Greece’s housing market remains depressed
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Greece’s property market remains depressed. House prices are still falling after almost six years of declines, albeit at a slower pace. Property demand remains weak. Construction activity continues to struggle.
In Athens, the capital and the country’s largest city, the average price of apartments plunged by 10.87% (-8.89% inflation-adjusted) in 2013 from a year earlier, according to the Bank of Greece. On a quarterly basis, house prices in Athens fell by 4.23% (-4.69% inflation-adjusted) in Q4 2013.
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