Residential housing price indices, Slovenia, 1st quarter 2017

Dwelling prices in the 1st quarter of 2017 on average 1.3% higher than in the 4th quarter of 2016

In the 1st quarter of 2017 dwelling prices were on average 1.3% higher than in the 4th quarter of 2016. The number of transactions of existing dwellings remained high. Dwelling prices in the 1st quarter of 2017 were 6.9% higher than the 2015 average.

  • 23 June 2017 at 10:30
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Prices of newly built dwellings again lower; the number of transactions modest

In the 1st quarter of 2017 the prices of newly built dwellings (new flats and family houses together) decreased on average by 4.1% over the previous quarter.

After a significant rise in the 4th quarter of 2016 (by 7.4%), the prices of newly built flats went down by 4.6%. The number of transactions was low (194); 94 flats owned by the Bank Asset Management Company were sold in Ljubljana and another 11 flats from bankruptcy proceedings were sold outside the capital city. The average age of newly built flats sold (6.4 years) was much higher than in the previous two quarters (3.7 years). All these factors contributed to lower prices of newly built flats sold in the 1st quarter of 2017. In the Osrednjeslovenska statistical region 65% of all newly built flats were sold, of which 91% in the urban municipality Ljubljana. In Obalno-kraška 12% and in Gorenjska 10% of flats were sold.

The prices of newly built family houses decreased by 1.6% over the previous quarter. The number of transactions was again very low (33).

 
Prices of existing dwellings on average 2.2% higher; the number of transactions still high

At the level of Slovenia, in the 1st quarter of 2017 the prices of existing dwellings (existing flats and family houses together) increased on average by 2.2% over the previous quarter. The prices of existing flats went up by 2.5% and of existing family houses by 1.7%. The number of transactions is still high.

In the 1st quarter of 2017 the prices of existing flats increased the most in Ljubljana, by 3.5%. This was the fifth consecutive price increase in the nation’s capital. In view of the average prices in 2015, the prices of existing flats in Ljubljana were 13.5% higher. Of all dwellings, existing flats in Ljubljana are the ones the prices of which are rising the most.

The prices of existing flats outside Ljubljana increased by 1.7% over the previous quarter. This is the fifth consecutive price increase. The number of existing flats sold outside Ljubljana was the highest in the past ten years.

Lively trading with existing family houses continued in the 1st quarter of 2017. This time 604 existing family houses were sold. Their average price was 1.7% higher than in the previous quarter.

The data on the number of transactions of existing dwellings in the 2007–2017 period – which were used for calculating the residential housing price indices – clearly show that usually the highest number of existing dwellings is sold in the 4th quarter of each year and the lowest in the 1st quarter of each year. The difference between the number of dwellings sold in the 4th quarter of 2016 (2,886) and the 1st quarter of 2017 (2,771) was small, so we can expect that in 2017 the residential housing market will be even livelier than it has been so far.

Chart 1: Yearly indices of dwelling prices, Slovenia
Chart 1: Yearly indices of dwelling prices, Slovenia
Source: SURS
Table 1: House price indices and number of transactions by type of dwellings, Slovenia, 1st quarter 2017
I–III 17
X–XII 16
I–III 17
I–III 16
I–III 17
  Ø 2015  
Number of
transactions
1 House price indices - Total101.3105.9106.872,771
1.1 Newly built dwellings95.9102.5100.97227
1.1.1 Newly built flats 95.4103.8102.66194
1.1.2 Newly built family houses98.497.092.7533
1.2 Existing dwellings102.2106.4107.852,544
1.2.1 Existing flats, Slovenia102.5107.3108.841,940
1.2.1.1 Existing flats, Ljubljana Municipality103.5110.8113.48489
1.2.1.2 Existing flats, Rest of Slovenia101.7104.9105.711,451
1.2.2 Existing family houses101.7104.7105.69604
Vir: SURS
METHODOLOGICAL NOTE

In 2017 the indices are linked through the new index reference period year 2015 (2015 average = 100). All indices are derived, calculated and published on the SI-STAT Data Portal through the 2015 average.

When making use of the data and information of the Statistical Office of the Republic of Slovenia, always add: "Source: SURS". More: Copyright.