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Friday, June 03, 2011
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The June's Café International was presenting the overview of the real estate market in Slovenia, and it outlined the opportunities and pitfalls in residential, hospitality, office, retail and industrial real estate, viewed from different perspectives: business, law and financial. It took place on June 1st at our usual meeting place Kavarna “KavaČaj” Slamič, organized and moderated by SDBP member Jacqueline Stuart, head of Slovenia Invest, the only commercial real estate company in Slovenia.
The other speakers were experts in different fields:
-Ana Filipov, law expert in real estate and dispute resolution, working as a partner of Filipov, Petrovič, Jernaj, Fabiani d.o.o.,
-Claire Moger, director of tax at PricewaterhouseCoopers Slovenia,
-Žiga Vižintin, licenced broker at Slovenia Invest
-Tina Žejn working in coporate and project financed unit at Unicredit Bank Slovenia
The evening started with disscussion of what each investor would like to know-the key trends. Office estate was pointed to be not so desirable for investment in these times, but from the other side with real opportunities for businesses to renegotiate agreements or move to better quality space. Quality of retail space was pointed to be still poor and due to the limited supply, without appreciable drop in prices. The impact of the new entrants Stožice, Emonika and Interspar is still a ’hot topic’, for which the outcome is hard to predict due to the dumping price ability of BTC. Hospitality sector is still struggling with financial problems, although the tourism is becoming an important aspect of GDP and that tourism trends are not extremely affected by the crises (due to the increase of ’staycationars’). The industrial rental market is yet to be developed, currently not meeting the modern occupiers’ requirements. The prices and transaction levels in residential space are stable, rental yields are low and rents are dropping.
The evening ended with several key discussions and conclusions:
-There is a lot of uncertainty on the real estate market in Slovenia, which comes mainly from the lack of information. Push from all aspects: buyers, sellers, investors, should be made for more transparent access to information.
-A smart decision would be to invest where there is limited supply, which cannot be increased in the near future.
The presentation of the event is available at: www.sloveniainvest.eu, clicking on Company, and furher on Media.
Of course the informal part of the evening ended in pleasant atmosphere with several drinks and exchange of ideas, contacts, experiences and opportunities for cooperation. It was an event you shouldn’t miss!
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