Since the beginning of the crisis, the price of holiday homes at popular Greek winter destinations have been decreased by 52 percent.
According to Kathimerini, a research of certified appraisers from the company Geoaxis shows that about 10,000 holiday homes are still unsold.
The demand is almost non-existent and in line with official data from notarial associations. The number of purchases and sales records an average annual rate of decline of 28.2 percent from 2007 until the end of 2012.
According to Geoaxis, there is a similar downward trend in property values. The values at popular winter destinations such as Arachova, Agios Athanasios, and Karpenissi records a drop of 44 percent on average, compared with the highest point at which they were found in 2008.
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