Alpha Bank experts believe that property prices in Greece will continue to decline in H2 2014, but stabilization may occur in the next year, according to ee24.com citing ekathimerini.com.
Significant decline in prices in H1 2014 indicates that the negative growth will be seen as a result of the whole year. It could reach 6.3%. "The prospects of apartment prices stabilizing are significantly strengthened from 2015, particularly if the forecast for real GDP growth of 2.9% proves correct," as written in a weekly economic bulletin of the Bank.
The number of transactions continued to decline, because no one wants to miss out on the benefits. Sellers are not in a hurry to sell, feeling that prices have reached bottom and may soon go up, and buyers are in no hurry to buy, expecting that prices will drop a little more. Process from putting property on sale prior to the transaction takes one year, although in 2009 it took 5 months.