Res­i­den­tial prop­erty rates pro­jected to start re­cov­er­ing in two years’ time

Kathimerini English - - Focus -

res­i­den­tial prop­erty mar­ket will not re­cover be­fore 2019, when prices are ex­pected to rise by just 0.8 per­cent on an an­nual ba­sis, ac­cord­ing to the lat­est yearly sur­vey by Eurobank Prop­erty Ser­vices. The com­pany’s an­a­lysts fore­cast that, un­less any un­fore­see­able po­lit­i­cal or eco­nomic de­vel­op­ments take place, the drop in prices will con­tinue to slow down this year and re­main largely sta­ble in 2018, be­fore re­vert­ing to a ris­ing course in 2019, no less than 11 years af­ter the last time home prices posted an in­crease, in 2008. A vi­tal con­di­tion for this re­cov­ery is that the econ­omy ful­fills ex­pec­ta­tions for an end to its con­trac­tion and starts grow­ing again.

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