Večer Laments Vicious Circle of Slovenia’s Rising Property Prices

By , 29 Nov 2021, 12:11 PM Business
Večer Laments Vicious Circle of Slovenia’s Rising Property Prices Flickr - CC-by-0

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STA, 29 November 2021 - The newspaper Večer writes about the "vicious circle" of soaring prices of residential properties in Slovenia in Monday's commentary, finding that for many home ownership is becoming out of reach.

The piece, headlined Vicious Circle [Rast cen nepremičnin: V začaranem krogu], notes that 94% of residential real estate in Slovenia is in private ownership, and now the question is how to buy a home given the soaring prices.

"After the latest hikes in real estate prices with up to over 8,000 euro (!) per square metre in Ljubljana, it is clear an ever smaller circle of people can afford a property [...]

"We have entered a vicious real estate circle that many do not see a way out of," writes the paper, noting that only this year prices in some locations have risen by 40% compared to 2015 and used flats cost almost as much as new ones.

The paper notes that young people buying their first home or families that would like to move on getting a child are pressed hardest. "If they do not have savings or have won a lottery, buying a roof over your head is all but mission impossible today."

It is no easier renting a flat considering the lack of rental housing. "For non-understandable reasons the state is holding back construction of rental housing that could in the future at least partly mitigate the raging of property market prices."

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