Ljubljana related

04 Oct 2020, 15:01 PM

STA, 4 October 2020 - Nepremicnine.net, the leading real estate website in Slovenia, has been taken over by Real Web, a company owning several leading internet real estate platforms in Europe. According to news portal Siol, Real Web has acquired a 60% stake, while the rest will be preserved by Nepremicnine.net's founders.

Nepremicnine.net, established in 1999, has developed into the leading internet real estate platform in Slovenia and is also one of the busiest websites in the country with about 800,000 visits each month.

The takeover, whose details have not been disclosed, strengthens the presence of the international group Indomio, associated with Real Web, in Europe. The group includes the biggest internet real estate platform in Italy Immobiliare.it as well as the leading Greek platform Spitogatos.gr.

Nepremicnine.net co-founder and executive director Primož Jazbec told Siol that cooperation with Indomio presents a strategic opportunity, providing the platform with crucial technological know-how to grow business operations.

"It also secures long-term growth as a result of the strongest possible positioning in other EU member states," he added.

Immobiliare.it co-founder Silvio Pagliani said that they had known Jazbez and Aleš Ravnikar, also a co-founder, for several years and were exited to start cooperating.

"This cooperation allows us to continue building the leading real estate platform in multiple European countries," Pagliani said.

Spitogatos.gr co-founder and executive director Dimitris Melachroinos said the joint brand will be even more recognisable due to shared technology.

23 Sep 2020, 13:17 PM

STA, 23 September 2020 - The prices of residential properties in Slovenia in the second quarter of 2020 were up 1.9% compared to the first quarter, and 5.2% higher than in the same period last year, the Statistics Office said. But transactions were significantly lower, with the total value of all real estate sold being the lowest since the first quarter of 2015.

The prices of new apartments and houses were up by 7.1% compared to the previous quarter.

After dropping by 0.3% in the first quarter, the prices of new apartments jumped by 7.5% in the second. New houses were also 2.6% costlier than in the first quarter.

The prices of used homes rose by 1.4% in quarterly comparison. This means 1.6% higher prices for used apartments, and 1% for houses.

Family properties were on average 5.2% costlier in the second quarter of this year than in the second quarter of 2019. Up the most were the prices of new family houses (by 23.6%) and used apartments outside Ljubljana (by 7.8%). Meanwhile, a notable drop was recorded in the prices of used apartments in Maribor (by 1.2%).

The total value of all residential real estate sold in the second quarter reached EUR 229 million, which is some EUR 60 million less than in the first quarter.

This is also the lowest total value of all residential real estate sold since the first quarter of 2015, when sales stood at EUR 207.

The Statistics Office partly attributes the drop in transactions to the Covid-19 epidemic, which virtually stopped all activity on the Slovenian real estate market.

A total of 2,161 units of used residential real estate were sold in the second quarter, in the total value of EUR 220 million, which is almost half of the figure recorded in the same period last year.

Only 55 pieces of new residential real estate worth EUR 10 million in total were sold in the second quarter, while in the first 76 were sold worth EUR 14 million.

More data on house prices in Slovenia

20 Aug 2020, 11:03 AM

STA, 20 August 2020 - As soon as the strict coronavirus measures were relaxed at the end of April the property market picked up, yet there are still fewer transactions than before the epidemic. Demand still exceeds supply, keeping average prices high, partly because of the many deals in Ljubljana, where prices are well above the national average.

"At the moment there are fewer transactions on the property market," the director and owner of real estate agency Stan Nepremičnine, Stanka Solar, told the STA.

She said this trend could be seen over the past month, so she partly attributes it to the summer season and a lack of adequate supply of used flats at good locations.

Solar said demand was strong in particular for higher-end new housing, but she believes new flats or houses are "slightly mispriced given the buyers' expectations".

"The majority of people expect a price correction for property which needs energy renovation and for more expensive new housing."

