This Business Insider article is trying to watch for a coming by following these terms on Google Trends (click through and you can play with the terms yourself):
the depression, guns, deflation, fractional reserve, fiat currency
How about this set? debt, gold, prices, eurozone, eurusd
See the spikes in our times? Would any of those be a good indicator that the push will come to shove?
And what would you propose as a good Google Trends keyword set to know when the public is getting seriously panicked?
Saturday, 20 August 2011
Monday, 15 August 2011
A Liptov Weekend: Hotel-Hopping on a Whim
Last weekend found us in Demanova Dolina, right under the illustrious Chopok peak in Nizke Tatry (Low Tatra) mountains. We drove there late on Friday afternoon more or less on impulse.
I was secretly hoping to score a room at the Hotel Ostredok - it came recommended from a friend whose agency organised some of the glamourous guests and I have complete faith in her recommendations. But when I called Ostredok only had a room for Friday.
We were pleasantly surprised to find that other nice hotel we stopped by were full for at least one of the nights of this mid-August weekend. Tri Studnicky, a four-star from the Tatry Mountain Resorts (Slovak financial group J&T) portfolio was only available Saturday (and Chopok Wellness Hotel 4* as well as the appealing Penzion Drak were full).
Hotel Ostredok
Slovak three stars guarantee nothing but I was expecting much from Ostredok. We ended up liking most everything there, finding it adequate to the price charged, with the exception of the restaurant and crappy pillow.
Room 308 on the third floor (no lift) was really, really large and would have actually easily fit four beds (it turned out there was a third fold out bed already in the room posing as an ottoman). We loved the yellow (laminate wall panelling and oversized number on the room door inside) and grey (carpet) colour scheme, which my resident interior design expert pointed out was a rare departure from the usual Slovak brown and brown ambience.
The bed was OK but the pillow and duvet where from such slippery materials that they virtually undressed themselves on contact. The pillow was understuffed with what felt like pure plastic and I found it truly uncomfortable to sleep on. The hotel simply needs new duvets and pillows (the covers were of decent quality but kept sliding off as they did not close in any way).
The hotel's only restaurant is La Collina and it serves Italian food. It let us down with incompetent staff. We were served by three really friendly and polite young waiters/bartenders but they simply did not know their job. They started us off with a great impression, promising the kitchen could do and has done in the past pasta without gluten. In all fairness, this one promise they delivered on.
The soup of the day was a very tasty pumpkin but a really small portion of insubstantial thin soup was EUR 3. And then the incompetence started. Our main course arrived and we never received any further attention from the waiters. They missed out on the chance to sell us wine (!), more beer, desert, coffee. They deprived their employer of maybe EUR 25 in extra revenue and themselves of perhaps EUR 4 in tips. When after not being able to flag down a waiter in over 40 minutes I went to pay at the bar, I was explained that I cannot put a tip on my credit card because "it goes to the company in Bratislava."
The food itself was not bad. The wine menu looked OK (though for some odd reason the years were given for foreign wines but not given for Slovak wines), the views were great. If there was a head waiter who knew the basics of serving guests at a mid-market restaurant we would have had a great time.
On other issues, if I were to nit pick I would mention the shoddy plasterwork in the bathroom, which two years after refurbishing looks like it has been there for 20 years. In the morning the water pressure in our third floor room was less than adequate as well (though my wife had a nice warm shower in the evening).
But on the plus side, all the staff were friendly, breakfast was decent, architecture was a great example that a good designer can make a place look nice and feel pleasant on a budget. We enjoyed the hotel and anything (other than the cracked plaster between the tiles) can be fixed with a little bit of training. After all Ostredok gets really hot in its main season, which is winter, when you can better appreciate being literally tens of metres from the slope and ski lift in one of Slovakia's prime skiing resorts.
Tri Studnicky
On Saturday we moved to Tri Studnicky, the 70% more expensive four-star hotel. Again, a Slovak four star rating actually does not guarantee a good hotel and there are plenty of unpleasant four star hotels around the country you would regret staying at.
