Real estate agencies surveyed by the Bank of Greece, are showing solidarity in the opinion that the prices are not too high or too low, and the market has entered a phase of stabilization, reports ee24.com citing company Alpha Ermis Real Estate. Optimism of market professionals has been growing with every quarter.
Most experts believe that property prices in Greece are proper and realistic, not too low and not too high (62%). Each third of the survey participants say that prices are underestimated (32%). Few realtors claim that prices are slightly inflated (6% versus 40% in Q1 2013).
77% of respondents agree that situation in the market has stabilized. 64% of the experts notice that prices remained unchanged in Q1 2014 compared with Q4 2013. At the same time, all survey participants state that property in Greece has become cheaper by 13-22% year on year.
Expectations are positive: 55% give a good forecast, 43% give a stable forecast, and only 2% believe in negative pace of development. One third market players are waiting for higher prices (34%), but about the same number experts argue the opposite thing (28% vs. more than 50% in various quarters of 2013).