Monday, 13 October 2025
Slovenia’s property market showed resilience through the first half of 2025, with steady activity across offices, retail, logistics, hotels and residential. Investment volumes remain modest, but several notable deals confirm continued investor interest in a small but active market.
In the Ljubljana office sector, prime rents edged around €20 per square metre per month, with vacancy staying exceptionally low at below three percent. No new schemes were completed in the first half, though a significant pipeline is moving forward. The largest projects include the Vilharia development of more than 30,000 square metres, the WestLink Campus, and offices within the long-delayed Emonika complex, now scheduled for delivery in late 2027. Market watchers estimate that roughly 90,000 square metres are in progress, underscoring the capital’s role as the focal point for occupiers and investors alike. “Ljubljana’s office market remains supply-constrained, with occupiers competing for modern space and developers focusing on a handful of landmark projects,” noted Colliers in its H1 2025 market review.
Retail remains highly developed and competitive, with activity dominated by established shopping centres and retail parks. The most prominent transaction was SES’s acquisition of the Arkadia Retail Park in Domžale. Consumer spending has been buoyed by rising wages, while retail turnover recorded a modest year-on-year increase. The Emonika project also includes a 22,000 square metre shopping component, which is expected to further reshape the retail landscape when it opens in 2027. CBRE has observed that Ljubljana’s retail market continues to show stable prime rents and yields, with new development opportunities limited, reinforcing the importance of landmark projects like Emonika.
Logistics continued to benefit from strong occupier demand, particularly around Ljubljana and at key motorway junctions. Vacancy stayed low at under five percent, while prime rents ranged from €6.5 to €8 per square metre, with the best locations achieving higher levels. The delivery of LOGspot in Logatec added more than 26,000 square metres of modern warehouse space, while further schemes are planned near Brnik airport and in Sežana. Cushman & Wakefield described Slovenia’s logistics segment as “one of the most undersupplied in the CEE region,” highlighting the potential for new development despite rising construction costs.
Tourism maintained its upward trend, with arrivals rising by about eight percent in the first half and overnight stays reaching nearly seven million. Foreign guests accounted for more than two-thirds of the total. Hotels absorbed more than half of all overnight stays, supported by both business and leisure demand. New capacity is planned at Ljubljana’s main station as part of the Emonika development, alongside a hotel project at Brnik airport.
Residential remained active, with more than 2,500 transactions in the first quarter valued at approximately €420 million. Prices were up just over three percent year on year, driven by gains in existing apartments, while new units saw a slight decline. Permits for new dwellings fell compared to last year, suggesting future supply could tighten.
On the investment side, transactions totalled about €75 million in the first half. Ljubljana accounted for nearly two-thirds of activity, with average deal size around €18 million. In addition to SES’s Arkadia purchase, Generali sold the Stekleni Dvor and Tivoli Centre office towers to Serbia’s Agromarket, while SPAR expanded its logistics capacity near its Ljubljana headquarters.
Yields across all major asset classes remain comparatively high, with prime offices and retail around seven percent and hotels slightly higher. While Slovenia’s investment market is small and often dominated by local or regional buyers, the pipeline of new developments and ongoing occupier demand underline the sector’s stability.
