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Property purchase

Foreign ownership

Foreigners are free to purchase property in Slovakia with no restrictions. Purchase fees and taxes are relatively inexpensive because real estate transfer tax – the equivalent of stamp duty in the UK – was abolished in 2005. The only restriction Slovakia has imposed is on agricultural and forestry land.

Buying steps: deposit

Once the property has been chosen and the seller has accepted the buyer’s offer, a deposit of 10% of the purchase price must be paid. This secures the property and commences the legal process.

Buying steps: pre-purchase agreement

Once the deposit is paid, a pre-purchase agreement is signed by both parties. This ensures the parties understand their rights and obligations. If the buyer changes his mind after paying the deposit, he will be responsible to pay for any expenses incurred so far by the agent. This is taken from the deposit already paid and the rest is returned to the buyer. If the seller changes his mind, the seller is responsible for the expenses incurred and the buyer will be refunded his full deposit.

Buying steps: contract

Once a surveyor has completed all the necessary checks on the property he will provide the solicitor with the report and the contract will be drawn up. It is important to have a full translation of both the report and the contract provided to you by the solicitor. The contract is then signed by both parties.

Buying steps: registry

The buyer will have to wait for the land registry (‘kataster’) to transfer the ownership, which normally takes around four weeks. The buyer is then full owner of the property.

Costs and taxes

Exact costs of a property purchase in Slovakia will vary somewhat, but the following is a guide:

• Legal fees (and notary fees) will be approximately €440
• Land registration fees will also be approximately €440
• Registration with tax authorities, plus local annual tax returns will be approximately €140
• Nominal annual property tax is approximately €44 per apartment, per annum

A solicitor will undertake the above on your behalf for a set fee.

Related items

Documents and Reports

	Slovakia property investment report (425Kb)
Documents and Reports

Other related pages

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