Ljubljana, 12 May (STA) - Slovenia's commercial property market saw increases in both sale and rental prices last year, while the number of transactions continued to decline, according to a report by the Surveying and Mapping Authority (GURS).
This pattern in the commercial sector occurred alongside similar trends observed broadly in the property market. Separate data, released in March by the Statistics Office, indicated that while residential property prices rose 8.5% in 2024, marking a tenth consecutive annual increase, the total value of homes sold decreased by 14.7% to around EUR 1.3 billion.
Meanwhile, GURS data show office sale prices increased by an average of 4% in 2024, with the national median reaching EUR 1,283 per square metre. The coastal region surpassed Ljubljana as the most expensive area (median EUR 2,187/sqm, +7%). Ljubljana followed with EUR 1,908/sqm, up 9%, and Maribor with EUR 1,207/sqm. Sales primarily involved older and smaller office units.
Over the past five years, average office prices have climbed 41%, with the coast seeing 50% growth.
Office rents also increased, with a national median monthly rent of EUR 10.4 per square metre. Ljubljana and the coast shared a median of EUR 12, while Maribor stood at EUR 8.8. Central Ljubljana commanded the highest median rent at EUR 15 per square metre.
Preliminary data show 280 office sales contracts recorded for 2024 at a total value of EUR 59 million. GURS projects the final count will be 290-300 deals, down approximately 15% over 2023, valued at EUR 61-63 million, up about 25%, and covering 45,000-47,000 about a 7% increase.
Prices for retail and service premises rose by an average of 11%, hitting a national median sale price of EUR 1,229 per square metre.
Regional medians were EUR 2,494 in Ljubljana, EUR 1,200 in Maribor, and EUR 2,507 on the coast, with central Ljubljana highest at EUR 3,539 per square metre.
Over five years, average prices for retail and service premises in the country rose 28% or as much as 44% in Ljubljana.
The national median monthly rent was just under EUR 12 per square metre. Median rents stood at EUR 18 in Ljubljana - EUR 21 centrally -, EUR 11 in Maribor, and EUR 13 on the Coast.
To date, 266 sales contracts with a total value EUR 108 million, have been recorded for retail and service premises for 2024. GURS estimates the final figures will be 280-290 deals, down over 20% compared to 2023, worth EUR 110-112 million, up 37%.
GURS noted that reliably assessing price and rent changes for industrial properties is difficult due to limited transactions and high property diversity. Last year, prices ranged widely from EUR 300 per square metre for older, remote buildings to EUR 1,200 for modern premises near Ljubljana, with most selling for EUR 400-800.
Despite small samples, GURS confirmed a clear upward price trend nationwide over the past five years.
Preliminary 2024 data for industrial properties shows 61 sales contracts worth EUR 35.9 million. Final estimates suggest 64-67 deals, valued at EUR 38-40 million.
Until 2022, industrial sales typically numbered 90-100 annually and had a total value EUR 25-27 million. The last two years saw a significant drop in transactions, particularly in 2023 when the number almost halved.
