Thursday, 29 June 2017 14:59

    Greece has the most affordable homes in Europe

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    The Greek homes market has the lowest rates among 18 European countries according to an international survey by the RE/MAX Europe network of estate agents.

    In 2016 a 100-square meter apartment in a Greek city cost 92,200 euros on average, or 922 euros/sq.m., while outside urban areas the average price of a house of the same size stood at 67,000 euros (670 euros/sq.m.).

    The price of city residences endured a further decline from 2015, when the average had come to 940 euros/sq.m. while country homes posted an increase from 650 euros/sq.m. in 2015. That increase reflects the increased buying interest in holiday homes last year.

    For this year RE/MAX stresses that the residential property market is expected to stabilize as a result of the attractive sale prices, the increase in domestic demand and some signs of growth in the Greek economy. The intention of the banks to issue some mortgage loans, if under strict conditions, could also make a positive contribution.

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