There have been 2,200 new flat units built in the previous year, which is 1,300 more units than in the year before and is considered the largest number so far. These are multi-family or residential-commercial complexes. Despite the high demand, many new flats remain unsold, specifically those with a larger square footage and consequently a higher price, which are considered luxury. Because of this, demand is still not being met and another 1,600 new buildings are under construction in Ljubljana and its surroundings in 2024. Hopefully, affordable to more people. In the near future, Ljubljana will become a real boom of new housing, with more than 6,500 new constructions already planned.
New or lived-in before flats?
Individuals can choose between new and lived-in flats when it comes to choosing the right home for them. New is sometimes preferable as it serves as a blank canvas for interior decoration, is of more solid construction, is earthquake-resistant and gives a feeling of greater security. On the other hand, older flats can be more attractive from a charm point of view, especially if they are located in the strict centre of Ljubljana. However, some older buildings may not be built to earthquake-proof standards and pose a greater risk. It is also more likely that an older flat will not have a balcony, whereas in newer flats, balconies are indispensable. The most important thing when choosing a flat is the balance between the good features of the building and the price. The latter is, of course, lower in the case of older buildings, which makes them more accessible to lower-income buyers or renters. New flats have higher prices, are mostly unfurnished and, thanks to the new trend, are also mostly luxurious and aimed at the wealthy.
The difference between new and lived-in before housing
A new dwelling is any living unit in a building of at least three dwellings that is not more than ten years old and is being sold for the first time. A second-hand or old dwelling is a unit in a building of at least two dwellings which is not being sold for the first time and is more than three years old. The purchase of new flats is subject to value added tax, unlike the purchase of lived-in flats, which is subject to property tax. The average cost of living in the centre of Ljubljana is €6,500 per square metre. The most expensive new flat sells for €12,000 per square metre. In the last quarter of last year, 102 exclusively new homes were sold in Slovenia, with a total value of €37,670,378.
Statistics on sales and prices of new flats in Ljubljana
At the beginning of the year, 350 thousand housing units were recorded in Slovenia, 27% of which are located in Ljubljana. However, the number of flats sold has decreased by 28% over the last three years, which means that only 2,039 flats have been sold in Ljubljana. However, prices remain higher in the centre than elsewhere. The average price of a new flat in Ljubljana is EUR 1,380 per square metre higher than in the rest of Slovenia.
Prices are also higher in less sought-after areas of Ljubljana such as Rudnik, Tomačevo, Šmartno and Sneberje. However, the greatest interest remains in the strict city centre, where sales prices are also double the average.
The Ljubljana city centre recorded the highest number of contracts for the sale and purchase of flats, which is 509. This represents almost a quarter of all sales in Ljubljana. The most expensive new flat sold in 2023 was in Villa Schellenburg in the centre, a luxury new-build complex of residential units. With 350 square metres, it was sold for EUR 3.3 million.
Despite the high prices mentioned, the future development of more planned new-builds at more affordable prices will meet the needs of the market. Ljubljana offers a more stabilised market in 2024 as price growth is slowly coming to a halt.
The value of a flat generally depends on its conservation, quality, furnishing, additional value such as parking space, which is a rather scarce asset in the centre, and of course its location. Housing remains in demand whether it is new or lived-in before. However, new flats are needed because more people need housing than there is housing available, old or new. Construction is also set to increase in the future, with 6,500 new projects already on the drawing board.
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