Business News

Home price growth continues

Ljubljana, 21 June (STA) - Slovenian home prices grew at an average rate of 0.8% in the first quarter of the year and were up 8.9% on the year before, a sign that rapid price growth is slowing but at a very sluggish pace, show Statistics Office data released on Friday.

The rates are lower than in previous quarters, when annual prices grew at double-digit rates, as the shortage of housing that has lasted for years after the crisis slowly eases with the arrival of new developments on the market.

The prices of second-hand homes, which account for the vast majority of all transactions, rose by 0.9% over the previous quarter and by 9.9% annually.

Used flats were up 8.9% annually and 1.3% at the quarterly level, while houses were almost a percent cheaper than in the previous quarter, even as their prices surged by 12.4% annually.

The prices of new homes, meanwhile, rose by 6.9% at the annual level and declined by 1% over the previous quarter.

Apartments were 9% more expensive than in the previous quarter, but the prices declined by half a percent year-on-year. House prices were up 3.3% over the previous quarter and a percent more expensive than in the same period last year.

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