Prices of Residential Property in Slovenia Rose 12.9% Y/Y in Q3, New Record

By , 24 Dec 2021, 11:17 AM Business
Prices of Residential Property in Slovenia Rose 12.9% Y/Y in Q3, New Record Flickr - CC-by-0

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STA, 23 December 2021 - The prices of residential property increased by 2.8% in the third quarter of the year on a quarterly basis, and by 12.9% year-on-year, which is the highest price increase on an annual basis so far, the Statistics Office announced on Thursday.

After dropping in the second quarter of 2021, the prices of new residential property rose again, by 3.3%. The prices of new apartments were up by 4.3% and the prices of houses increased by 0.6% after a significant drop in the second quarter.

In the third quarter of the year, the prices of second-hand apartments and houses combined increased by an average of 2.7% on a quarterly basis. The increase was slightly higher for second-hand apartments than for second-hand houses.

At an annual level, the prices of residential property were up on average by 12.9%, which is the most since the first quarter of 2008, when the prices rose by 11.8%.

The highest growth in prices was recorded for new apartments (17.9%), followed by the prices of second-hand apartments, second-hand houses and new houses.

The total value of residential property sold in Slovenia in the third quarter of the year was EUR 378 million, which is 18% less than in the second quarter and almost equal to the total value of transactions in the same quarter in 2020.

After a notable increase in the second quarter, the number of transactions with residential property was down to 3,359, but this was still above the long-term average of 2,900 transactions.

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