While the official state data on number and value of real estate transactions during COVID-19 epidemic in Slovenia won’t be available for several months, we decided to do an analysis of the data we selected for the purpose of valuations.
We wanted to determin whether the epidemic with all states measures impacted the sales values of residential real estate during restrictions from March 13th until May 15th. To see how the market was affected we made a comparison between actual sales prices and valuation values of the same real estate not incorporating any discounts due to corona virus. All data was selected by our valuation department.
The analysis showed that at this time, we can conclude that the epidemic of COVID-19 first stopped all market activities and the number of transactions decreased significantly. From end of April when the ban on brokerage services was lifted the number of transactions has started to increase. Monthly number of transactions is still lower than before the epidemic however we can see the market picking up.
The transactions we have at our disposal showed no indication of an overall decrease in residential property prices. Which is also a common finding among most real estate agents across Slovenia. Until now, we also didn’t detect any transactions that would suggest fire-sale prices.
The findings in this analysis are consistent with predictions in the report NAI Significa prepared about the impact of COVID-19 on Slovenian real estate market that was made public on April 12th.
You can read the whole analysis here: Impact of COVID-19 eipidemic on residential market