BUSINESS

Decline of house prices eases in Q3 to 0.6 percent

NIKOS ROUSSANOGLOU

TAGS: Property

Residential property prices across Greece are reverting to a more stable course after the acceleration of the decline recorded over the first quarter of the year due to uncertainty over delays in the second bailout review.

The data released on Thursday by the Bank of Greece for the third quarter of the year showed a 0.6 percent drop on an annual basis, against decreases of 1.7 percent and 1.2 percent in Q1 and Q2 respectively.

Newly built homes in particular saw their prices fall 0.5 percent year-on-year, while those aged five years or more endured a 0.7 percent drop.

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