Business News

Fresh Survey Finds Housing Price Decline Slowing

Ljubljana, 07 October (STA) - The latest figures from the Surveying and Mapping Authority indicate home prices have largely stopped dropping after a three-year decline, though there are significant regional differences.

The average price of second-hand flats was EUR 1,490 per m2 in the first half of the year, down 3% year-on-year but unchanged over the second half of 2013.

In the majority of urban areas prices remained level on the year before, except in Celje and Koper, where prices dropped by about a tenth over the second half of 2013.

In Ljubljana, the biggest single real estate market, used homes averaged EUR 2,020, up 1.5% over the second half of last year.

The prices of used houses, meanwhile, continue to drop, having declined by 10% year-on-year and 3% over the second half of 2013.

The price level of used houses thus hit the lowest level since systematic monitoring began.

The report does not provide an average price for new flats, as the vast majority are sold at bankruptcy auctions and the prices differ wildly.

The figures dovetail with a recent release from the Statistics Office, which shows a continued decline in prices of new housing but the beginning of a revival of the market for used flats.

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