Thessaloniki suffers biggest drop in property prices around Greece

Apartment prices fell by an annual 4.3 percent in the third quarter after retreating 4.7 percent in the April-June period, according to the Bank of Greece. The central bank said yesterday the price drop for apartments up to five years old reached 5.2 percent versus a 3.7 percent dip for older apartments. On a geographical basis, Thessaloniki saw the largest fall in prices, reaching 9.7 percent year-on-year, followed by a 5.9 percent drop in ‘other large cities,’ and 3.1 percent in Athens.