Diplomatic Real Estate Market in Slovenia
While the real estate market in Slovenia has proven to be everything but recession-proof, the construction sector remains worried it will take time for full-recover. Foreign diplomats are taking advantage of the current state of the market and investing in properties that are significantly reduced in price. As with any economy, it is expected to take years before the Slovenia housing market rebounds from the current economic crisis. For those with the money and the status this issue is not a concern. Diplomatic real estate Slovenia is increasing in not only in inquiries but also in sales with the premise that homes can be purchased for a good value.
With a number of overpriced properties that remain vacant for the last two years, prices are beginning to decline and promote a higher amount of sales for homes priced under 150,000 EUR as well as higher-end homes. Prekmurje is one of the areas in Slovenia which has seen a high increase in demand recently and has become a hotspot for diplomatic real estate investments. For diplomats working in Ljubljana, Gorenjska has also become an attractive area as the commute averages only 40 minutes yet it is far enough away to escape. This commutability factor is increasing interests and having a great impact on the market.
With direct flights available to Tel Aviv, Israeli foreign diplomats have taken an interest in Slovenia real estate as well. Wanting to live near the coast or around lakes and mountains, the value priced real estate remains attractive on Israeli radar. With financing becoming a large issue in funding home mortgages, diplomats are likely expected to pay out of pocket or put down a large down payment. This is not a huge issue for those looking to invest for profitability in the future. While consumers are struggling, foreign diplomats are taking advantage of the current state of Slovenia real estate.
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