Not so the Tri Studnicky. We loved the hotel and found the high price justified by their faultless service, genuinely tasteful designer interiors, great breakfast and neat if small spa.
The lobby was beautifully furnished and decorated, a rare occurrence in Slovak hotel design. Out Standard Room was small but very functional and it never felt cramped. We had a view of the stream, which was really charming. I appreciated the info packet, which is still all too rare in many hotels. There were typos to fix but at least the packet was there.
We took advantage of our free two-hour entry in the small but tasteful Spa. It is only open from 3 pm to 8 pm but was not full. We used the two jacuzzi baths (indoor and outdoor) and there were also two saunas. The fitness room looked like a place I would want to use if we were staying any longer.
We ate dinner at the Tri Studnicky restaurant (which claims to be 'excellent' on a banner by the hotel above the main road) and I must simply say it was excellent. A competent, experienced server (whose only fault was he did not come to say goodbye before he left to be replaced by another friendly and competent colleague).
If the hotel manager (who has been awarded a top national award in 2011) were to ask me about room for improvement I would maybe send her to Wellness Patince to see how every staff member there automatically greets any passing guest. On the same note the spa lady could have given us a quick tour on arrival (would not have had to leave her chair for that given the size of the spa). But that's really about the only minor gripe I could come up with if pressed. The up-market looking clientele seemed appreciative of the hotel's qualities.
Where to stay in Liptov then? You will do well with Penzion Drak, Hotel Ostredok or Tri Studnicky and there were many other place we passed by that look passable to promising.
It is wonderful to see such great tourism infrastructure in place in Liptov. This beautiful piece of Slovakia is well worth visiting as a family destination, sports or nature-lover destination, however far you are coming from.
I was secretly hoping to score a room at the Hotel Ostredok - it came recommended from a friend whose agency organised some of the glamourous guests and I have complete faith in her recommendations. But when I called Ostredok only had a room for Friday.
We were pleasantly surprised to find that other nice hotel we stopped by were full for at least one of the nights of this mid-August weekend. Tri Studnicky, a four-star from the Tatry Mountain Resorts (Slovak financial group J&T) portfolio was only available Saturday (and Chopok Wellness Hotel 4* as well as the appealing Penzion Drak were full).
Hotel Ostredok
Slovak three stars guarantee nothing but I was expecting much from Ostredok. We ended up liking most everything there, finding it adequate to the price charged, with the exception of the restaurant and crappy pillow.
Room 308 on the third floor (no lift) was really, really large and would have actually easily fit four beds (it turned out there was a third fold out bed already in the room posing as an ottoman). We loved the yellow (laminate wall panelling and oversized number on the room door inside) and grey (carpet) colour scheme, which my resident interior design expert pointed out was a rare departure from the usual Slovak brown and brown ambience.
The bed was OK but the pillow and duvet where from such slippery materials that they virtually undressed themselves on contact. The pillow was understuffed with what felt like pure plastic and I found it truly uncomfortable to sleep on. The hotel simply needs new duvets and pillows (the covers were of decent quality but kept sliding off as they did not close in any way).
The hotel's only restaurant is La Collina and it serves Italian food. It let us down with incompetent staff. We were served by three really friendly and polite young waiters/bartenders but they simply did not know their job. They started us off with a great impression, promising the kitchen could do and has done in the past pasta without gluten. In all fairness, this one promise they delivered on.
The soup of the day was a very tasty pumpkin but a really small portion of insubstantial thin soup was EUR 3. And then the incompetence started. Our main course arrived and we never received any further attention from the waiters. They missed out on the chance to sell us wine (!), more beer, desert, coffee. They deprived their employer of maybe EUR 25 in extra revenue and themselves of perhaps EUR 4 in tips. When after not being able to flag down a waiter in over 40 minutes I went to pay at the bar, I was explained that I cannot put a tip on my credit card because "it goes to the company in Bratislava."
