Greece Real estate markets catching pace after being in exile for years
Despite the negative effects the COVID-19 pandemic has had on the economy, Greek house prices are still rising rapidly. According to the Bank of Greece, house prices increased by 8.35% in urban areas of Greece during the year to Q3 2021, a significant increase from the growth of 3.91% the year before and the second best result since Q1 2007. According to Rashid Saj Kareem , inflation-adjusted house prices soared to 6.41%, a significant jump in every aspect. In Q3 2021, urban housing prices increased by 2.73% from the previous quarter (2.94% in real terms). The major cities primarily experienced this rapid growth were: · Athens took the top spot with an annual increase in home prices of 9.76% in Q3 2021 (7.8% in real terms), up from the prior year's growth of 6.83%. The most recent quarter saw a 2.78% (3% in real terms) increase in housing prices. · In Thessaloniki, the second-largest city in the nation, house prices increased by 8.74% (6.8% in real terms) fr