Residential Real Estate Prices Continue to Rise in Slovenia

By , 24 Jun 2021, 16:35 PM Business
Residential Real Estate Prices Continue to Rise in Slovenia JL Flanner

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STA, 24 June 2021 - Residential property prices in the first quarter were on average 3.1% higher than in the previous quarter and 7.3% higher compared to the same period in 2020. The total value of residential property sold was EUR 297 million, which is EUR 33 million less than in the fourth quarter of last year and about the same as in the first quarter of 2020.

Prices of new residential property (new houses and flats combined) were on average 7.5% higher in Q1 than in the previous quarter.

That means that prices for new houses and flats have gone up for the second quarter in a row, this time up by 8.6% and 7% respectively, the Statistics Office said on Thursday.

Prices of second-hand residential property in Slovenia (second-hand houses and flats combined) increased by 2.9% on average on a quarterly level.

The prices of second-hand houses increased by 1.4%, while second-hand flats were 3.8% more expensive. The prices of second-hand flats increased the most in Maribor (4.6%) and Ljubljana (3.7%), while the average increase in the rest of Slovenia was 3.6%.

At an annual level, the prices of new flats saw the biggest increase (+13.1%), followed by new houses (+9.2%), second-hand flats (+7.5%) and second-hand houses (+6%).

The total value of all residential property sold in Slovenia in the first quarter of 2021 was EUR 297 million, compared to EUR 330 million in the fourth quarter of last year and EUR 289 million in the first quarter of last year.

The total number of residential property sales fell for the second consecutive quarter as 2,538 were sold in Q1, down by around 18% compared to the fourth quarter of last year.

Fewer second-hand residential properties were sold, 2416 with a total value of EUR 271 million, and there were also fewer sales of new residential properties.

Despite the decline in the total number of new residential property sale transactions, the trading volumes were 14% higher quarter-on-quarter, driven by higher sales prices for new residential properties.

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