Value of real estate in Slovenia also increased significantly last year, despite the pandemic. It is growing despite the smaller number of transactions. The price of used flats in Ljubljana has risen to almost 3,000 EUR! Real estate is also a great investment for people who want to start a business in Europe!
The value of real estate increased, but the number of transactions fell due to restrictions on brokerage
Last year, the Surveying and Mapping Authority of the Republic of Slovenia (GURS) recorded a decrease in the number of transactions with flats by 15-20% compared to 2019. The number of transactions with houses decreased by 5 to 10 %. But this decline in real estate purchases is solely a result of restrictions on real estate agents’ operations. Because the real estate sales noticeably rose with the release of restrictions in May. That this is not the rule is also shown by the fact that the number of land transactions even increased on average last year – by 3 %.
But the value of real estate, despite the reduction in transactions, also increased last year! It is also interesting to note that the increase was felt in virtually all segments.
What is the value of real estate across the country?
As with other segments of the real estate market, used housing prices rose in 2020. The average price of a used apartments in the country thus reached almost the price of 2,000 EUR per square meter.
Of course, the price of used flats in Ljubljana has risen to almost 3,000 EUR per m2. The value of real estate on the coast (excluding Koper) also approached this price at 2,720 EUR/m2. The surroundings of Ljubljana reached 2,300 EUR, Maribor and Celje 1,410 EUR and Kranj 2,180 EUR. While Koper is the only area where the price fell to 2,380 EUR in comparison to prices in 2019.
The prices of new flats are, of course, even higher. In Ljubljana, the prices of new constructions range from 2,900 EUR more than 11,000 EUR per square meter.
What do they predict for the value of real estate in the future?
The value of real estate should to maintain an optimistic trend in the future – according to real estate agents! Demand for real estate in 2021 is additionally stimulated by low interest rates. At the same time, the consequences of the epidemic in the housing market have not yet really shown themselves.
In larger cities, such as Ljubljana, the biggest limiting factor is the supply itself. Because until the supply of housing increases, so will the price and value of real estate.
All over the world, people are beginning to notice the importance of space and view real estate as a sound investment for the future!
The figures indicate a noticeable increase in real estate traffic, especially with houses. The reasons for this is the greater demand for more spacious residential real estate. This trend is not even so local, as it is recorded all over the world.
Demographic trends also point to changing habits. For example, older people who previously decided to sell larger family homes in exchange for smaller ones stay where they are. This also has a big impact on the supply of real estate.
The global real estate market is also recording rental prices. In some markets, the local government even actively intervenes and restricts market speculation with real estate investments, which have occurred due to such high liquidity.
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