PROPERTY

House prices grow steadily, while salaries stay put

house-prices-grow-steadily-while-salaries-stay-put

Residential property prices will continue to rise steadily in the next few years, although the excesses of the past will be avoided, according to the real estate professionals who addressed the Prodexpo conference in Athens on Tuesday.

Berkshire Hathaway HomeServices Athens Properties head Kyriakos Xydis said, “Price growth will continue at single-digit rates for the next five to seven years.”

Geoaxis chief executive Giannis Xylas pointed out that major changes are coming in house selection and construction, “as house prices are growing much faster than salaries: In the last 20 years the basic salary has stayed put while apartment prices jumped 57%.”