As of the 1st of May, 2004 there were very few restrictions on private foreign individuals purchasing property in Slovakia, except for on agricultural or forest lands. This opening of the market was adopted as a part of accession to the EU and economic reforms and has meant the market is simpler than it has ever been for the potential off plan investor. As is the norm, a trusted local lawyer should be employed to help with the buying process.

Once a property has been decided upon, a contract is drawn up and signed by the buyer, the seller and a notary and a deposit of 20 to 30 percent is paid. The documentation is then sent to the local Land Registry for the property to be officially signed over in the land book – once this process is complete, the remainder of the fee can be paid and other payments to agencies, lawyers and notaries can be settled.

Fees vary from place to place, but expect to pay from around one to three percent of the total cost to hired help. It should also be noted that Slovak banks are generally eager to give foreign buyers mortgages, with lending usually comprising of 65 percent of the purchase cost, with interest rates around the six percent mark. There is no purchase tax on properties in the country.

This buying process is far simpler than it has ever been in Slovakia, and the amount of bureaucracy involved has reduced significantly when compared to just a few years ago, meaning the buyer has a much more pleasant experience.