Ljubljana, 17 October (STA) - The negative trend in the sales of residential properties seen over the past three years has been reversed, according to a report of the Surveying and Mapping Authority for the first half of the year. The number of flats sold increased by 30% over the first half of 2024, and the number of houses by 20%, with prices reaching new records.
The Surveying and Mapping Authority said that such a significant increase was somewhat unexpected, likely fuelled by a marked decrease in interest rates, as well as a high level of employment and an increase in real salaries.
According to preliminary data, the Surveying and Mapping Authority believes that over 15,000 property sales deals had been made in the first half of the year in total, for a combined value of over EUR 1.6 billion.
Between January and June, over 4,400 flats were sold and some 2,800 houses. Building land deals increased by by 15-20% over the first half of 2024 to reach 2,700.
Meanwhile, the number of commercial real estate deals decreased by 5-10% to about 420 offices and 280 shops. The number of deals involving agricultural land decreased by at least 25%.
The largest influx of sales in flats was seen in Celje, an estimated 70% over the first six months of last year. In Ljubljana, the increase reached 30%, north of Ljubljana 50%, in Koper and Maribor about 35%, and in Kranj 15-20%. South of Ljubljana, the number of sales of flats dropped by 15-20% over last year, estimates show.
Meanwhile, prices of residential real estate and building land reached record levels once again. The median price of a second-hand apartment exceeded EUR 3,000 per square metre for the first time ever, reaching nearly EUR 4,900 in Ljubljana.
The most expensive flat sold in the first half of the year was the Schellenburg complex in Ljubljana. The 177 m2 unit with two underground parking spaces was sold for EUR 1.9 million, or some EUR 12,700 per square metre of usable space, the report says.
The most expensive second-hand flat was sold in the Trnovo borough. The seller got EUR 1.3 million for the 120 m2 flat built in 2016, including a basement unit and two underground parking spaces. Per square metre, the price was EUR 12,300.
The increase in prices is driven by the fact that supply continues to fail to meet the demand, as well as growing construction cost. Barring major shocks, the Surveying and Mapping Authority does not expect to see significant changes in existing trends in the future.
