Thes­sa­loniki’s res­i­den­tial prop­erty prices down 45 pct since 2009

Kathimerini English - - Focus -

drop in res­i­den­tial prop­erty prices in Greece in the pe­riod since 2009 was ob­served in Thes­sa­loniki, ac­cord­ing to Bank of Greece fig­ures, which showed that the de­crease came to 45.2 percent, against 43.5 percent in Athens and 41.3 percent na­tion­wide. House prices in Greece fell 5 percent on an an­nual ba­sis in the first quar­ter of the year, Euro­stat data showed on Tues­day, while the only other Euro­pean Union mem­bers to en­dure a price de­cline in the Jan­uary-March pe­riod were Italy and Cyprus, both on 1.2 percent. BoG ex­pects the down­ward trend to con­tinue in the next few quar­ters, al­beit at a slower pace.

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