ECONOMY

Greek housing market posts second fastest drop in EU

greek-housing-market-posts-second-fastest-drop-in-eu

Greece continues to be one of the worst performers in the European housing market, as Eurostat data for the third quarter of 2015 showed on Wednesday that the local residential market is dropping at the second fastest rate among all European Union countries.

Just five EU states posted a decline in Q3 last year, with Bank of Greece data showing that this country experienced a 6 percent annual drop, second only to Latvia’s 7.6 percent slide.

The biggest rise was recorded in Sweden’s housing market, amounting to 13.7 percent year-on-year.