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Buy a Property in Slovakia

Buy a Property in Slovakia

Since Slovakia became a member of the European Union in 2004, it became possible for everybody in this country to buy a real estate, no matter what his or her citizenship or place of residence is. This applies to all types of properties, be it a city condo, a country house or a mountain cottage. Our lawyers in Slovakia can assist you with the entire process of acquiring a property in this country.

We are also at the service of those interested in obtaining a Slovakia residence permit.

 Quick Facts  
 Specific legislation applicable (YES/NO)  Yes, the Slovak Civil Code

 Possibility to acquire Slovak properties by foreigners (YES/NO)

 Yes, foreign citizens can acquire properties in Slovakia

 Types of properties that can be purchased in Slovakia

– Land;

– houses;

– apartments, etc.

 Real estate due diligence required (YES/NO)  No, real estate due diligence is not mandatory, however, it is recommended
 Documents to draft for property acquisition

– Sale-purchase agreement;

– details of the buyer and seller.

 Financing options availability (YES/NO)

Yes, there are various financing options available when buying a property in Slovakia 

 Special property acquisition programs for foreign citizens (YES/NO)

 No, there are no special programs created for foreigners

 Timeframe to acquire a property in Slovakia (approx.)

It can take between one and two months to complete the purchase 

 Taxes to consider upon a property purchase

– VAT;

– legal fees;

– notary and registration fees;

– real estate agent fees (if any).

 Land Registry registration requirement (YES/NO)  Yes, the new owner must register the property with the Land Register
 Best cities to buy properties in Slovakia

 Bratislava, Nitra, Kosice, Zilina, etc.

 Residency requirements for foreign citizens buying real estate

 Foreign citizens are not required to secure residency in order to buy properties in Slovakia

 Possibility to appoint a Slovak representative during the transaction (YES/NO)

 YES, it is possible to conclude the transaction through a proxy

 Property tax rates in Slovakia

Real estate property tax which is calculated based on the size in sqm of the property 

 Support in buying a property in Slovakia (YES/NO)  Yes, we are at the service of those who want to buy real estate in Slovakia.

Procedure connected to buying a property in Slovakia

Buying a property in Slovakia is the same as in any other European Union country. The process associated with acquiring a real estate in this country is very straightforward, consisting of the following steps:

1. Buyer and seller agree on a price and on the transaction terms;

2. The buyer lodges the entire property cost, or a deposit formerly agreed upon with the seller, to a notarial custody or into a bank account where the funds are deposited until the real estate rights are transferred to the buyer;

3. An independent surveyor report is put together and sent to a lawyer in order to write the sale contract. All the documents are translated in the buyer’s language;

4. Both parties sign the contract. The seller’s signature has to be checked by the registry or a notary;

5. The buying cost is released to the seller after the buyer receives an extract from the cadaster, procedure which generally lasts up to four weeks.

It is important for the buyer not to acquit the funds prior to the property ownership transfer being ended. If you want to move to Slovakia by purchasing real estate, we are at your service.

What to consider when buying a property in Slovakia

No matter if you decide to buy land, an apartment or a house in Slovakia, there are several aspects to consider, and among them we mention the following:

  • the location, as it is important to have a place that near to the most important points of interest for you;
  • if the property is cleared from a legal point of view (you can use real estate due diligence solutions in this sense);
  • the price, which depends on various factors;
  • if you will use the services of a real estate agency or not.

Buying land or a house in Slovakia can be more difficult when you decide to conduct the search and acquisition procedures yourself, as it can be time-consuming and can also imply more verifications compared to an apartment.

On the other hand, if you want to buy an apartment in Bratislava, the capital of Slovakia, you can rely on our local law office. Here is also our infographic on this subject:

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Fees and other costs involving buying a property in Slovakia

Apart from the actual property costs, the expenses involving buying a real estate in Slovakia are relatively low. These fees and other costs include:

• The sales contract costs differ depending on the lawyers in Slovakia or real estate agency, however as an average they are of around EUR 500;

• There can be certain administrative fees charged by the cadastral office;

• When acquiring a property in Slovakia, there are certain local taxes involved;

• Other costs. We can offer more detailed information on what these other costs consist of.

Our local specialists can also helpp if you want to apply for citizenship in Slovakia.

Buying property as a foreign citizen in Slovakia

Since Slovakia has joined the European Union, any foreign citizen can buy property in this country, no matter whether it is a city condo, a countryside house or a mountain cottage.

The exception to this is represented by agricultural and forest land. Under the Law of Protection and Use of Mineral Wealth, foreign citizens are not allowed to buy or receive this type of property as a gift. 

It is, though, possible for foreign individuals to buy or receive as a present, agricultural and forest land since 2007, if the potential buyer undertook business on that land for at least three years and has obtained temporary residence in the country. Our Slovak lawyers can provide you with more details on this matter.

Also, under the property laws in Slovakialegal entities which have been registered in Slovakia are considered to be residents of the country, as well. Therefore, they can acquire agricultural or forest land without having any restrictions. 

How to buy land in Slovakia

If you have decided to acquire a land parcel in Slovakia, it is important that the following are restricted from ownership by foreigners:

  • forests;
  • agricultural land;
  • other types of parcels that are considered of interest to the Slovak State.

In other words, you can buy land in Slovakia as long as it does not enter any of these categories. If you want to use the respective plot for agricultural activities, you can do that as a means of self-support. For business purposes, you can concession larger land plots.

The procedure of buying a Slovak property, including land, is the same no matter the choice and you can rely on our law firm for assistance in having the procedure completed as soon as possible.

How to buy a house in Slovakia

Recent trends show an interest in acquiring houses all over Europe, including Slovakia. There are several types of properties you can find in this country, among which are also the following:

  • detached houses;
  • semi-detached houses or duplexes;
  • bungalows;
  • brownstones with or without terraces;
  • cottages.

The decision depends on the number of family members, needs and, of course, architectural design. The procedure related to the purchase of a house in Slovakia is quite simple and can be completed in a matter of days.

Slovakia is a wonderful country with spectacular views and many of them can be found in cities, which is why it is not uncommon for young people to choose and buy apartments in Bratislava.

Buying an apartment in Bratislava

Most flats in Slovakia, and in Bratislava are built by private contractors or by city councils, which is why if you decide to acquire one, it is worth considering this aspect. Size is another important thing to take into account when choosing an apartment. Some of the most common architectures imply:

  • one and two-bedroom apartments;
  • three-bedroom apartments are also available for sale in Bratislava;
  • penthouses can also be found in modern buildings in Slovakia.

No matter the type of apartment you want to buy in Bratislava, you can rely on our Slovak lawyers. Here is also video on this topic:

Property purchase costs in Slovakia

If you want to buy a property in Slovakia, the cost is probably one of the most important things you will consider. From this point of view, here is some information:

  • you need to add the 20% VAT to the price of the property (most real estate comes with the total price, therefore, VAT included);
  • the legal fees represent about 1% of the transaction cost;
  • the notary and registration fees range from 0.01% and 0.50% of the property price.

If you decide to use the services of a real estate agency, you can find it on the site of the National Association of Real Estate Agencies. An agent’s fee can range from 3% to 6% of the property price.

If you wish to acquire a real estate in Slovakia, we can help. Please contact our law firm in Slovakia for assistance on this matter. 

We can also offer advice if you are interested in appplying for residency in Slovakia.