Residential housing price indices, Slovenia, 2nd quarter 2015

In the 2nd quarter of 2015 residential housing prices on average up for the third consecutive quarter

In the 2nd quarter of 2015 residential housing prices were on average 2.3% higher than in the previous quarter. The number of transactions of existing dwellings is increasing and has already reached the pre-crisis level, while the number of sold newly built dwellings is still low.

  • 23 September 2015 at 10:30
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Prices of newly built dwellings slightly up

In the 2nd quarter of 2015 the prices of newly built dwellings (new flats and new family houses together) increased by 4.4% over the previous quarter. This is the third consecutive increase after the prices reached the lowest level in the 3rd quarter of 2014.

Compared to the previous quarter, in the 2nd quarter of 2015 the prices of newly built flats increased by 6.3%. Due to the low number of transactions, the prices of newly built flats usually vary, but this third consecutive rise shows that as regards newly built flats  probably the bottom has already been achieved (in the 3rd quarter of 2014).

The number of transactions (187) was almost the same as in the previous quarter, but a fifth higher than the average of the past two years. In the 2nd quarter of 2015, as in the previous two quarters, most flats (58%) were sold in the Osrednjeslovenska statistical region; 47% in Ljubljana alone. In this quarter, too, the high number of transactions was the result of the Housing Fund of the Republic of Slovenia, which is responsible for 22% of all transactions. Other investors on more expensive locations also managed to sell more flats.

The prices of newly built family houses usually vary significantly; in the 2nd quarter of 2015 they again decreased by 3.5% over the previous quarter. The number of sales was extremely low (37). 

  

Prices of existing dwellings again slightly higher as well as the volume of sale

In the 2nd quarter of 2015 the prices of existing dwellings in Slovenia increased on average by 1.8% over the previous quarter. The number of transactions (2,020) reached the highest value in the past seven years. Trading with existing dwellings has thus reached the pre-crisis level.

For the second consecutive quarter, the prices of existing flats in Ljubljana increased over the previous quarter, this time by 3.4%. The prices of the existing flats outside Ljubljana also increased, actually by the same percent as in the previous quarter, i.e. by 2.2%.

In the 2nd quarter of 2015 the prices of existing family houses were the same as in the previous quarter. Since the number of transactions of existing family houses was at the record high (508), we can infer that this part of the real estate market in Slovenia established a more permanent balance between supply and demand. The higher number of transactions (by 7%) was the result of the improved system for monitoring the quality of data on real estate transactions, which has recently been implemented by the Surveying and Mapping Authority of the Republic of Slovenia. Part of the complex transactions of family houses which have so far been eliminated from the statistical analysis can now be used.

Chart 1: Yearly indices of dwelling prices, Slovenia (current quarter/same quarter of previous year)
Chart 1: Yearly indices of dwelling prices, Slovenia (current quarter/same quarter of previous year)
Source: SURS
Table 1: House price indices and number of transactions by type of dwellings, Slovenia, 2nd quarter 2015
IV-VI 15
X-XII 14
IV-VI 15
I-III 15
IV-VI 15
IV-VI 14
IV-VI 15
  Ø 10  
Number of
transactions
1 House price indices - TOTAL103.7102.3103.687.352,244
1.1 Newly built dwellings105.5104.4107.289.66224
1.1.1 Newly built flats 108.5106.3109.293.46187
1.1.2 Newly built family houses93.196.596.678.8537
1.2 Existing dwellings103.4101.8102.586.122,020
1.2.1 Existing flats105.0102.7103.586.191,512
1.2.1.1 Existing flats, Ljubljana105.6103.4105.983.36435
1.2.1.2 Existing flats, rest of Slovenia104.5102.2102.088.341,077
1.2.2 Existing family houses100.2100.0100.485.82508
Source: SURS
When making use of the data and information of the Statistical Office of the Republic of Slovenia, always add: "Source: SURS". More: Copyright.