The Slovenian real estate market has seen sales decline for five quarters in a row

The Slovenian real estate market is falling. In the second quarter of 2023, compared to the same quarter of 2022, the number of residential property transactions fell in 13 of the 14 EU member states.

Eurostat has published data on the dynamics of changes in residential real estate sales in 14 EU member states, which provided quarterly reports for 2022 and 2023. These data cover changes in the total number and value of housing (both newly built and existing) sold to households.

The full review can be found here. We are interested in Slovenia and what changes are taking place in its real estate market relative to other countries of the European Union.

As we can see from the data presented (Diagram 1), the increase in the number of residential real estate sales in Slovenia in 2021 compared to 2020 was 19.9%, and already in 2022 the drop was 7.6%.

Diagram 1.

In the first and second quarters of 2023, compared to the same quarters in 2022 (Figure 2), the number of residential real estate transactions decreased in 13 European countries. At the same time, the largest drop was observed in Finland (-49.9% and -41.6%, respectively) and Luxembourg (-44.8% and -50.1%). The only country where the indicator increased was Cyprus (+36.8% and +17.1%, respectively).

As for Slovenia, the number of residential property sales in the first and second quarters of 2023 decreased by 27.2% and 30.0%, respectively.

The Slovenian real estate market is falling.

Diagram 2