Neighbors are our neighbors …
It’s no secret that real estate prices in Ukraine, and in particular in Kiev, are equal to European ones, and sometimes even exceed them. That is why it will be interesting to trace the dynamics of the real estate prices of our immediate neighbors.
Neighbors are our neighbors … Belarus
Despite the active development of Belarus and the tight control of the cost per square meter by the state, real estate prices in Belarus are constantly rising. But do not forget that the increase in value does not occur without a reason.
This is influenced by many factors – from the increase in the cost of building materials to the increase in the wages of workers. For example, over the past few years, the cost of one square meter in Minsk has grown by more than 40%.
In September 2007, prices in the secondary real estate market in Minsk increased by 0.85%, which is $ 17. Thus, the average price of 1 square meter overcame the level of $ 2000 and today amounts to $ 2007 / sq.m.
Most of the month, prices for two-room (1.54%) and four-room (1.25%) apartments rose. One- and three-room apartments rose by 0.34% and 0.66%, respectively.
When purchasing property in Poland, it is necessary, first of all, to take into account the geographical location of the object. The closer to the east of the country, the lower its price will be. The most expensive real estate is located naturally in the capital of Poland – Warsaw. The average cost of 1 square meter is $ 700, and an apartment of 100 square meters will cost $ 120-150 thousand. In other Polish cities the cost of 1 square meter is 20-50% less.
Over the past three years, there has been a pronounced interest in buying apartments as an investment. This is a permanent source of income through the rental of real estate. Small-scale premises as well as luxury apartments enjoy increased interest in the real estate market of Poland.
If we consider the property as an investment in order to increase capital, we can get 10-11% per annum. The risk of investing in Polish real estate today is minimized due to changes in legislation and the dynamic growth of the country’s economy. It should be noted that the country’s accession to the European Union expands market opportunities and becomes an additional incentive for foreign investors.
The residential real estate market in Slovakia is one of the most mobile when compared to its closest neighbors – Hungary, the Czech Republic and Poland. Foreigners who invest money in Slovak real estate are mainly private individuals who have money but do not want to invest it in securities. And therefore they buy property for rent or profit.
If a foreign investor wants to come to Slovakia and purchase real estate, then it is desirable for him to work together with a lawyer or an agent who can confirm the value of the property being purchased, and that this property will not depreciate in the future.
It is logical that the highest prices in the capital of Slovakia – Bratislava. Here, in modern high-rise new buildings, the cost of 1 sq. M ranges from EUR 650 to 1000. The price varies depending on the area, infrastructure, and quality of repairs. One-room and two-room apartments, when converted to a square meter, cost 10% more than 3-4 room apartments.
Apartments in the Bratislava-2 and Bratislava-4 areas are in the greatest demand. This is a sleeping area, with a good environment, and at the same time located near the city center.
More affordable housing can be found in the secondary real estate market. Here you can buy a two-room apartment for EUR 30-65 thousand. And the farther from the center of Bratislava, the cheaper real estate.
As for the capital’s suburb, the cost of a large house with a total area of 200 square meters, with an adjacent piece of land – 8 acres, will cost EUR 120-150 thousand. A smaller cottage, about 6 acres with a garage and a garden – for EUR 80 thousand.
The real estate market in Hungary is experiencing a real boom. According to Intelligent Development, prices are skyrocketing in Budapest, Balaton and in cities in western Hungary. The Hungarian real estate market attracts buyers with its relatively low prices per square meter, compared with other EU countries.
According to Western experts, the country is now the most dynamically developing state in the post-socialist space. In addition, Hungary is one of the largest tourist centers in Europe. And therefore it is not surprising that the country attracts foreign investors. Foreigners have the right to acquire any real estate and land, with the exception of land under agricultural land. Plus, the country has minimal property taxes.
One-time tax is paid within a year after the transaction. For apartments it ranges from 2 to 6% depending on the cost, while new apartments up to EUR 120 thousand are not taxed. For houses, land and other real estate – 10% of the property value.