Greek house prices continue to slide
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Residential property prices in Greece continue to plunge, with the Greek economy enduring one of the worst crises in its history. Greece is already on its fifth year of recession, with the economy expected to contract by 7% in 2012.
The average price of apartments in Greece plunged by 9.83% y-o-y to Q1 2012, according to the Bank of Greece. When adjusted for inflation, property prices actually dropped by 11.62% over the same period.
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