SLOVENIA Law and Practice Contributed by: Blaž Ogorevc, Miha Štravs and Blaž Murko, Odvetniki Šelih & partnerji, o.p., d.o.o.
1. General 1.1 Main Sources of Law
investment within Central and Eastern Europe. The Slovenian legal framework is established, infrastructure well-developed, and the strate - gic location within the EU remains a strong suit. These factors offer a relatively low-risk environ - ment and collectively support Slovenia’s appeal among both institutional and private investors. Office and residential seem to have been the most active areas for transactions in 2024, espe - cially in Ljubljana, with a new office (DCB Mon - tana) being opened and two larger ones (Vilha - ria and Emonika) being constructed and several residential projects on their way or just opened. Other significant real estate deals in Slovenia in the past year are the sale of office buildings Severni Stolp and Tivoli, sale of shopping centre Planet Tuš on the coast, purchase of three retail centres in the Koroška area by the Czech fund ZDR as well as purchase of a retail chain KEA by Croatian Studenac. It is also worth mentioning that Mercator’s purchase of retail chain Tuš did not close and missed the long-stop date (did not receive the merger clearance in time). Due to past rising inflation, increases in interest rates and a lack of supply, the residential market was slow compared to the previous year, while prices still increased. However, with many pro - jects on the way and with activities of the State Housing Fund gaining momentum, this is likely to change in 2025 and, specifically, in 2026. By that time, it is also expected that over 40% of new residential developments in Slovenia will feature smart home technology. Although modern technologies in financial services, such as blockchain, decentralised finance and similar, are present in the Slovenian real estate industry, their impact cannot yet be considered as disruptive, nor is it expected to
Besides the Constitution of the Republic of Slo - venia, which lays down basic principles of private ownership, the main law governing real estate is the Law of Property Code, which prescribes the main rules regarding property rights. The Law of Property Code is supplemented by the Land Register Act and the Real Estate Cadastre Act, which govern real estate records. In addition to general sources of real estate law, certain specific laws govern particular types of real estate. Such laws include: • the Housing Act; • the Protection of Buyers of Apartments and Single Occupancy Buildings Act; • the Agricultural Land Act; • the Act on Forests; • the Water Act; • the Nature Conservation Act; and • the Cultural Heritage Protection Act. In a broader sense, rules relevant to real estate are also prescribed in the Spatial Management Act and the Building Act, which govern spatial planning and construction, as well as in general sources of civil law, such as the Obligations Code. 1.2 Main Market Trends and Deals In 2024, Slovenia’s real estate market contin - ued to perform in the context of global, regional and local macroeconomic indicators, EU-driven sustainability goals, and a – slowly but surely – growing need for legal and financial innovation. Despite broader uncertainties and the lingering effects of previous years’ inflation and interest rate volatility, Slovenia remains an attractive and comparatively stable destination for real estate
897 CHAMBERS.COM
Powered by FlippingBook