The food itself was not bad. The wine menu looked OK (though for some odd reason the years were given for foreign wines but not given for Slovak wines), the views were great. If there was a head waiter who knew the basics of serving guests at a mid-market restaurant we would have had a great time.
On other issues, if I were to nit pick I would mention the shoddy plasterwork in the bathroom, which two years after refurbishing looks like it has been there for 20 years. In the morning the water pressure in our third floor room was less than adequate as well (though my wife had a nice warm shower in the evening).
But on the plus side, all the staff were friendly, breakfast was decent, architecture was a great example that a good designer can make a place look nice and feel pleasant on a budget. We enjoyed the hotel and anything (other than the cracked plaster between the tiles) can be fixed with a little bit of training. After all Ostredok gets really hot in its main season, which is winter, when you can better appreciate being literally tens of metres from the slope and ski lift in one of Slovakia's prime skiing resorts.
Tri Studnicky
On Saturday we moved to Tri Studnicky, the 70% more expensive four-star hotel. Again, a Slovak four star rating actually does not guarantee a good hotel and there are plenty of unpleasant four star hotels around the country you would regret staying at.
Not so the Tri Studnicky. We loved the hotel and found the high price justified by their faultless service, genuinely tasteful designer interiors, great breakfast and neat if small spa.
The lobby was beautifully furnished and decorated, a rare occurrence in Slovak hotel design. Out Standard Room was small but very functional and it never felt cramped. We had a view of the stream, which was really charming. I appreciated the info packet, which is still all too rare in many hotels. There were typos to fix but at least the packet was there.
We took advantage of our free two-hour entry in the small but tasteful Spa. It is only open from 3 pm to 8 pm but was not full. We used the two jacuzzi baths (indoor and outdoor) and there were also two saunas. The fitness room looked like a place I would want to use if we were staying any longer.
We ate dinner at the Tri Studnicky restaurant (which claims to be 'excellent' on a banner by the hotel above the main road) and I must simply say it was excellent. A competent, experienced server (whose only fault was he did not come to say goodbye before he left to be replaced by another friendly and competent colleague).
If the hotel manager (who has been awarded a top national award in 2011) were to ask me about room for improvement I would maybe send her to Wellness Patince to see how every staff member there automatically greets any passing guest. On the same note the spa lady could have given us a quick tour on arrival (would not have had to leave her chair for that given the size of the spa). But that's really about the only minor gripe I could come up with if pressed. The up-market looking clientele seemed appreciative of the hotel's qualities.
Where to stay in Liptov then? You will do well with Penzion Drak, Hotel Ostredok or Tri Studnicky and there were many other place we passed by that look passable to promising.
It is wonderful to see such great tourism infrastructure in place in Liptov. This beautiful piece of Slovakia is well worth visiting as a family destination, sports or nature-lover destination, however far you are coming from.
Saturday, 18 June 2011
Great Asian Noodle Bar in Vienna - Sharing Fruits of My Research...
You know I take eating out seriously so when my son went on a trip and we had a chance to eat out in Vienna, I spent a good half hour looking for the right Asian restaurant to visit. We were in no mood for posh, we wanted honest Asian fare at a reasonable price, without a need to dress up.
We hit the road from Bratislava with a print out with four options and used the 45 minutes drive to make a decision.
The options were:
Saigon Restaurant at Getreide Markt
+43-1-5856395
Yellow at Mariahilferstr. 127
Chang Asian Noodles at Waaggasse 1
We landed at number three on my list, Chang Asian Noodles. This turned out to be a great choice - a well designed place on the right side of the Vienna city centre (coming from Bratislava on the highway). We had unpretentious, oustanding noodles, which put any Bratislava noodle bar (incl. Buddha Brothers) to shame, paying less than 30 euros for two noodle dished, a chicken satay starter, glass of wine and two mineral waters.
