Released on: September 14, 2007, 4:37 pm

Press Release Author: Propertastic!

Industry: Real Estate

Press Release Summary: Propertastic! today announced that it believes that property
prices in Slovakia's capital, Bratislava, are likely to increase rapidly as a result
of the country's joining the borderless travel Schengen zone on 1 January 2008.

Press Release Body: Propertastic! (www.propertastic.com), a new website which claims
to be the leading independent source of information for buyers of property in
Central & Eastern Europe plus the developing Mediterranean area, today announced
that Bratislava, the capital of Slovakia, is likely to see rapid growth in property
prices following its entry into the Schengen zone on 1 January, 2008.

The Schengen area constitutes a border-free travel zone within the EU among the old
member states, with the exception of Great Britain and Ireland. Non-EU countries,
such as Norway, Iceland and Switzerland are also included in the Schengen zone.

In August it was announced that the first four Eastern European nations will be
joining the Schengen zone from the start of next year - Lithuania, Poland, the Czech
Republic and Slovakia - meaning that it will be no longer necessary to wait at the
border of each country in order to present documents and undergo customs
inspections.

Although this is likely to have little effect upon property prices upon property
prices across much of the four new entry countries, Propertastic! believes that it
should have a highly beneficial effect upon the prices in Bratislava due to the
city's close proximity to the Austrian capital of Vienna.

Although the city centres of Bratislava and Vienna are only 35 miles (56km) apart,
there is a huge difference in property prices between the two capitals, with prime
city centre property in Vienna currently fetching EUR3500 per square metre compared
with only EUR1750 in Bratislava.

Propertastic! Chief, Nick Pendrell, comments, "I just can't believe that the huge
disparity between real estate prices in the two capitals is going to last forever.
Sooner or later, prices in Bratislava are going to start catching up with Vienna
(which looks far from overpriced itself and is showing steady growth). Once it gets
easier to commute from Bratislava to Vienna, more Slovaks are going to start working
there earning a much higher salary than they would be able to do so in Bratislava,
and they will start using that money to start buying more desirable apartments back
home."

"Even without entering the Schengen zone, Bratislava's prospects were looking great
already, with Slovakia's low taxes attracting a lot of inward investment into the
country such as Kia, leading the country to be dubbed 'the Tatran Tiger'. Add to
this the fact that prices are still among the cheapest in Europe while rental yields
are among the highest and that Slovakia is currently on schedule to adopt the Euro
in 2009 and it's hard to find a single negative about the city."

After lagging behind other fast-moving property markets in eastern European capitals
such as Riga, Tallinn and Warsaw, which all saw growth of up to 60% in 2006,
Bratislava is now starting to catch up fast, with The Slovak Spectator reporting
that prices increased by 20% in the first half of 2007.

"Currently it appears as if few people are talking about the opportunities presented
by Slovakia's entry into the Schengen zone, but this situation will not last for
long," Pendrell continued. "Luxury properties on the west side of the Danube which
have the easiest access to Vienna are likely to be the main beneficiaries of the new
open-border area."

About Propertastic! (www.propertastic.com)

Propertastic! is a new online resource that was established as a 'one-stop resource'
for anyone considering purchasing residential property in Central & Eastern Europe
and the developing Mediterranean region. Presented in a lively and easy-to-read
style, the website offers totally unbiased and independent research on the real
estate markets in Bulgaria, Croatia, Czech Republic, Egypt, Estonia, Hungary,
Latvia, Lithuania, Montenegro, Morocco, Poland, Romania, Serbia, Slovakia, Slovenia
and Turkey.

Web Site: http://www.propertastic.com

Contact Details: Propertastic!
Farnborough House, Alveston, Stratford-upon-Avon, Warwickshire, CV37 7QZ, United
Kingdom
Tel: +371-2881-8007
Email: nick@propertastic.com