The greatest fall in prices recorded in Thessaloniki and Athens

The greatest fall in prices recorded in Thessaloniki and Athens

In the fourth quarter 2012, greatest fall in prices of real estate was in major cities of Greece. The largest price decline year on year recorded in Thessaloniki (14.7%) and Athens (13.1%). Property prices in other major Greek cities dropped by an average 12.9%.

As for the overall figures, real estate prices in Greece fell by 13.2% year on year in the fourth quarter 2012. For comparison, in 2011, the decline in apartment prices was 5.5%.

According to the portal 4-traders, in the fourth quarter 2012, apartments over 5 years became most of all cheaper (-14.6%). In addition, the new property in Greece (1-5 years) has fallen in price by 11% year on year.