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.