself owned by the multinational Italian bank Intesa Holding International S.A. Slovak Investments have also negotiated mortgage finance options with VUB on the back of VUB’s strong business history with the developer and clear confidence in Koliba Villas.
Our assessment leads us to believe not only that the market for Koliba Villas will provide strong rental returns and capital growth, but also that the prices of the development per meter2 – comparable to similar developments and to housing stock in Koliba – is without doubt under current market value for anything of comparable quality and location.
Transport and Distances
• Nearest Bus stop: 200m
• Main Railway Station: 2 km
• Bratislava City Centre: 3 km
• Presidential Palace: 3km
• Old Town: 4 km
• Main Highway to Vienna and Prague: 2 km
Amenities
• Passenger lifts to all floors including underground parking
• Controlled access to underground parking
• Storage space
Peace of mind
• All apartments benefit from a 2 year builders warranty
Specifications
• Walls: brick 38mm, isolated facade
• Windows: plastic with external aluminium finishing
• Entrance doors: wooden safety doors
• Interior doors: wooden
• Floor: kitchen, toilet, hall, bathroom – tiled
• Rooms: laminated parquet
• Heating: separate boilers
• Garage doors: Electric
• Stairways: terrazzo
• Interior banister: stainless steel
• Exterior banister: stainless steel with glass
• Bathroom: Fully fitted including sink, taps etc
Resale Considerations
Currently mainly locals have bought into this development as it has not yet been marketed to foreign buyers. This means that you will not face huge competition upon completion as most buyers will be owner occupiers. A big attraction of this development will be the lack of supply in the local area for this type of product for rental tenants as there are currently no competing schemes in the immediate area. As a buy to sell investment, this development will appeal to a wide audience for resales as it is located in a modern, secure enviroment with rental investment potential added in.
Tenant Profile
The tenant profile for Koliba Villas on completion will be professionals working in the City and corporate lets. Individual lets to City professionals and corporate lets to City firms are by far the best types of tenancy. This market will demand a high level of finish and the latest in terms of technology, fixtures and furnishings but in return will be reliable and pay well.
Other considerations and Costs
In Slovakia fitted kitchens are not included in new developments and you should expect to pay approximately £3000 for a good quality kitchen including all white goods.Slovak Investments have negotiated a commission from the developer and are not therefore charging investors a fee. Your conveyancing legal fees are also covered by us should you use our recommended solicitors.
Secure underground garages are available for purchase at approximately £6500 and we would advise all our investors to purchase underground parking as this is essential for the rental market you will be targeting. Prices vary from block to block.
Comparable Information
Our Slovakian Partner, Tomas Pivarnik has an intimate knowledge of the rental market in Bratislava having let out his own properties here for eight years. We also have a string of real estate agents on our books all of whom we use to gather research and advice. Slovak Investments has spent months researching this deal for our investors and have turned down at least 10 projects before finding this one which we believe is selling at way below market value, and has by far the most potential for both capital growth and rental return. In-fact, based on our research, our investors will have instant equity of at least 10% upon reservation as comparable developments in Koliba with lesser views are selling at between 60-70 000 Sk/m2. Our Koliba apartments are on offer at approximately 56 000 Sk/m2. Note: All Sk/m2 price are calculated by including half the size of the terraces in the floor area.
We have spoken with a number of letting agents all of whom have confirmed that this location is highly sought after and that a rental income of between £7000-£8500/annum is realistic for new apartments here. There are not many new apartments in the very near area as most of the property in Koliba is upmarket family homes. Therefore a new development of luxury apartments here will face little competition for tenants and yields should be a solid 8-9%.
The Buying Process
Buying in Slovakia as a foreigner is a relatively straightforward process and we have lined up all the relevant parties to make the process as smooth as possible for you.
How to Reserve
When you are ready to reserve your unit email with your prefered unit as soon as possible and we respond with a reservation form if that unit is still available. You will have 7 days to get your reservation money (100 000Sk) to the developer’s account. After your reservation form is recieved, you will have 21 days to sign the preliminary contract during which time your solicitor will translate and check through your contract to make sure all is in order and the terms are good. We will also put you in touch with our recommended mortgage broker who will obtain a mortgage pre-approval based on your creditworthiness.
Exchange of Contracts
Once your solicitor is satisfied with the contract, you or your power of attorney will sign it (within 21 days of reservation) and you will then have 14 days to pay your deposit of 30%. All subsequent payments as outlined below, will be covered by your mortgage lender (your total capital outlay is therefore only 30%).
Stage Payments
30%: Within 14 days of signing the preliminary contract
40% After core construction is completed
25% Once the interior is completed
5% at completion
Completion
Upon completion, the final contract is signed and the property ownership is transferred to you and registered in your name.
Click here to download this Investment Prospectus in PDF format (2,2mb)
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Solicitors in Bratislava, Slovakia :
Tax advice Slovakia : New apartments Bratislava : Slovakia Market Information : Property in Slovakia : Bratislava Property Information
