Business News

Home price growth remains strong

Ljubljana, 20 December (STA) - Home price growth accelerated in the third quarter of 2019, with average prices rising by 8.5% year-on-year and 3.1% over the previous quarter on the back of strong growth in prices of used flats, show Statistics Office figures released on Friday.

Prices of second-hand homes rose by 3.1% over the previous quarter and 5.3% on the year before, mostly due to a 6% increase in the prices of houses.

While the prices of used apartments, the biggest single category of real estate, grew at a slower rate, 1.6% at the quarterly level, in Ljubljana they rose by 2.3%.

"Compared to average 2015 prices, used apartments in Ljubljana are now a full 39.7% more expensive," the statisticians said.

New homes were on average 2% more expensive than in the second quarter, but the figure masks a 3.3% quarterly decline in prices of apartments, which was offset by a 12.7% surge in the prices of houses.

Transactions remained brisk as well, as homes worth EUR 320 million changed hands in the three months, just EUR 10 million less than in the second quarter.

There were very few sales of new homes: second-hand homes accounted for EUR 310 million of the total transactions.

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