The Greek residential real estate market had a buoyant start in 2023, with house prices rising by a robust 14.5% y-o-y in Q12023.
Ηomeowners already paying a lower interest rate may be reluctant to move and refinance at a higher rate.
The euro area, still reeling from last year’s sharp spike in gas prices caused by the war, is set to decelerate sharply.
According to Savills total investment volume for the second quarter of the year will be around €33bn, will represent a 57% drop compared to the same period last year.
Compared with June of last year, sales were 18.9% lower. That is the slowest sales pace for June since 2009.
Compared with the first quarter of 2022, rents and house prices in the EU increased with a 2.9% rise in rents and a 0.8% increase in house prices.