Rising Prices, Fewer Sales: Data Shows Greek Real Estate Losing Momentum
Many property owners, encouraged by the sharp appreciation of recent years, believe they can sell decades-old apartments at prices similar to those of new builds. Greece's once-buoyant property market has hit a slowdown, weighed down by inflated asking prices that have driven buyers to the sidelines. Despite a 9% rise in average sale prices over the past eight months, revenue from property transfer taxes has dropped by 4%, signaling a sharp fall in transaction volumes. The figures reveal a market trapped in stagnation: homeowners are clinging to unrealistic price expectations, while prospective buyers increasingly walk away. Much of the problem stems from sellers overestimating the value of older homes. Many property owners, encouraged by the sharp appreciation of recent years, believe they can sell decades-old apartments at prices similar to those of new builds. They often cite desirable locations or the "quality materials" of past...
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