Commercial property price indices, 3rd quarter 2024

Commercial real estate prices slightly higher again

In this year’s 3rd quarter, the prices of commercial real estate grew by 2.3%.This time, the prices of offices increased significantly, while the prices of retail premises decreased. The number of sales, which fell sharply already in the first half of 2024, remained low in the observed quarter.

  • 27 December 2024 at 10:30
  • |
  • final data

Modest growth in commercial real estate prices on a quarterly basis ...

Compared to the previous quarter, the prices of commercial real estate, i.e. retail premises and offices combined, increased in the 3rd quarter of 2024 by 2.3%. Only the significantly higher prices of offices, which rose by 11.4%, contributed to the overall price increase, while the prices of retail and service premises, which had risen in the previous two quarters, fell by 5.1%. The decrease in prices of retail and service premises was expected due to the usual quarterly prices variations, while the increase in office prices was unexpectedly high, particularly due to the cooling of the commercial real estate market.

As in the first two quarters of 2024, the total number of commercial real estate sold in the third quarter was very low (118). Compared to the first three quarters of 2023, it was a third lower in the same period of 2024. Despite this, the total value of commercial real estate sold in the 3rd quarter (EUR 38.1 million) was exceptionally high, which is the result of the sale of three large office buildings. In the commercial real estate market, the trend is clear: starting from 2022, the volume of trading has been decreasing in terms of the number of sales, the total value of sales and the total usable area of sold real estate.

… and still strong year-on-year growth

At the annual level, commercial real estate prices rose for the thirteenth consecutive quarter (this time by 10.9%), mainly due to the 15.1% growth in office prices, while the prices of retail and service premises were higher by 7.2%.

Tables with the latest data are available in the SiStat Database
Growth rates of commercial real estate prices, Slovenia
Growth rates of commercial real estate prices, Slovenia
Trends in commercial real estate prices, Slovenia
Q3 2024
  Ø 2015  
Q3 2024
Q3 2023
Q3 2024
Q2 2024
Q3 2024
Q4 2023
indexgrowth rate (%)
1 Commercial properties – TOTAL155.4710.92.315.8
   1.1 Retail and Services145.277.2-5.111.7
   1.2 Offices170.1315.111.420.5
METHODOLOGICAL NOTE

Additional explanations are available in the methodological explanations.
When making use of the data and information of the Statistical Office of the Republic of Slovenia, always add: "Source: SURS". More: Copyright.