Slovenia is experiencing a new surge in housing prices, putting increased pressure on buyers in one of the region’s most expensive and scarce real estate markets. According to data from Slovenia’s national statistics office and industry reports, real estate prices in the country have resumed active growth following a period of more moderate trends. Price increases are particularly noticeable in Ljubljana, along the coast, and in the most sought-after urban areas, where housing supply remains limited.
Official Slovenian statistics show that in 2025, housing prices rose by 5.8% compared to the previous year. At the same time, the number of transactions involving existing apartments in Ljubljana increased by approximately a quarter, indicating a return of buyer activity to the most liquid segment of the market.
According to market data, the median price of existing apartments in Slovenia in 2025 exceeded EUR 3,000 per square meter for the first time, reaching approximately EUR 3,200 per square meter. In Ljubljana, the median price rose to EUR 5,050 per square meter, and in the coastal region, to EUR 4,810 per square meter.
Eurostat also recorded an acceleration in price growth in early 2026. In the fourth quarter of 2025, Slovenia still showed a quarterly price decline of 1.1%, but in the very next housing market report, the country was among the EU leaders in quarterly growth: prices rose by 5.1%, one of the highest rates in the European Union.
The main reason for the growth is a chronic supply shortage. The Slovenian market suffers from limited new housing construction, complex planning procedures, high land costs, and a concentration of demand in Ljubljana, along the coast, and in tourist destinations. In a separate report, the OECD noted that Slovenia’s housing problems are linked to strong demand and insufficient supply, as well as rising construction and financial costs.
For buyers, this means a further decline in housing affordability. Slovenia has long been considered one of the most expensive real estate markets among the countries of the former Yugoslavia, and new data confirms that the gap between household incomes and apartment prices continues to widen. This is particularly true for young families and first-time homebuyers.
The housing price index in Ukraine for January–March 2026 stands at 117.2%, compared to 111.2% for the same period in 2025, according to the State Statistics Service (SSS).
According to its data, in the primary market, prices for housing accelerated their growth to 17.3% in the first quarter of 2026, compared to 14.8% in the first quarter of last year. At the same time, apartments in the primary market rose in price by 17.3%, and single-family homes by 16.4%.
In the secondary market, prices accelerated their growth to 17.1% in January–March 2026, compared to 9.3% during the same period in 2025. Specifically, apartment prices rose by 17.9%, while house prices rose by 15.4%.
According to the statistics agency, compared to the previous quarter, housing prices rose by 6.1%, with a 4.8% increase in the primary market and a 6.6% increase in the secondary market.
In the first quarter, apartment prices in the primary market rose by 4.2% compared to the previous quarter, while house prices rose by 7.5%. In the secondary market, prices rose by 5.9% and 7.8%, respectively, the State Statistics Service noted.
The State Statistics Service also compared current price figures with the annual averages for 2019. Thus, in the first quarter of 2026, prices for housing rose by 132.3%.
According to the State Statistics Service, housing prices rose by 12.8% in 2025 and by 12.7% in 2024.
As reported, an updated methodology for the state statistical survey “Changes in Housing Market Prices” has been in effect since the first quarter of 2026, which the State Statistics Service approved to comply with the requirements of European Commission (EU) Regulation 2025/1182 of June 17, 2025.
Foreign buyers have become the main driver of growth in Batumi’s residential real estate market: in April 2026, their share of apartment transactions reached 47%, approaching half of the total market. This confirms that Georgia’s largest Black Sea resort is increasingly transforming from a local housing market into an international investment hub.
According to data from the Recov.ge platform, 1,292 apartments were sold in Batumi in April 2026, which is 12.3% more than in April 2025, when 1,165 transactions were recorded. The total market volume for the month grew by 27.4% and reached $85 million.
This growth was accompanied by a noticeable increase in the price per square meter. The weighted average price in new Batumi developments rose by 11.3% year-over-year to $1,351 per square meter. Prices in the primary market rose by 15.2%, and in the secondary market by 9.4%. At the same time, demand is concentrated specifically in new and modern projects: sales in new developments rose by 12.3%, while interest in the existing housing stock declined by 5.4%.
The key driver of growth is foreign capital. Non-residents accounted for 90% of the net increase in the number of transactions in April. Leo Chikava, Head of Research and Data Analysis at Colliers Georgia, notes that the share of foreign buyers has remained stable in the range of 44–47% in recent months, and during certain periods, foreign buyers have already surpassed local buyers in terms of activity.
