The Greek real estate market is hot, but the prices are not affordable to wide public: are property prices expected to decline?

The forecast

Real estate market experts anticipate a modest decline in housing prices in the upcoming months, contingent upon the continuation of the present economic conditions.

The reasons

• Gradual reduction of foreign direct investment in the housing market, expected from the second half of 2024,
• Higher threshold for accessing bank loans for most potential local buyers.

In other words, demand is expected to lag. But not because purchasing interest has decreased, but because prices have risen to such heights that most of the properties on sale are unaffordable.

Source: Ekathimerini

Photo by Dimitris Kiriakakis on Unsplash

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