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Bank of Greece : 2.9% drop in home prices in Athens
Bank of Greece : 2.9% drop in home prices in Athens in first half

Reduction of 2.9% recorded to house prices in Athens in the first half of 2009, according to the biannual survey by the Bank of Greece. According to the evidence, second quarter prices fell by 4.4% from 1.4% decline in the first quarter. Note that in the second quarter, nine out of 10 major brokerage firms surveyed (91%) believe that buying and selling real estate is slightly more than three months ago.

According to the Bank of Greece:
95% of respondents considered that house prices are the same in the second quarter compared with three months ago.
Real estate agents are divided in regards to their predictions on the state of the housing market next quarter. The 49% considers that will move worse and 47% at the same level as the previous quarter.
Finally, the overwhelming percentage of 98% of large real estate agencies estimate that housing prices will remain the same and the next quarter while only 2% expect a slight decrease.

Source: Sofokleous



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