Similarly, Boris Veleski from Mreža Nepremičnin said the number of transactions was much lower after the epidemic, even though a month after it the market started to rebound.

Remax Ljubljana said that "at this moment we don't see any major changes in transactions, as demand still exceeds supply".

Urška Hočevar from this estate agent said the market is dominated by strong, motivated buyers who have a clear vision and know how they will finance the purchase.

Preliminary data by Slovenia's Surveying and Mapping Authority (GURS) for the first six months shows some 5,400 deals with flats and houses were carried out, down 35% from the same period in 2019.

However, these transactions amounted to EUR 532 million, which is 70% of all property transactions, an absolute record for a six-month period, GURS has recently said.

According to Solar, there is much demand for one- and two-room flats, but also for three-room flats, especially second-hand properties which do not require major investments.

Flats with a lift and a parking area are also in high demand.

She said there is an increasing number of buyers who have some savings and deem a piece of property the safest investment.

Mreža Nepremičnin said there is a lot of demand for smaller flats, up to 65 square metres, but also for larger ones, over 100 square metres.

Remax said cheaper flats near the city centre are in high demand.

"However, already during the epidemic we detected some more demand for houses, holiday homes and land, as many found it hard to be in a flat during lockdown," said Hočevar.

GURS data also shows the prices of used flats rose by 7% in the January-June period compared to the same period in 2019, with an average price per square metre exceeding EUR 1,900 for the first time.

Solar corroborated this, saying "the prices of used properties have increased. Demand still exceeds supply and there is currently a lack of housing at desired locations into which a new owner could move in a few months".

She said the prices of rental homes had meanwhile dropped by some 15-20% compared to before the coronacrisis.

Mreža Nepremičnin and Remax have not noticed any price drops either. Hočevar said a downward correction was possible in the long-term.

Fewer tourists from abroad have meanwhile given a headache to many owners who took out loans to buy flats for short-term rental. These loans need to be repaid regardless of the current lack of demand by tourists.

"Some of these flats have been put up for sale, but not that many, other owners have opted for medium-term rental if they could, because many hope or believe that things will soon be the same as before the epidemic," said Veleski.

Solar said many of those who had been renting through Airbnb and Booking decided to rent to students or other individuals for the long or medium term.

Hočevar said that even those owners who insisted on short-term renting this summer in Ljubljana or other tourist areas will eventually be forced to rent for the long-term or even sell.

The estate agents largely agree that the pandemic has made it hard to predict the trends in the coming months.

Solar does not expect any major price changes until the end of the year, except for housing in need of energy renovation and for relatively pricey new housing.

Veleski believes much will depend on developments outside Slovenia's borders. He thinks the existing trend will last at least until spring 2021.

All our stories on property in Slovenia

07 Aug 2020, 17:13 PM

STA, 7 August 2020 - Preliminary data by the Surveying and Mapping Authority indicate about a 40% drop in both the number of deals and turnover in real estate in the first half of 2020. Prices of used flats meanwhile continued to grow, by 3% compared to the second half of 2019, taking the average square metre price in the country above EUR 1,900 for the first time.

The latest stats on Slovenia and coronavirus are here

The data, released on Friday, show 10,800 transactions were registered in the first six months in a total value of EUR 770 million. This is a 40% drop for both figures compared on the second half of 2019 and a 40% and 45% decline respectively year-on-year.

The Surveying and Mapping Authority said that in the face of an almost complete market freeze during the lockdown, it decided to publish the preliminary data even though a fair part of deals for the first six months had not yet been registered and processed for proper market analysis. Final data will be released in October.

The body estimates that the actual year-on-year decline in the number of deals and in turnover will be between 35% and 40%. It pointed out that 2019 had seen record figures, mostly due to an unusually high number of deals involving commercial real estate.

As for the continuing rise in the prices of used flats - by 3% on the second half of 2019 and by 7% year-on-year - the Surveying and Mapping Authority noted a similar phenomenon had been seen in 2008.

