Trnava Property Market Overview
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Like many large towns in Central and Eastern Europe Trnava has made to attract large scale foreign investment. In Trnavas case a large Peugeot-Citroen car factory. This has created a large number of jobs in the town and is expected to create more as ancillary services spring up around the factory.
The creation of these jobs has not had a direct impact on the property market, perhaps because one does not need to live in the town to work at the factory (especially given its proximity to Bratislava).
Price growth, so far, has not been that impressive, struggling to reach 10% per annum.
Other cities such as Kosice and Zilina have potential but are more uncertain prospects. We recommend foreign investors invest mainly in the capital Bratislava.
The problems in the worldwide automotive industry are going to hit second tier cities hard in 2009.
