Bank of Greece reports a slowing of real estate prices decrease

Aug. 31, 2016

Bank of Greece reports a slowing of real estate prices decrease

At the end of the Q2 of 2016 the prices of apartments and houses in Greece fell by 2.7% compared to the same period in 2015. This is the smallest price drop since 2010. In the first quarter decrease of cost per square meter reached 4.7%. For the whole of last year house prices dropped by 5%.


In the Q2 of 2016 a price for new apartment (built 5 years earlier) fell by 3.3%, and apartments, built over 5 years – by 2.3%. A year ago, prices for new and old apartments fell by 5.5% and 4.6%. Athens housing has fallen in price on 2,4%, in Thessaloniki – 4% in large cities – 3.5%, other – 2.0%.


Market experts believe that the slowdown in the decline in property prices is a symptom of the gradual recovery of the market. In addition, in Q2 the economy level grew by 0.3%.

Based on the materials of greece.greekreporter.com

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