Batumi differs significantly from Tbilisi in terms of demand structure. In the Georgian capital, domestic buyers remain the main driving force of the market: according to Galt & Taggart, in a January survey of developers, Georgian buyers accounted for about 77% of primary sales in Tbilisi. In Batumi, the situation is reversed: foreign demand is much more significant, and the share of foreign buyers in the surveyed projects reached 52%.
Among the most active foreign buyers in Batumi are citizens of Israel, Russia, and EU countries, as well as buyers from Ukraine, Belarus, and other post-Soviet states. According to Global Property Guide, citing Galt & Taggart, in 2025, buyers from the EU and Israel each accounted for 13% of sales in the surveyed projects in Batumi, while buyers from Ukraine, Russia, and Belarus together accounted for 11%. The exact share of Ukrainians is not disclosed in this report.
In 2025, the Batumi market had already surpassed the $1 billion mark in total value of apartments sold, and the number of transactions reached 17,053, which is 14.7% more than the previous year.
For foreign buyers, Batumi remains attractive due to a combination of a relatively low entry price, its seaside location, a high proportion of new projects, rental potential, and a relatively lenient real estate purchase regime. Against this backdrop, the city competes not only with Tbilisi but also with resort markets in Turkey, Montenegro, Bulgaria, and Cyprus.
According to Serbian Economist, Montenegro has significantly tightened payment rules for real estate transactions: deals worth more than EUR 10,000 must now be processed through the country’s banking system. The new requirements are aimed at strengthening control over the origin of funds, combating money laundering, and increasing transparency in the real estate market.
The law applies to real estate transactions worth more than EUR10,000.
The key requirement is that payment for the transaction must be made from or to a bank account opened in Montenegro. At least one of the parties to the transaction must have an account with a Montenegrin bank. This means that the buyer can transfer funds from a foreign bank directly to the seller’s account in Montenegro, provided the seller has such an account.
If payment was made before the contract was signed, the notary will have to request a bank statement confirming the transfer. A simple statement by the parties that the payment has already been made will not be sufficient. This strengthens the role of notaries and banks as participants in ensuring the integrity of the transaction.
In effect, Montenegro is closing the door on informal payments in the real estate market, which has actively attracted foreign buyers in recent years. Violations are subject to fines ranging from EUR 3,000 to EUR 20,000.
For foreign buyers, the new rules mean they must verify the banking aspects of the transaction in advance. If the seller is a resident of Montenegro and has a local bank account, the buyer will generally be able to pay for the property via a SWIFT transfer from their foreign account. However, in more complex cases—for example, if the seller is a non-resident, the transaction involves a legal entity, or the parties wish to manage payments through the buyer’s account—it may be necessary to open an account at a Montenegrin bank.
In such cases, banks may request documents regarding the source of funds: proof of income, sale of assets, investment documents, or other sources of capital. This aligns with the general logic of European financial compliance, although Montenegro is not yet an EU member.
For the Montenegrin real estate market, the effect will be twofold. On the one hand, the new rules may complicate and slow down transactions, especially for non-residents who are accustomed to more flexible payment schemes. On the other hand, increased transparency may strengthen the confidence of banks, notaries, and foreign investors in the market, particularly against the backdrop of expectations regarding Montenegro’s accession to the EU.
Montenegro remains one of the most popular real estate markets on the Adriatic for foreign buyers. Demand is driven by buyers from Europe, Turkey, Russia, Ukraine, Israel, and the Balkans.
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In April 2026, foreign buyers accounted for 649 real estate transactions in Cyprus, or 40.3% of the total number of registered sales, according to the Cyprus Mail, citing data from the Cyprus Department of Lands and Surveys. A year earlier, foreigners accounted for 552 transactions, or 39.3% of the market.
A total of 1,611 real estate sales were registered in Cyprus in April, which is 15% more than in April 2025. From January to April 2026, total sales rose by 14% to 6,320 transactions, compared to 5,541 during the same period last year. Sales to foreigners over the four-month period increased to 2,693 transactions from 2,223 a year earlier.
According to data from the Cyprus Department of Lands and Surveys, among the registered sales contracts involving foreigners in April, 197 properties were purchased by buyers from EU countries and 452 by buyers from non-EU countries. For January–April, the figure stood at 872 properties for EU citizens and 1,821 properties for buyers from third countries.