I do this kind of research (not only on food but other venues) before travelling anywhere and wil lmake a point of sharing my lists on the blog.
We hit the road from Bratislava with a print out with four options and used the 45 minutes drive to make a decision.
The options were:
Saigon Restaurant at Getreide Markt
+43-1-5856395
Yellow at Mariahilferstr. 127
Chang Asian Noodles at Waaggasse 1
We landed at number three on my list, Chang Asian Noodles. This turned out to be a great choice - a well designed place on the right side of the Vienna city centre (coming from Bratislava on the highway). We had unpretentious, oustanding noodles, which put any Bratislava noodle bar (incl. Buddha Brothers) to shame, paying less than 30 euros for two noodle dished, a chicken satay starter, glass of wine and two mineral waters.
I do this kind of research (not only on food but other venues) before travelling anywhere and wil lmake a point of sharing my lists on the blog.
Friday, 7 January 2011
Austrian Tabloid Fined €20k for Lifting Girl's Facebook Photo to Illustrate her Alleged Prostitute Namesake's Murder Story
Wow, writing a short headline to this one seemed tough.
Interesting tale of offline/online media interaction - Austrian tabloid paper fined EUR 20 000 by Austrian court after using a photo of the wrong "Lucia Rehakova" from Facebook to illustrate story on an eponymous murdered prostitute.
Rehakova, a Slovak student of teaching, said she had feared she would not be able to get a teaching job after Slovak newspapers widely reprinted her photo. In 1995 there were 1 183 women named Reháková in Slovakia in 2005, according to the state language institute Surnames Database . With Lucia being a very popular Slovak girl's name we would expect there to be oh maybe like 20 of them. Four of them are in fact on Facebook (in Google search results).
Is it sad or funny that you can still google a Lucia Rehakova photo on the Kurier.at website without any explanation or apology and without knowing whether it is the wrong or right one...
The real Lucia should consider suing Slovak papers too for violating her rights - picking up the photo from Austrian paper is not sufficient sourcing.
(found via Metro.co.uk story)
Interesting tale of offline/online media interaction - Austrian tabloid paper fined EUR 20 000 by Austrian court after using a photo of the wrong "Lucia Rehakova" from Facebook to illustrate story on an eponymous murdered prostitute.
Rehakova, a Slovak student of teaching, said she had feared she would not be able to get a teaching job after Slovak newspapers widely reprinted her photo. In 1995 there were 1 183 women named Reháková in Slovakia in 2005, according to the state language institute Surnames Database . With Lucia being a very popular Slovak girl's name we would expect there to be oh maybe like 20 of them. Four of them are in fact on Facebook (in Google search results).
Is it sad or funny that you can still google a Lucia Rehakova photo on the Kurier.at website without any explanation or apology and without knowing whether it is the wrong or right one...
The real Lucia should consider suing Slovak papers too for violating her rights - picking up the photo from Austrian paper is not sufficient sourcing.
(found via Metro.co.uk story)
Thursday, 21 October 2010
Blue Bay Hotel in Netanya Blues
Three nights at the Blue Bay Hotel in Netanya, attending a friend's beach wedding. We chose the hotel at the friend's recommendation for convenience (a few minutes drive from where the weddding took place) rather than any impressive looking features or positive reviews.
The hotel actually has bearable architectural qualities, decorated with taste, or at least without any 'distaste'. The room we stayed in probably used to look good, like 6 years ago but it was well worn rather than in a state of disrepair. Unlike in many newer hotels, the shower worked, water fixtures worked, most lights worked.
We were annoyed with the narrow entrance space and overall the room was not well suited to having the extra bed added. Across the hall I got a peak of a room that seemed very different from ours - a hard-wood floor rather than our wall-to-wall hotel style carpet from a bygone era and more space - I would assume that's the 'superior' room.
