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Price index of dwellings, Slovenia, 2007
Monday, June 30, 2008, First Release
Prices of second-hand flats continued to increase during 2007 and the annual average prices went up by 22.6%. Remarkable price increase at the beginning and moderate increase by the end of the year.
Continuation of flat price increase in 2007
The flat price increase continued from previous years into 2007 even with an increased rate. As in previous years, the prices increased remarkably in the first quarter (12,7 %). In the second quarter there was a less intensive increase (4,7 %), while during the third quarter a 0, 2 % decrease of prices occurred. During the fourth quarter of the year there was again a rather moderate price increase (2,9 %). The price increase at the beginning of the year may be partly interpreted as the influence of introduction of Euro in Slovenia. In 2007 flat prices increased faster outside the city of Ljubljana, i.e. in the rest of the country, - by an average quarterly rate of 5,3 % , and in Ljubljana by 4,8 %. In two years, from 2005 to 2007, the average annual flat prices increased in Ljubljana by 41,3 % and in the rest of the country by% by 46,0 %. However, having in mind that general price levels of all housing real estates outside Ljubljana are significantly lower, low change in absolute terms may have caused bigger change in relative terms. Annual price indices of flats, Slovenia 2003-2007
| Ljubljana-City | Rest of the country | Slovenia |
| Year | Index
2005=100 | Chain index | Index
2005=100 | Chain index | Index
2005=100 | Chain index |
| 2007 | 141.3 | 119.9 | 146.0 | 124.2 | 144.2 | 122.6 |
| 2006 | 117.8 | 117.8 | 117.5 | 117.5 | 117.6 | 117.6 |
| 2005 | 100.0 | 115.2 | 100.0 | 115.8 | 100.0 | 115.6 |
| 2004 | 86.8 | 112.3 | 86.3 | 108.8 | 86.5 | 110.4 |
| 2003 | 77.3 | | 79.4 | | 78.3 | |
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Methodological note Housing indices at SORS were calculated within the methodology development pilot project with Eurostat. Therefore the housing quarterly price indices for the 2003-2006 periods are published here again. The reason for this is the changes in the methodology which resulted in slightly different results (indices). For previously (2007) published indices the hedonic »time dummy« method was used, now the hedonic »characteristics prices« method has been applied. This is the approach recommended by Eurostat because it combines the hedonic approach with the traditional index number theory approach – here the Laspeyres` index formula is applied. The data source for index calculation has been widened as well. From 1. 1. 2007 on, the new Real Estate Transactions database includes the traditional tax authorities’ real estate transactions data plus real estate transactions reported from real estate agencies and notaries. This has added up some new quality on transactions data. Unfortunately, there is almost no information on newly built housing in this database. In the Real Estate Transactions database there are not available data for some real estate characteristics any more, which are useful in the regression analyses of housing prices (renovation, floor number). On the other hand, now there is available the information on »net ground plan living space« which is much more reliable in explaining housing price formation than the previously used »residence living space«.
Next release not later than:
Wednesday, October 27, 2010
Linked content
Links to the detailed methodological explanations, detailed data in Si-Stat database and liks to other related topic can be found on the web sitehttp://www.stat.si/novica_poglej.asp?id=124.
Statistical Office of the Republic of Slovenia
Vožarski pot 12, SI-1000 Ljubljana | Tel: +3861/241-51-00 | Fax: +3861/241-51-00
E-mail: info.stat@gov.si | URL: www.stat.si
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