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Nominal apartment prices down 0,2% in 1Q2018

12 June 18 - RE+D Magazine
Nominal apartment prices down 0,2% in 1Q2018

COMPANIES

ΕΡΡΙΚΟΣ ΑΡΩΝΕΣ

Investment - GREECE

PEOPLE

Nominal apartment prices fell marginally by 0.2 pct on averge in the first quarter of 2018, compared with the same period in 2017, the Bank of Greece said on Tuesday.

 

The central bank, in a report, said that according to revised data, the average annual rate of change was -1.0 pct in 2017 (Q1: -1.9 pct, Q2: -1.0 pct, Q3: -0.8 pct and Q4: -0.4 pct), compared with -2.4 pct in 2016.

More specifically, in the first quarter of 2018, the prices of “new” apartments (up to 5 years old) declined marginally by 0.1 pct year-on-year and the prices of “old” apartments (over 5 years old) also fell marginally by 0.3 pct year-on-year.

According to revised data, the prices of “new” apartments declined by 0.8 pct on average in 2017, against a decline of 3.0 pct in 2016, whereas “old” apartment prices declined by 1.2 pct in 2017, against a drop of 2.0 pct in 2016.

According to regional data, in the first quarter of 2018 apartment prices are estimated to have declined marginally by 0.1 pct year-on-year in Athens, 0.3 pct in Thessaloniki and in other cities and 0.4 pct in other areas of Greece.

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