Paphos remains the most active region in terms of foreign demand. In April, 84 properties were registered there with contracts from EU buyers and 141 properties from non-EU buyers. In Limassol, the figures were 33 and 151 properties, respectively; in Larnaca, 37 and 98; in Nicosia, 29 and 40; and in Famagusta, 14 and 22.
In long-term statistics, the British, Russians, Greeks, and Israelis lead among the largest foreign buyers of real estate in Cyprus. According to data submitted by the Cypriot Ministry of Interior to parliament and published by Open4Business, foreign buyers purchased more than 37,000 properties between 2021 and 2024. The United Kingdom ranked first with approximately 11,800 properties, Russia second with about 4,900, Greece third with about 4,700, Israel fourth with 3,900, and Lebanon fifth with 2,100 properties.
Ukrainians are also among the notable buyers of Cypriot real estate. In the 2021–2024 ranking, Ukraine is listed in 9th place among buyer countries, with Ukrainian buyers being particularly prominent in Limassol and Paphos. Exact quantitative data on Ukrainians is not disclosed in the published summary.
Recent data by nationality for the period from September 2024 to September 2025 confirms the dominance of British, Russian, Israeli, and Greek buyers. In Larnaca, Israelis were the largest group with 850 transactions, followed by Lebanese with 723 and British with 302. In Limassol, Russians led with 846 transactions, followed by Israelis with 571 and Greeks with 261. In Paphos, the British took first place with 890 transactions, followed by Israelis with 683 and Russians with 327.
The growth in foreign demand is intensifying the debate in Cyprus over housing affordability and the rules governing property purchases by third-country nationals.
Foreign buyers continue to play a significant role in Spain’s housing market, despite record price increases and a gradually intensifying political debate over housing affordability, according to data from Spanish property registries.
In the first quarter of 2026, foreigners completed nearly 25,000 housing transactions, accounting for about 14% of all sales in the country. This figure marked the fourth-best result in the history of the data series. Meanwhile, the average price per square meter in Spain reached a new all-time high of EUR 2,429 per square meter.
Despite a slight year-over-year decline of 3.2% in the number of foreign transactions, international demand remains steady. The majority of foreign buyers are EU citizens, accounting for 58.3% of such transactions. The largest groups of buyers in the first quarter were citizens of the United Kingdom (6.8%), the Netherlands (6.6%), Morocco (6.2%), Germany (6.0%), and Italy (5.5%). Buyers from France, Romania, and Poland also account for a significant share.
Geographically, foreign demand remains concentrated in tourist and coastal regions. The highest share of transactions with foreigners was recorded in Alicante—44.6%, Málaga—34.3%, the Balearic Islands—28.9%, the Canary Islands (22.8%), and Murcia (21.7%). This confirms that foreigners primarily purchase housing in areas popular for leisure, rentals, and migration.
This growth in demand is occurring against the backdrop of a general rise in housing prices. The average price of real estate in Spain rose by 8.9% over the year. Resale homes increased in price by 9.6%, while new construction rose by 6.9%. The most expensive regions remain the Community of Madrid—EUR4,407 per square meter, the Balearic Islands—EUR4,173, the Basque Country—EUR3,474, and Catalonia—EUR2,852. Among cities, San Sebastián leads the way at EUR6,154 per square meter, followed by Madrid at EUR5,428 and Barcelona at EUR4,922.
Mortgage lending is also supporting demand. In the first quarter, the number of mortgages rose by 15.2% year-over-year, and about three-quarters of housing transactions were financed with a loan. This shows that the market relies not only on buyers with cash on hand but also on the availability of bank financing.
Over the longer term, foreign demand also remains high. In 2025, foreigners purchased nearly 97,300 houses and apartments in Spain, setting a new record. Their share of total transactions was 13.8%, compared to 14.6% in 2024 and 15% in 2023.
Ukrainian buyers are also a notable presence in the Spanish market. According to data from Spanish notaries, in the first half of 2025, Ukrainian citizens completed 2,165 real estate transactions in Spain, setting a historic record for themselves. Idealista notes that Ukrainians joined the group of nationalities that purchased housing in Spain more actively in 2025 than ever before.
Separate statistics on Ukrainians show that their interest in Spain is linked not only to investment but also to relocation, temporary refuge, and long-term residency.
