Greek Housing Market Faces Price Decline
Real estate experts are anticipating a potential downturn in housing prices in the coming months, contingent upon the stability of the current economic climate. Key factors driving this projected development include a gradual decrease in foreign direct investment in the housing market, forecasted to begin in the latter half of 2024, and tighter access to bank loans for many prospective domestic buyers. Analysts point out that the anticipated decline in demand is not necessarily due to waning interest in property ownership, particularly among Greek nationals, but rather stems from soaring prices that have rendered many properties financially inaccessible. The market has witnessed successive multi-million-euro investments in real estate over recent months, with new residential and tourist developments cropping up from the northern suburbs to Sounio and along the Athens Riviera.
Tags : Real estate experts housing prices foreign direct investment Greek nationals property investments tourist Sounio Athens Riviera