Commercial real estate prices continue to rise
Commercial property prices are rising.
According to the Statistical Office of Slovenia, prices for commercial real estate rose again on average in the third quarter of last year.
Prices for cafes and restaurants and offices in the 3rd quarter of 2021 fluctuated in different ways: cafes and restaurants fell slightly, while offices rose in price.
Commercial real estate prices continued to fluctuate relative to the second quarter of 2021.
In the third quarter of 2021, the total supply of cafes, restaurants and offices in the market was on average 4.8% higher than in the previous quarter, while prices for cafes and restaurants (locales) decreased and prices for offices increased.
After three quarters of growth, locale prices fell 1.3% in the third quarter of 2021 compared to the previous quarter. The number of locales sold (92) was lower than the previous quarter, and the total area of locales sold and the total value of sales transactions were about half that of the previous quarter.
After two consecutive quarters of falling office prices, in the third quarter of 2021 office space prices rose by 11.7% QoQ. The number of offices sold (86) was lower, while the total area of offices sold and the total value of sales transactions were about half that of the previous quarter. After this increase, prices for office space are already 23.6% higher than the 2015 average.
Annual prices for commercial real estate are on average higher.
Compared to the third quarter of 2020, commercial real estate prices, i.e. cafes and restaurants and offices combined, in the third quarter of 2021 an average increase of 8.9%. Prices for office space increased by 14.8%, and for local locations – by 7.9%.
Compared to the 2015 average, commercial property prices were up 12.7% in the third quarter of 2021.
