Greek house price falls continue
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Greece continues to endure double-digit year-on-year house price falls, with the Greek economy facing its sixth year of recession. It is expected to contract by another 4.2% during 2013.
In Athens, the capital and the country’s largest city, the average price of apartments plunged by 12.6% (-12.6% inflation-adjusted) during the year to end-Q1 2013, according to the Bank of Greece. During the latest quarter, i.e., quarter-on-quarter during Q1 2013, house prices in Athens fell by 2.6% (-0.6% inflation-adjusted).
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