Home prices finally start to improve

Home prices finally start to improve

The first tangible signs of recovery in the Greek housing market were recorded last year, according to the latest survey by the RE/MAX Hellas network of estate agents, which showed prices had risen 1 percent on average compared to 2016.

Newly built homes (up to five years old) across the country saw their prices increase 1 percent, while for older ones the growth amounted to 1.1 percent.

In Attica, which has seen major investment interest in properties suitable for short-term rental, as advertised on home-sharing platforms such as Airbnb, the biggest price increases are to be found among older houses and apartments – up 1.2 percent year-on-year. In contrast, new properties saw a 0.3 percent decline.

In most other parts of Greece it was the other way round, with no change in the prices of older properties and a 1.6 percent rise in those of new homes. In Thessaloniki, though, older properties saw a 1.1 percent price increase and newer ones a 1 percent rise, RE/MAX data showed.

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