BUSINESS

Residential property rates projected to start recovering in two years’ time

NIKOS ROUSSANOGLOU

TAGS: Property

The Greek residential property market will not recover before 2019, when prices are expected to rise by just 0.8 percent on an annual basis, according to the latest yearly survey by Eurobank Property Services.

The company’s analysts forecast that, unless any unforeseeable political or economic developments take place, the drop in prices will continue to slow down this year and remain largely stable in 2018, before reverting to a rising course in 2019, no less than 11 years after the last time home prices posted an increase, in 2008.

A vital condition for this recovery is that the economy fulfills expectations for an end to its contraction and starts growing again.

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