Slovenia Real Estate – 284% Forecast Growth Over 10 Years

Slovenia real estate has been named one of the top ten places in the world for investors to buy property yet most overseas property investors know little about Slovenia but that’s all about to change. Let’s look at the background to the Slovenia real estate boom and why investors are making such great gains and why these gains look likely to continue.

Location

Slovenia is a small country about half the size of Switzerland that site right at the crossroads of Europe and has borders with Italy, Austria, Hungary and Croatia. Slovenia although part of the old Yugoslavia was very proud of its culture and history. After the break up of the old Yugoslavia Slovenia avoided the turmoil that engulfed the rest of the Balkans and started to develop its economy. Former US President Bill Clinton a frequent visitor to the country stated that Slovenia was an example of what can be accomplished politically and economically, in a very short time and Slovenia has made massive progress in the last few years, especially after joining the EU in 2004.

The Economic Boom

Slovenia is not only a member but has adopted the euro as its currency and this has instilled confidence in the country. Slovenia has seen considerable investment from not just from the EU - but from overseas individuals and companies, who see the potential for a country that is situated right at the crossroads of Europe, a with good transport links and a highly educated workforce. Since joining the EU Slovenia has quickly achieved the highest GDP of any new member state and this has set off strong rises in Slovenian real estate prices. Let’s look at this property boom in more detail and why it is likely to continue for the foreseeable future. Strong economic growth of course means more disposable income for the local population which, means people want and can afford better quality housing. With strict laws on land development in Slovenia and at its most acute in the capital Ljubljana demand simply exceeds supply and prices have been rising strongly by as much as 30% per annum in many locations. This growth looks set to continue, not just in the capital but all over Slovenia

While GDP is strong based upon EU and private investment backed by sound government macro economic policies, there is another factor driving the boom – the growth in tourism. The government is spending millions of dollars promoting Slovenia and its diverse attractions. It may only be a small country of just 20,000 square kilometers but it has something for everyone. Soaring mountain peaks, dense fairytale alpine forests, rolling valleys dotted with vineyards, rivers, beautiful lakes and historic cosmopolitan towns. Slovenia has a lot to offer and its location at the crossroads of Europe makes access easy via road, rail and an increasing number of flights many from budget airlines offering cheaper fairs than ever before.

So where should you buy your Slovenian house or villa?

The capital Ljubljana is an obvious place to buy but there are many other destinations to choose from depending on your budget and investment aims. The popular tourist resorts of Lake Blend and Bohinj are firm favorites and two of the most popular tourist areas of Slovenia. Slovenia is popular for skiing and the resorts in the beautiful Julian Alps are popular with investors seeking rental income from their Slovenian property. There is a small but un-spoilt, stretch of Adriatic coastline with the pretty Venetian fishing town of Piran from where on a clear night you can see the lights of Venice. There are also the wide expanses of rugged terrain that surround the mighty Soca River and the Soca Valley which it flows through is a paradise for outdoor pursuits. A popular city is Maribor with its great location for reaching many of the above attractions – its Slovenia’s second city and has a bustling cosmopolitan atmosphere. Slovenian real estate offers something for everyone and the good news is Slovenia is still an affordable overseas investment destination.

Buying Slovenia Property

There are many Slovenian estate agents that specifically cater for overseas property buyers and the buying process is straightforward and designed to protect both buyers and sellers and buying a property should take only about a month to complete. There are also finance options available with mortgages available from two major banks and the standard deposit in Slovenia is 10%. Mortgages are secured on the property in Slovenia not the buyer’s principle residence, maximizing cash flow. If you want to buy a Slovenian property make sure you visit the country and get a feel for the area you are buying in. As with any overseas property investment location is the key to making longer term gains, so take your time. If you are considering buying overseas property then consider an investment in Slovenian real estate – you get a lot for your money and the future looks bright for this undiscovered and beautiful country.

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