"In such circumstances it is only the better and fairly expensive flats that continue to get sold and their prices are not decreasing yet due to market inertia," the experts wrote, while pointing out that the market picked up again in May as the epidemic was declared over.

Housing property accounted for almost 70% of total turnover in the first half of the year, up significantly on previous years and even above the 66% recorded in 2015. Between January and 15 July, 5,450 transactions were recorded, a 37% decrease on the second half of 2019 and 36% year-on-year. Turnover for new flats was down by more than 70%.

The number of recorded transactions with land suitable for construction on the other hand fell by only a third compared to the first and second half of 2019, while the number of deals involving farm and forest land decreased by about half.

All our news on real estate in Slovenia

07 Jul 2020, 13:33 PM

STA, 7 July 2020 - Since Croatia entered the EU in 2013, Slovenian citizens purchased a total of 9,439 properties in the country, which makes them the most numerous foreign owners of real estate in Croatia in that period.

Unofficial estimates meanwhile put the total number at 110,000, mostly houses or apartments on the Croatian coast, as the bulk of them were bought during the times of the former Yugoslavia.

Citing data from the Croatian Tax Administration, Večernji List says that there should be no concern in Croatia that the Slovenian government would prohibit its citizens from entering Croatia.

Slovenia will not be restricting its citizens in going to the neighbouring country during the Covid-19 pandemic because it will protect the interest of property owners, the Croatian newspaper adds in a report on Tuesday.

When it comes to purchases of real estate in Croatia in the last seven years, Slovenians are followed by Germans (4,969), Austrians (2,867), Italians (1,612), Swedes (1,232) and Hungarians (949).

According to the Croatian Tax Administration, only around 4,400 foreign owners are officially leasing their real estate to tourists and pay tax for that.

Večernji List says that the state body has no complete data on real estate owners in one place, and that precise data will be obtained after a census, which is planned in Croatia next year.

16 Jun 2020, 14:58 PM

STA, 16 June 2020 - Reflecting on the housing market in Ljubljana, the business daily Finance points in Tuesday's commentary to the simultaneous increase in newly available flats and the pending drop in purchasing power.

The building of apartments was sped up quite noticeably last year, with more than 988 multi-unit buildings being completed, almost double the 2018 number.

By far the largest number of new flats appeared in Ljubljana. And while people were complaining a few years ago that the focus was only on high-end housing, quite a few "normal" flats are being built in the capital now.

A problem may however appear on the demand side, the paper says, pointing to bleak economic forecasts for this year and the fact that few people can afford to buy an apartment as it is.

The price growth of flats in Ljubljana stopped already last year. Given the simultaneous rise in supply and decrease in purchasing power - even if the Surveying and Mapping Authority says that demand still exceeds supply, prices could also fall.

"Considering all this, we might soon no longer be wondering who will buy a flat costing EUR 5 million but will buy one for EUR 150,000," Finance says in the commentary, entitled Who Will Buy a Flat for EUR 5m?

11 Jun 2020, 13:00 PM

The 2019 Real Estate Market Report, published by the Surveying and Mapping Authority of the Republic of Slovenia, shows that property prices continued to grow last year.

In 2019 the prices of apartments across the country broke the previous record set in 2008. In Ljubljana, however, the record was already broken in 2018.

The national average for a square metre of an apartment was €1,850 in 2019, 2% higher than the national average in 2008.

Since 2015, housing prices have risen steadily. The highest price growth was recorded in 2018, when the prices of second-hand flats were, on average, 9% higher than in the previous year, despite the decrease in the number of sales. In 2019 housing price growth continued at a slightly lower rate.  

