SLOVENIA Trends and Developments Contributed by: Blaž Ogorevc and Miha Štravs, Šelih & partnerji, o.p., d.o.o.
urban areas, which limits the potential for new retail projects of similar scale. A bit lower on the food chain, however, retail parks and grocery-anchored retail schemes remain particu - larly attractive to investors due to their stable tenant structures and predictable income streams fuelled by accessibility and good parking capacity. Vacancy rates in prime shopping centres remain rela - tively low, and investor interest continues to focus on well-located assets with strong tenant mixes. Con - sumer spending has gradually recovered following the COVID-19 pandemic, supported by rising wages and relatively stable employment levels. Despite the con - tinued growth of online retail, physical retail remains an important component of Slovenia’s consumer land - scape. In particular, retail formats that combine shop - ping with leisure and entertainment experiences are gaining popularity. Mixed-use developments combining retail with resi - dential and office components are rare but might become increasingly important for urban develop - ment strategies. One such project that spearheads the market is currently under development. Emonika com - plex in Ljubljana will include retail and leisure facilities alongside residential and office spaces. Industrial and Logistics Slovenia’s location, along major European transport corridors and the strategic role of its port, support strong demand for logistics and distribution facilities. The Port of Koper, specifically, plays an important role as a gateway for cargo entering Central and Eastern Europe from global shipping routes. Efficient connec - tions between the port and inland transport networks make Slovenia an attractive location for logistics oper - ators serving neighbouring markets such as Austria, Hungary and southern Germany. Prime logistics rents in the Ljubljana region generally range between approximately EUR7 and EUR10 per square metre per month. Demand is particularly strong for modern warehouse facilities capable of support - ing automated logistics operations and e-commerce
distribution, while the number of suitable properties is limited. Nonetheless, several logistics developments have recently been completed or are currently under con - struction, particularly in locations close to Ljubljana, the Ljubljana airport and along the Koper-Ljubljana- Maribor axis. Growing demand for last-mile logistics facilities is also driving development near urban cen - tres. Developers are increasingly integrating sustainability features into logistics projects, including solar energy systems, electric vehicle charging infrastructure and energy-efficient building technologies. The logistics and industrial sector continues to be one of the strongest-performing segments of the Slove - nian real estate market, but, in order to remain in this position, changes are required. Specifically, on the industrial part, more efforts should be made towards revitalising degraded areas near major urban centres instead of looking into re-zoning agricultural land. Hospitality and Tourism Real Estate Tourism remains an important driver of real estate development in Slovenia. The country continues to experience strong tourism demand supported by its reputation as a sustainable tourism destination and its diverse natural landscape. International visitors represent a significant share of tourist arrivals, with Germany, Italy and Austria among the most important source markets. Hotel accommo - dation continues to account for the majority of over - night stays. Several hotel projects are currently planned or under development, including new hotels within the Emon - ika mixed-use project and a hotel development near Ljubljana Airport, which will add capacities to other well-established or recently opened hotels. A nota - ble market trend is that foreign investors increasingly seek already developed facilities with limited addi - tional capital expenditure requirements, or prefer to lease existing properties, allowing them to leverage their experience in hotel management and opera -
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