We arrived in the dark and I was sceptical about sea view as much as to complain to the receptionist we were paying for it. He assured me all the rooms had seaview and his words turned out to be very accurate when we woke up next morning with perhaps the best view of the sea I've seen in a hotel.
On arrival I had to return to reception to mention the extra bed we had requested (and were paying a not so friendly extra amount for). It arrived carried by a man who pretended not to really speak English but he understood the request to bring an extra towel for the third guest.
Breakfast is a good Kosher breakfast. Depending on what those three words mean to you, you either know what I am talking about or it would simply take too long to explain. For connoisseurs, here is an overview: a sizable buffet with three or four warm dishes, cheeses, "salatim", some sweets, bread and three types of rolls. Coffee not to die for (or Israeli instant). Oh, and since the breakfast is milchig, no sausages or salami (but there is some fish). And the Kosher kids run amock bumping into your chair not only without apology but without as much as acknowledging your existence.
Kosher kids running amock were a recurring topic poolside but the cold water was a bigger problem.
The lobby bar service was far from impressive in terms of selection, attentiveness of staff, professionalism. But again, the decent Israeli service standards prevailed: with every order (even the misunderstood one) the linguistically challenged man brought us a bowl of pretzels and peanuts and dusted off our table. He even tried to prevent me from leaving him a tip at one point.
I would not call the staff friendly and we never had the impression anyone enjoyed serving us. A good word to describe most staff was smug (the reception staff), oblivious (wait staff), bored (security guard outside). The only friendly gestures came from the (I assume Ethiopian Israeli) cleaning staff.
But, like much of Israeli hospitality, the hotel turned out OK. Not great, not to rave about, with lots of annoying little details but OK to spend a few nights (although I would hesitate recommending it for a long vacation). The Scandinavian and Russian holy land bible trip groups seemed happy enough, as did the guests at multiple weddings and bar mitzvahs taking place.
The hotel actually has bearable architectural qualities, decorated with taste, or at least without any 'distaste'. The room we stayed in probably used to look good, like 6 years ago but it was well worn rather than in a state of disrepair. Unlike in many newer hotels, the shower worked, water fixtures worked, most lights worked.
We were annoyed with the narrow entrance space and overall the room was not well suited to having the extra bed added. Across the hall I got a peak of a room that seemed very different from ours - a hard-wood floor rather than our wall-to-wall hotel style carpet from a bygone era and more space - I would assume that's the 'superior' room.
We arrived in the dark and I was sceptical about sea view as much as to complain to the receptionist we were paying for it. He assured me all the rooms had seaview and his words turned out to be very accurate when we woke up next morning with perhaps the best view of the sea I've seen in a hotel.
On arrival I had to return to reception to mention the extra bed we had requested (and were paying a not so friendly extra amount for). It arrived carried by a man who pretended not to really speak English but he understood the request to bring an extra towel for the third guest.
Breakfast is a good Kosher breakfast. Depending on what those three words mean to you, you either know what I am talking about or it would simply take too long to explain. For connoisseurs, here is an overview: a sizable buffet with three or four warm dishes, cheeses, "salatim", some sweets, bread and three types of rolls. Coffee not to die for (or Israeli instant). Oh, and since the breakfast is milchig, no sausages or salami (but there is some fish). And the Kosher kids run amock bumping into your chair not only without apology but without as much as acknowledging your existence.
Kosher kids running amock were a recurring topic poolside but the cold water was a bigger problem.
The lobby bar service was far from impressive in terms of selection, attentiveness of staff, professionalism. But again, the decent Israeli service standards prevailed: with every order (even the misunderstood one) the linguistically challenged man brought us a bowl of pretzels and peanuts and dusted off our table. He even tried to prevent me from leaving him a tip at one point.
I would not call the staff friendly and we never had the impression anyone enjoyed serving us. A good word to describe most staff was smug (the reception staff), oblivious (wait staff), bored (security guard outside). The only friendly gestures came from the (I assume Ethiopian Israeli) cleaning staff.
