I have a 1-bed unit in the Crossroads development which is about to handover/complete. I can't help but think that when PS researched this deal, their understanding of the local market in Bratislava was simply not yet up to scratch. For capital growth and rental, the only place to be in Bratislava is BAI and the central parts of Ruzinov in BAII. In contrast, the Crossroads is situated way out of the centre at the far end of BAII - near to the airport. This part is not popular with locals and there is next to no chance of renting to a professional person. As for capital growth, this part of the city is experiencing growth of circa 5% p.a., whereas in central parts growth is 10-15% p.a. (and as much as 20% in very central areas). I blame myself for not doing enough research on Bratislava before investing in this deal and for believing too much of the PS prospectus. I'm now thinking of selling and re-investing into somewhere more central in Bratislava. (If we go for new build, this will obviously have to bought via another property sourcing company, since PS have now gone a bit cold on Bratislava). The 'Battersea of Bratislava' was what PS called the Crossroads. Great marketing and fine use of alliteration. And it may come good over a period of many years. But in the final analysis, this is a development full of £40k units growing at 5% p.a., where you'll be lucky to cover 50% of mortgage costs. That ain't no Battersea!! Any Crossroads investors got a view on what is the best course of action? All the best, Dave.

Hi Dave I have 2 units in Nad Luckami and I'm hoping the situation isn't quite the same as Crossroads. I too went in a little blind at the time as I hadn't visited but was totally sold following my own research as well as PS's that Slovakia is a coming place. I still firmly believe that but as in any city there are good bits and bad bits. I happen to believe, now that I've been there that Nad Luckami is in quite a popular place. I took heart from the agent who I spent quite a bit of time with saying that she would like an apartment there. On my visits I came to the same conclusion as you that the old town (and I mean the proper old town - the pedestrianised bit) is the place to be and I've just got a refurb finishing there on a 2 bed unit which I'm quite optimistic about. I was lucky to find it as property there is hard to get. I think in general the city will be transformed over the next 5 years and providing the new government don't make a complete hash of the reforms (and signs are that they're not quite as stupid as they seemed) the economy will continue to boom. Slovakia should also soon join the Euro, well ahead of Poland and the Czech Rep so that's another positive. As to whether to sit tight and risk the low rental demand time will tell. Good luck Huw

Hi Hugh, As an aside, do you know how many properties foreign individuals can now own in Slovakia? Didn't it used to be 2, before you needed to set up a company for any additional purchases? Dave.

Hi Huw, what was the area like that Nad Luckami is being built and is it quite central? What was the building actually like? Also, as the first phase is now complete do you have any ideas how the rentals are going? I have also heard the rental mkt is extremely poor so I may just keep the property empty initially until (if) the rental mkt picks up in order that I dont have the initial outlays for furnishing etc. thanks Alex

Dave, it must be more than 2 as I have 3 (all bought with a partner). I think there may be a restriction as far as mortgages is concerned. That's something I'm about to try to address again. Huw

The area where Nad Luckami is build is about a 15 minute tram ride from the centre. It's next to the main road where the trams run. Communications to the centre are therefore good and it seems like a popular area for locals to live and commute. There is a real mixed bag of property with some really shabby properties, some OK and some new build. There's a lot of high rise. All in all I think it's a popular area for locals. The rental market I think will pick up as prices increase and locals choose not to buy (or can't). The backstop is always that there's a good local market to sell to if necessary. I don't know how the rentals are going - probably worth posting a separate question to see if you get any feedback. Huw

Hi Huw, Are you able to recommend any good contacts for sourcing and/or renovating properties in BAI. (without compromising PS too much) I'm planning on making a couple of visits in March/April. Cheers, Dave. ps - for what it's worth (which is obviously debatable!), there was a decent write up about Bratislava in the FT today.

Hi Dave Yes I am able to recommend someone good - I think the formal way to do this is to ask PS to pass my email details to you so we can correspond privately. I confirm I'm happy for them to do so. Good news on FT report. Any chance you could scan it and post it if not to big? Otherwise I'll buy a copy. One of the other big companies (Savills I think) made Slovakia one of their top tips for 2007. Huw

thanks Huw

Hi Huw, Are you able to say what price per m2 you paid for your apartment in the pedestrianised zone? Where is it (i.e. what street)? Plus, can you give an idea of the refurbishment costs? I'm trying to get an idea of what prices are like in the pedestrianised area at present.