I bought a resale apartment in BA I (old town) in March 2006 for 100,000 Euros. Spent about 10,000 Euros doing it up, and I'd conservatively estimate it as worth 190,000 Euros now.
I took a mortgage with a Slovak Bank (HVB, now UNicredit), and was hoping to get 30% LTV but ended up nearer 37%.
Nevertheless, I found the process smooth, and I love the city.
Letting was a problem, and it was not until December 2006 that I finally got a tenant, having put it on the market in August 2006. Four months downtime was not ideal, but I had factored this into my plan.
When I did let the apartment, it was to a company on a 12 month term, and they renewed in December last year, so I have a tenant until at least December this year.
In my opinion Bratislava is a fantastic investment location. Quite apart from the economic data and the appealing tax regime, low inflation, massive FDI, available workforce, etc., if you actually visit the place, you will find people who are keen to get on but do not mind working to do it.
It was such a refreshing difference from my experiences in Riga (Latvia), Sofia (Bulgaria) and, to a lesser extent, Tallinn (Estonia).
Bratislava has been talked about as a new Dublin for some years, and the early signs are good. With Ballymore and other major developers looking to create ambitious mixed use developments in the next few years, the future really does look very rosy indeed.
I'm going out to B'lava again at end March, with a view to scouting another opportunity. I'd seriously recommend this place to anyone: go yourself for a few days, walk around, talk to people, and see if you're not sold on it!
Matt
ES