There has been a lot of change in the real estate market in recent years. Similar to other countries and regions, the residential real estate market in the Podravska region has also been struggling with the post-crisis recovery. I was interested in the happenings in this area in recent years and whether the Podravska region residential real estate market has recovered. With the help of statistical analysis, I discovered the trends in supply, and prices as well as the number of sales in the wider Podravska region, together with Maribor and its surrounding areas. I compared Maribor, the urban center of the Podravska region, with two other major regional centers, namely Ljubljana and Murska Sobota. I found that the Podravska residential real estate market has indeed recovered after the global economic crisis and that both the prices and the number of sales in all the compared municipalities, or rather, regions, were increasing. The residential real estate market in Ljubljana, which has the highest turnover, was the fastest to recover. In all the compared areas, prices were found to be higher in urban centers and gradually decreased with distance. In Ljubljana, the average selling prices for apartments and residential houses are double the price of similar real estate in Maribor, which in turn are slightly higher than those in Murska Sobota. When it comes to residential houses, increasing the distance from the urban centers also results in increased square footage of the property. The number of primary residential properties has been declining from 2014 to 2018, as construction projects, halted during the crisis, were all completed and sold. In 2018, however, the construction of new multi-dwelling buildings, sets of row houses and luxury neighbourhoods commenced again. In 2020, the Covid-19 epidemic appeared in the world and in Slovenia and state measures to contain it also had a significan impact on the real estate market.
|