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Apartment price averages in euros per square meter:

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The average price of a residential house with land belonging to it in Slovenia was EUR 128,000 in 2019, 3% higher than in the previous year and 19% higher than in 2015. Since 2015 the average area of homes sold has increased significantly, while their average age and the area of land they come with have not changed significantly. Taking into account the characteristics of the houses sold, it has been estimated that house prices at the national level have grown by 15 to 20% in real terms since 2015, while compared to 2018 they have remained virtually unchanged.

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Average price for a house in EUR:

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08 Jun 2020, 18:04 PM

Sometime in the next week or so every adult and foreigner with permanent residency in Slovenia will be eligible for a €200 tourism voucher (turistični boni), and every child one worth €50, as a way to kickstart the summer season, when the industry will be relying on domestic tourists more heavily than usual. The “vouchers” can be used to pay for accommodation, and will be claimed by giving your Slovenian tax number to the provider (at least for the adults – it’s unclear, as yet, how the children will get theirs).

The money can be used at any businesses registered under the following categories:

- 55.100 - Hotels and other similar accommodation

- 55.201 - Holiday homes and resorts

- 55,202 - Tourist farms with rooms

- 55.203 - Renting private rooms to guests

- 55.204 - Mountain lodges and youth hostels

- 55,209 - Other short-term accommodation

- 55.300 - Camping activities

It’s in this context we’re presenting the following five properties in Soča, Bled, Bohinj and Kranjska gora - the home of holiday homes in Slovenia - all of which are on the books of Slovenia Estates and available for short-term rental as part of the scheme, and all of which come with an additional 10% discount for all weekly reservations made by end of June for all stays in June, July and August.

So take a look at the five properties below, two photos for each, click through to see more of the stylish interiors, learn more about the location, and start planning your next vacation.

Gorgeous, luxury renovated house, Bohinj: Four bedrooms, sleeps up to 7

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Bohinj Area - Gorgeous, luxury renovated house 02.jpg

See more of this property here

Two quiet houses by the river - Bohinj: 3 bedrooms, sleeps 7

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Lake Bohinj - Quiet 2 houses by the river 02.jpg

See more of this property here

Fabulous renovated luxury house, Soča: 3 bedrooms, sleeps 6

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Soca River House - Fabulous renovated luxury house 01.jpg

See more of this property here

Sweet renovated cottage in Bohinjska Bela, Bled: 3 bedrooms, sleeps 6

Bled Area - Sweet renovated cottage in Bohinjska Bela.jpg

Bled Area - Sweet renovated cottage in Bohinjska Bela 02.jpg

See more of this property here

Wonderful chalet close to Kranjska Gora: 3 bedrooms, sleeps 7

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Wonderful Chalet close to Kranjska Gora 02.jpg

See more of this property here

If you'd like to see some other properties around Slovenia, available for sale or rent, in various locations and for various budgets, check out our real estate page

29 May 2020, 18:07 PM

STA, 29 May 2020 - The total value of real estate transactions in Slovenia reached a record level last year, estimated at EUR 2.7 billion, as prices continued to grow, albeit at a slower pace than in 2018, shows a report from the Surveying and Mapping Authority (GURS).

GURS, which notes that the record amount should be attributed to several sell-and-lease-back contracts for shopping centres, says in the report that real estate prices exceeded the previous peak in 2008.

According to preliminary data, around 35,500 transactions were recorded last year with their total value approaching EUR 2.7 billion. It is expected that the final number will exceed 36,000 and their total value to stand at EUR 2.7 billion.

This will be the highest annual amount since real estate transactions started to be systematically recorded in 2007.

"Compared to 2015, the number of transactions with real estate was up by more than 20%, while their total value increased by almost 60%," shows the 2019 report.

The record value is attributed to a steep rise in the value of transactions with commercial real estate, which exceeded half a billion euro. Its share in the total value, which usually stands around 10%, was up to more than 20%.

The value of transactions involving residential real estate was up by 10% compared to 2018 to EUR 1.59 billion, of which transactions with apartments amounted to EUR 951 million. The number of transactions was up by 1% to around 10,750.

