ECONOMY

Greece enters list

DUBLIN – Research and Markets has announced the addition of Mortgages in Greece 2006 to their offering. The Greek residential mortgage market has grown significantly over the last few years, driven by strong house price growth and falling interest rates. The Greek economy has grown steadily in the past few years, recording on average more than four percent in GDP growth from 2001 to 2004. This growth has mainly been driven by an expansion in investment and infrastructure renovation, as a result of the 2004 Olympic Games in Athens. The growth in supply of new dwellings from 2001 to mid-2003 has led to weaker growth in house prices in 2003. Moreover, private building activity as measured by the volume of construction permits rose by 13.1 percent on a yearly average during this period, as opposed to a 10-year average of 4.2 percent.