Business News

Prices of New Apartments Up 1.6% in Q1

Ljubljana, 22 April (STA) - After picking up slightly in the fourth quarter of 2009 following a year-long slump, prices of new apartments continued to rise in the first three months of 2010. They were up 1.6% to be at the level from the beginning of 2007, the Statistics Office said on Thursday.

Despite the small rise, this was the third quarter in a row that apartment prices in Slovenia stood at a level comparable to that in 2007 and early 2008, before a short-lived boom that was followed by the onset of the financial crisis.

However, the number of transactions fell compared to the end of 2009. A total of 279 new apartments were sold in the first quarter, which is 30% less than in the last quarter of 2009.

The biggest number of flats was sold in central Slovenia and the northeastern region of Podravje (28% each), followed by the northwestern region of Gorenjsko (16%).

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