Greece is the World Champion of Low Property Prices



AKINITAAt a time when there is an increase in the value of homes worldwide, the Greek housing market is going in the exact opposite direction — a huge drop.

According to IMF research, the indicator of global housing values increased to 127.4 units in the second quarter that ended in June 30, showing a rise in prices for a fifth consecutive quarter and reaching a high point since the last quarter of 2008.

The data is showing that the highest housing prices are observed in Hong Kong at 14.6% in the second quarter, in Ukraine at 11.7% in Philippines at 10%, in New Zealand and in Colombia at 8.8%.

In contrast, Greece along with Hungary and Netherlands are the countries with the largest fall of housing values, reaching almost 11%.


5 COMMENTS

  1. The title is deceitful… Having the sharpest drop in price does not mean to have low prices … Prices in Greece are still ridiculously high compared to its neighbors and the economic situation of Greece.

  2. The Taxing Authority’s presumed tax value of properties is not current with the downward trend of real-market values. Credit is tight, the economy slow and buyers are few and far between. In this instance to call Greece “The World Champion” is being insincere.

  3. Good point that the article’s title is deceiving. but comparing property prices in Greece to neighbours is off. Greece is a peninsula state in the European side of the mediterranean. We have some of the most beautiful beach properties on the planet in a warm weather climate. Property prices should be substantially higher than most of our neighbours.

    Its actually a good time to buy property in Greece. The prices won’t last forever at current levels

  4. Lol. We are also “World champions” in biggest non-war depression in modern history. Woo hoo! We are number one!

  5. Both of you are correct. I have a feeling Jean Boneau was talking about normal dwellings in towns, which were ridiculously over-priced. Therefore, a correction was needed. Prices on seaside resorts are a different matter.

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