this post was submitted on 20 Jun 2023
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Housing Crisis

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Real estate prices reaching record highs (www.ekathimerini.com)
submitted 1 year ago by MercuryUprising to c/housingcrisis
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The rate of house price growth is continuously exceeding record highs, according to data compiled by the Bank of Greece for the first quarter of this year. Indicatively, prices rose 14.5% year-on-year in Greece as a whole, with even higher increases in the two biggest urban centers, reaching 16.5% in Attica and 16.1% in Thessaloniki...

... In addition to domestic demand, Attica’s sharp price increase during the first quarter of this year is undoubtedly attributable to the fact that it is a major target for foreign investors.

This year there has been an especially abnormal increase in foreign investment through the Golden Visa program, due to the upcoming changes, which will make it more difficult to obtain a residence permit.

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