Theologos Real Estate

MARKET OVERVIEW

A severe recession compounded by a national debt crisis has had a profound impact on Greece’s real estate market. Property prices have dropped an average of 35 to 50% since their peak in 2008.

About 150,000 properties were sold annually in Greece from 2002 to 2008 but in 2011 only 11,000 properties were sold. Market shrank by 95 percent and Greece is therefore the perfect buyers’ market, as prices can now be negotiated and cash buyers are kings.

 

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