BUSINESS

Greece remains the worst performing property market in the EU

NIKOS ROUSSANOGLOU

TAGS: Property

Greece remains at the bottom of the European property market regarding the course of prices after the second quarter of the year, according to data issued on Wednesday by Eurostat.

All European Union member-states saw an increase in property rates this year, with the exception of Greece – where, according to the country’s central bank, prices dropped 1.2 percent – and Italy – where rates edged 0.2 percent lower year-on-year.

The total drop in property prices in Greece from 2008 to end-June 2017 averaged at almost 43 percent.

In Athens the decline exceeded 44 percent and in Thessaloniki it came to 46.5 percent.

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