Crises, protests and reforms in Greece
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House prices in Greece continue to fall. The economy is going through one of its worst crises in history.
The average price of apartments in Greece fell 4.3% y-o-y to Q3 2010, according to the Bank of Greece. Over the same period, in Athens average prices fell 3.1%. In Thessaloniki (the second largest city) prices fell 9.7%, 5.9% in “all other cities”, and 2.7% in “all other areas”. New apartments (up to 5 years) suffered steeper price falls than old apartments (5 years or older), -5.2% versus -3.7%.
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