House prices plummet

first_img Facebook Twitter: @NeosKosmos Instagram Property prices fell by 11.6 per cent from April to June, compared to the same period last year, bringing the reduction this year to almost 23 per cent, says the Bank of Greece this week. The prices are continuing to fall amid rising unemployment and a fall off in demand with the reduction since the beginning of the year reaching 22.9 per cent. According to data released by the central Bank of Greece, prices fell by 11.6 per cent from April to June, compared to the same period last year. Athens has seen the biggest drop, with prices down 12.7 per cent in the second quarter. Thessaloniki registered a 10.5 per cent reduction, other large cities a 11.5 per cent fall and the rest of the country 10 per cent. The number of property transactions involving loans from financial institutions fell to 4,500 in the quarter, down from 5,600 in the previous three months and down 35.3 per cent on the same period last year. Source: EnetEnglish, ANA-MPAlast_img read more