But, like much of Israeli hospitality, the hotel turned out OK. Not great, not to rave about, with lots of annoying little details but OK to spend a few nights (although I would hesitate recommending it for a long vacation). The Scandinavian and Russian holy land bible trip groups seemed happy enough, as did the guests at multiple weddings and bar mitzvahs taking place.
Labels:
blue bay hotel netanya,
hotels,
israel
Saturday, 28 August 2010
Moods Boutique Hotel Prague - a Quick Stay and Review
![]() |
| Hästens Bed at the Hotel Moods in Prague |
As this was a Sunday night weekend rates applied and there were literally hundreds of hotels to choose from on Booking.com. I took advantage of their new feature that presents guest ratings in words and restricted my search to hotels with ratings over 9 out of 10, which Booking.com labels Superb (why settle for Fabulous if you can have Superb, right?).
We ended up with the Moods Boutique Hotel, a new place in Klimentska near Florence, reportedly a 'Superb' hotel, not least because it was minutes from where my meetings took place. Booking.com offered Moods for EUR 99 for the Standard Room including breakfast.
I phoned the hotel directly (though its http://www.hotelmoods.com/ website was pretty hard to find in Google). The friendly receptionist said they had rooms free, I could just come without reserving and may even be able to get a few euros of the published 'Best Available Rate'.
Did we enjoy the night at Moods? Yes. Did I think it was worth the price we paid? Sure. Is this a Superb hotel? Well let's say I would rate it pretty good.
Getting there
Klimentska is reasonably central but Moods sits at a weird spot. The street is one way from that spot, in both directions. This means that you cannot get to Moods via Klimentska itself but have to reach it the only way through a side street (which appears nameless on Google maps), coming to it from Lannova or Barvirska.
We did not figure this out until we walked the area a bit on foot so even though we saw the hotel, getting to it by car took us another half hour of circling through one way streets of Prague 1.
Prague 1 also means there is hardly any street parking - there were numerous empty spots but all marked as resident spots with blue lines. The hotel uses parking facilities in the next door Hotel Klement but these were full and we were either offered parking at another hotel a few minutes walk away (Bila Labut) or told to park in Petrske Namesti square, where there is public parking (metered on weekdays from 8 am to 6 pm with two hour maximum).
Checking in
As advised via telephone we showed up annonced. The gentleman at reception looked surprised but was polite enough. I explained that I had phoned about a room. He asked what I had been promised. Truthfully, I replied I had been told there were rooms available and we could get a discount on the published rate.
After a while of searching (which allowed me to note the Vitra chair I was sitting on) and asking his colleague from the bar to check on the state of a room (305) he said he would give us a room slightly larger than most at a rate slightly lower than EUR 99 - at 90. This seemed a great deal and we accepted gratefully, to be escorted upstairs.
The room
Let me get the good stuff out of the way. Moods makes a lot of its Hastens beds. The bed was good, but there was a crack between the two mattresses. There are free coffee and tea makinjg facilities.
The floor was hard wood (walnut?) and nice enough. The furniture was very simple, white polished surface. There was an LCD TV, minibar. The lamp is a nice Artemide, as advertised on the hotel's website (along with Hastens for beds, Apple and Bose for stuff in rooms beyond my price level).
A reviewer on booking.com talked of forward looking design but in that respect I would beg to differ. Buying an expensive bed and floor is nice and good but not really a design thing. The rest of the design at the Moods was either missing or questionable.
![]() |
| Artemide Lamp and Wall Decoration at Prague Hotel Moods |
A signature feature was a colour-changing LED lamp behind the head of the bed, which had a set of (mechanically poorly functioning) controls for colour and intensity. I guess to match the colour to your MOOD, get it, right?
Where the room took turn for the cheap was the bathroom. No design, cheapish looking tiling and most importantly Roco fixtures (armatury). I have a feeling not all readers will identify with the paragaph but: in a four-star design/boutique hotel you need a Hansgrohe if you can't afford Axor, schematically speaking.
