Greek real estate market shows signs of recovery, RE/MAX survey

Greek real estate market shows signs of recovery, RE/MAX survey

The Greek real estate market has begun showing signs of recovery, leaving the worst of the crisis behind, as citizens are increasingly showing more confidence in the real estate market - once the steam engine of the economy - RE/MAX Greece said in a nationwide rental survey released on Tuesday. The survey showed that rental prices were up 8.4 pct throughout Greece compared with the same period last year, reflecting lower inventory of available homes and short-term leasings. The most popular house for rent is a two-bedroom apartment up to 20 years old, recently renovated. Demand for rentals rose in all cities. In Attica rental prices grew 6.9 pct, in Thessaloniki prices rose 14.4 pct and in regional Greece prices rose 7.1 pct (although price increases varied significantly from city to city). There were no price decreases anywhere in Greece. In Patra and Volos, rental prices rose 15 pct, in Sparti prices rose 14 pct and in Alexandroupoli prices rose 17 pct. Prices rose 2-7 pct in cities like Kavala, Karditsa, Xanthi, Lamia and Corinth and remained unchanged in Larisa and Ioannina.

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