Residential Real Estate Prices Rise for the Tenth Consecutive Year, While Sales Decline
In the last quarter of the previous year, residential real estate prices increased by 3.1% compared to the previous quarter. The annual growth in residential property prices last year was 8.5%, marking a decade of uninterrupted price increases, according to the Statistical Office of the Republic of Slovenia (SURS).
Compared to the third quarter, the most significant price increase was recorded for new apartments, which rose by 10.2%, followed by increases in the prices of second-hand family houses (by 10%), second-hand apartments (by 7.3%), and new family houses (by 2%).
New residential properties became 8.4% more expensive in the fourth quarter compared to the previous quarter. Prices for new apartments rose by 8.8%, while prices for new family houses increased by 4.4%.
Meanwhile, prices of second-hand residential properties increased by 2.2% on a quarterly basis. In particular, the prices of second-hand family houses grew by 2.6%, while second-hand apartments became 2% more expensive.
In Ljubljana, statisticians recorded a 1% increase in second-hand residential property prices, while in Maribor, the growth was 1.8%. The most significant price increases were observed in the rest of Slovenia, where prices rose by 2.7%, according to SURS.
One-Fifth Fewer Residential Properties Sold Last Year
Throughout the past year, residential property prices increased by 7.4% compared to 2023. Prices of new residential properties recorded a 10% increase, while second-hand property prices rose by 7.4%. In both categories, apartment prices saw the highest rise: new apartments by 11.6% and second-hand apartments by 8.2%.
The total value of all residential properties sold in 2024 amounted to approximately €1.3 billion, which is 14.7% less than the previous year. The number of real estate transactions also declined last year. While in 2023, 10,300 apartments and family houses changed ownership, last year this number dropped to 8,124, a decrease of 21.1%, according to STA.
The number of sold second-hand residential properties in the last quarter was above the annual average, with SURS recording 2,182 transactions. The total value of these sales reached €353.6 million.
