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Simeon Mitropolitski is a Canadian analyst, of Bulgarian origin, and a former syndicated columnist with the Bulgarian News Agency (BTA). He is the author of several hundred articles dealing with hot political and economic topics, both national and international.

He was part of the first group of Bulgarian intellectuals and students that began the opposition movement that finally put an end to the communist regime in this country in 1989, and in 1996-1997 participated in international observation teams during the elections in several Balkan countries - Romania, Albania and Bulgaria.

In 2002 Simeon and his family moved from Bulgaria to Canada where they live now in Montreal, province of Quebec. Simeon is a Master of Political Science from McGill University and a B.A. of Political Science and History.

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The people from the West try to maximize their profits assuming that the others are doing the same. So when they see someone who is doing his job with great passion they think that he has found some particular way of reaching his economic or other interests. But sometimes a people, even the whole state, works against its own interests with extreme passion.

Look at Slovakia, which in 1993 separated from The Czech Republic and proclaimed its independence. Were the Slovaks were politically oppressed by the Czechs? Quite the contrary, the history of their federation since 1918 has been marked by periods when Slovaks have been monopolizing political power. Or maybe Slovaks were economically exploited by Czechs. Wrong again. The Republic of Slovakia has benefited from the union with the Czechs by receiving direct financial subsidies from the federal center. Unlike the Czech industry, which was known worldwide long before the World War II (for example the car maker Skoda was created in 1895), the Slovak industry began to develop only after the communists took the power in 1948.

As a result, when communism broke down, the Czechs were ready to adapt to the western market system. Slovaks who inherited most of the huge socialist plants, designed for producing weapons for the Warsaw Pact countries, couldn't move so quickly because of the shrinking market. Whenever governments face such a problem, the easiest way of riding the wave of public discontent is the nationalism. In cases like Yugoslavia, where the national emotionalism touches the most powerful republic of the federation (Serbia), the result is more likely to be a bloody war. In the case of Czechoslovakia, where national revival struck the smaller partner, the problem found a peaceful and very civilized solution - separation. When in 1992 the newly elected Slovak leader Vladimir Meciar demanded from Prague "Give us more money or we will go!", Czechs decided not to pay Slovak bills anymore.

When you create a state by putting the accent on the differences (between local people and foreigners, between the core nation and minorities), it is hard to make your credo the new fundamental European values such as tolerance and integration. So it isn't at all inexplicable why Slovaks were invited to join the European Union two years later than their Czech cousins (both Czech and Slovak are Slavs by origin). This invitation was made possible only after the Meciar party lost the parliament elections in 1998. But his former semi-authoritarian regime continues to be felt in the country of 5.3 million and especially in its economy, in general, and in the real estate market, in particular.

The economic life in the small republic in the past 7 years was supported by accumulating the huge (by the region standards) foreign debt - more than $13 billion USD. This however didn't bring the much expected push in the local demand and with it the massive influx of foreign investments. Slovakia looks economically healthy only in comparison with its eastern neighbors from the former Soviet Union or with the South-Eastern Europe. But it couldn't match the other Central European neighbors like Poland, Hungary and Czech Republic in attracting western investments or foreign business attention. The result is that the local unemployment goes above the 15-percent mark. The unemployed Slovak isn't motivated to find a new job because of the generous social programs.

Strongly subsidized by the government programs, the average salaries in Slovakia of some $400 USD match with the average income in Poland. This artificially supported living standard pushes the prices and rents of the real estate properties higher than their real market levels. For example, in the capital of Bratislava the prices for residential properties can easily attain $700-800/sq.meter (1 sq.meter=10 sq.feet). In the less expensive areas of the capital as well as in the second biggest town of Kosice the prices vary around $300-400/sq.meter. The luxurious homes and condominiums in the Bratislava downtown could pass the level of $1500/sq.meter.

The monthly rents in the most prestigious residential areas in Bratislava reach $15/sq.meter. On the other end of the market are the small towns where rents could pass below the level of $3/sq.meter (Foreigners who want to settle or live in Slovakia have to familiarize with the fact that in the country the properties prices and rents as usual are denominated in German Marks (DM) - $1 = 2.1 DM).

The prices and rents for commercial properties follow the trends set by the residential real estate. This can be explained partly by the fact that many newly established firms (like in the other East European countries) are renting or buying homes or condominiums which later turn into office spaces.

The prices for the building lots could go beyond the $100-level/sq.meter in the most prestigious locations in Bratislava. In the expensive areas of the capital a sq.meter costs around $40 and in the less expensive - $20. In residential areas of the smaller towns the lots cost $5-10/sq.meter.

Unlike permanent citizen Slovaks who can directly own and rent both land and buildings, foreigners can own real estate only by creating a joint venture company or company with limited liability in the Slovak Republic.

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See also the directory of companies providing real estate services in, and general real estate information of Slovakia.