The number of transactions with second-hand apartments was up by 1.5% to 10,160, while the number of new apartments sold was down by a third to 600. This is well below the annual average for the 2015-2017 period of more than 1,000.

"The number of new apartments which entered the market in 2019 was not even close to sufficient, and a majority of new apartments which will satisfy the demand is expected to built by the end of 2021," the report adds.

Growth of the prices of second-hand apartments slowed down last year, with the average price per square metre standing at EUR 1,850, which is nevertheless 5% more than in 2018, and 28% more than in 2015, when the trend reversed.

In Ljubljana, where the prices of apartments were the highest for the last three years, exceeding the previous peak in 2018, the average price of a square metre in a second-hand apartment was EUR 2,800, up 1% year-on-year.

The average price of a house was EUR 128,000, or 3% less than in 2018 and 19% more than in 2015. Considering the features of houses sold, GURS has estimated that their prices at the national level have increased by 15-20% since 2015.

GURS notes that this year, the real estate market will be significantly affected by the coronavirus epidemic, during which "transaction stopped and it is clear that the 2019 trends are history."

08 Apr 2020, 12:41 PM

STA, 8 April 2020 - Businesses which had to close their doors due to the coronavirus lockdown have been left without revenue. To add to their woes, many need to pay rent and running costs. Some landlords have decided to help them by deferring rent, others are still deciding what to do.

Small businesses selling non-essential goods and providing various services, as well as bars and restaurants were forced to close shop in mid-March, and many of them warn that they might not be able to re-open at all.

Many of them find it difficult to pay wages for March, let alone rent and utility costs.

Owners of shopping centres and malls have come up with different solutions for the problems of their tenants, and all of them stress that this is the first time they have encountered such a situation.

The retailer Tuš said it had not decided yet whether to lower rent, while Spar said that the "situation requires a great deal of adjustment and understanding, but we believe that we will find optimal solutions in the spirit of good cooperation."

Supernova, the Austrian-owned shopping mall operator, said it was in constant contact with tenants, making individual arrangements. "We want to balance out the consequences, as one side must not bear all the consequences, be it the tenant or the landlord."

SES Slovenija, which operates the shopping malls Citypark, Citycenter, Europark and Aleja, with the last one yet to be opened, has admitted that the crisis has taken them by surprise, and that many issues remain open.

The company has allowed its tenants to defer rent and operating cost for April. "By doing so we want to help entrepreneurs maintain their liquidity, even before the state adopts measures to support commerce and before this aid takes effect."

It added that additional support measures for salvaging Slovenian retail, services and hospitality companies were not excluded, but this would depend on the financial support from the state and the duration of the restrictive measures.

As for Aleja, which was supposed to open on 19 March, SES Slovenija said that individual solutions were being sought with tenants. "All partners will be able to defer payment of rent from the date of the planned opening to the date of actual opening."

The company would like to see the state come up with a plan for re-opening shops and individual branches of industry, as this would help all stakeholders organise and optimise costs.

The Slovenian Chamber of Commerce (TZS) will, according to its president Mariča Lah, publish this week an assessment of the situation in commerce, which will serve as basis for a proposal to re-open shops selling technical goods.

Rent could be tackled by the additional anti-corona legislative package, which is being drafted by the government.

The TZS has proposed a model for distributing the burden, under which the state would cover around 70% of rent, and the payment of the remaining amount would be agreed between the owner and tenant.

Under this model, landlords would not be able to terminate contracts due to the non-payment of rent, which would be applied retroactively as of the day when the epidemic was declared, 12 March.

SES Slovenija added that retail, as one of the largest employers in the country, had been severely affected and that comprehensive measures would be needed. It proposes that the state subsidises write-offs of goods which could not be sold.

The company also proposes that the state provide grants to businesses for the costs incurred during the closure and for a certain period after the closure (rent, insurance premiums, leasing instalments and utility bills).

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