Roco fixtures are certainly not offensive looking but around the shower head at the Moods Boutique Hotel the metal hose covering was already 'unbound' detached from the handle part, uncovering a piece of the plastic hose within.
There was a bidet but the bath itself was very narrow and thus uncomfortable. This to me was a questionable choice, too. The White Company toiletries were not enough to fix the mixed impression.
Overall this was not design that worked for me and my resident design dot expert said it was because there was not that much design.
![]() |
| View from Room 305 at the Moods Boutique Hotel in Prague |
The common spaces
There are some nice details in the lobby and restaurant although as a whole these spaces do not amaze. To be brief, I wouldn't go there for the design.
Breakfast
No reservations about breakfest. A small but kind buffet, with a cosy feel. Sausages, eggs, cereal, fruit, cold cuts, veggies, salads, roasted veggies, cake, croissant, good bread and three carafes of actual fruit juice. A Douwe Egberts coffe automat (good choice in its class).
I am also sold on the breakfast being until 11:30 (with continental breakfast being served per order any time during the day).
Design-wise lots of effort (including Vitra Eiffel chairs) but a result with a questionable feel.
Other remarks
As always the experience turns on the staff. Here the staff were very good (although by no means perfect). Most interactions were pleasant although I did not always quite feel understood (this may simply be on account of me speaking Slovak, right?).
The staff were very kind in lettin gus keep our luggage at reception all day and when I asked for a room to change in they offered the underground conference room all to myseld.
Verdict
I would go back to the Moods because the bed was good, breakfast was good, staff tried hard. But with the feeling that for the same rate or slightly higher I may be able to do better at some of the many Prague hotel options.
Then again, there is that other class of rooms at the Moods, the Deluxes, Maisonette and Apple. Maybe if I splurged on those I would walk away with a different impression?
Can you make money with planned Slovak tax changes?
One of the proposed changes in Slovak income tax law would eliminate an exemption from capital gains on apartment sale. Currently, if you buy an apartment in Slovakia and register the address as permanent residence for two years or own it for five years, you do not have to pay tax on the income from selling it at a profit.
Slovak Finance Minister Ivan Miklos proposed a series of tweaks in tax laws to generate extra revenue as the deficit left over by the previous cabinet of populist Robert Fico spiralled out of control.
The proposal would make people pay a capital gainst tax (at the current 19% income tax rate) on gains from selling an apartment regardless of when it was acquired and how long the owner lived there. It wouls apply to all properties acquired after January 1, 20111.
If this specific proposal passes it should mean that anyone who has been thinking about buying an apartment in this down market for speculative purposes should do so before the end of December 2010, boosting demand this year compared to the start of next.
I am not sure how you could estimate the magnitude of this effect and whether it could be significant enough to trade on given transaction costs. But nonetheless anyone considering selling an apartment in the near future should do so in December rather than January (assuming there isn't a strong upward trend in place of course that would overpower the tax change effect).
Slovak Finance Minister Ivan Miklos proposed a series of tweaks in tax laws to generate extra revenue as the deficit left over by the previous cabinet of populist Robert Fico spiralled out of control.
The proposal would make people pay a capital gainst tax (at the current 19% income tax rate) on gains from selling an apartment regardless of when it was acquired and how long the owner lived there. It wouls apply to all properties acquired after January 1, 20111.
If this specific proposal passes it should mean that anyone who has been thinking about buying an apartment in this down market for speculative purposes should do so before the end of December 2010, boosting demand this year compared to the start of next.
I am not sure how you could estimate the magnitude of this effect and whether it could be significant enough to trade on given transaction costs. But nonetheless anyone considering selling an apartment in the near future should do so in December rather than January (assuming there isn't a strong upward trend in place of course that would overpower the tax change effect).
Labels:
economics,
real estate,
slovakia,
taxes
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