OVERVIEW: NEW CONSTRUCTION, PRICES PER SQM, AVAILABILITY

Many flats, and in the case of smaller housing projects the majority, have been sold, and the average prices have risen from 3,500 to well over four thousand euros per square meter.

The residential real estate market started to heat up three years ago, and last year, in 2021, and upcoming year 2022, we are witnessing a real euphoria in the housing market. Apartments, new and old, are going on the market like hot cakes, prices are rising.

Last week, the Statistical Office of the Republic of Slovenia announced that residential real estate prices rose by 2.8 percent on a quarterly basis in the third quarter of this year. At the annual level, they increased by 12.9 percent, which is the largest annual increase in prices so far. That prices rose the most in new housing in a year, was also confirmed by SURS, which calculated almost 18% growth.

PRICE PER SQM

Last year’s average price per square meter of new construction was around 3,500 euros, but in 2021, the bar has moved well above four thousand and that doesn’t include parking prices. The most expensive apartments are being built in Schellenburg Palace, where the average price of an apartment is allegedly one million euros.

That demand for newly built housing is extremely high is also shown by the fact that most major housing projects in Ljubljana are already “sold-out” and investors in some residential neighborhoods have confirmed that the sale is going great and according to their plans.

ADDED VALUE TAX

When buying a new apartment, the buyer must also pay value added tax. For apartments with less than 120 square meters of usable area, a reduced tax rate of 9.5% is paid for apartments, and for apartments with 120 or more square meters of usable area, a higher rate of 22% is paid.

Most companies that develop or sell housing give out prices excluding value added tax. Please note that before buying, you need to check the usable area and get information from the seller at what rate the apartment is taxed. This is also important because of the associated parking spaces, which are charged separately. Parking lots are charged the same tax rate as the corresponding apartment. If the apartment is taxed at 9.5% VAT, parking spaces are taxed in the same way, but if it is taxed at 22% VAT, parking spaces are taxed at this rate.

KVARTET

SPEKTRA

ŠMARTINSKA PLOŠČAD I

SCHELLENBURG VILLA & PALAIS

ŠUMI

DEVANA PARK II

VSO BARJANKA

BELLEVUE LIVING

RB ELLIPSE

Other bigger housing projects are also Koseško okno (Koseze, 94 apartments), Masarykova (Ljubljana center, 81 apartments) and Celovška (Šiška, 60 apartments), but all the apartments have already been sold.

Source: Finance