The COVID-19 virus first appeared in Wuhan, the capital of Hubei province in central China end of 2019. Until today over 81,000 infections and over 3,200 deaths have been confirmed in China. The situation in China is calming down but the virus is spreading rapidly around the world. Its’ main center is currently in Italy. The virus is spreading across Europe and the number of infections is increasing in the US and South America. Countries are taking swift actions to contain the spread of the virus and thereby stopping public life while at the same time preparing measures to help state economies.
In Slovenia the first case of COVID-19 infection was confirmed on 4th March 2020, and more than 900 cases have been confirmed to date. On March 16th kindergartens and schools closed their doors. Since then measures to contain the spread of the virus have intensified. Movement and gathering of people in public places are forbidden, restaurants, hotels and non-food shops are closed, air traffic is being stopped and measures are intensifying. In parallel to containment measures the government has already taken several measures to limit the consequences for employees, businesses, sole proprietors and farmers. Companies in sectors such as tourism, hospitality, entertainment and air transport are particularly affected.
Most of us are wondering how will the epidemic affect the economy and the real estate mareket.
This situation won’t affect all real estate markets the same. Some segments will be affected more, others less. While the real estate market is most evolved in Ljubljana, we were wondering how the supply and demadn will be affected in different segments.
Final scope of the consequences will heavily depend on the duration of the epidemic and the measures that will be taken.
We analysed the effects that this situation will have on the Slovenian market.
You can read the whole report here: Impact of COVID-19 on the real estate market_Slovenia