Growth in property transactions, price increases and cash buying, not with credit. This is how the housing market in neighboring Greece can be briefly described. The latest data show that only one in 12 homes is acquired with a mortgage loan. Last year, nearly 174,500 real estate transactions were concluded, which is an increase of 21% compared to 2022. Of these, only 14,621 were with a mortgage loan, as the loan was taken for the purchase or construction of a house, according to the data of the Kathіmerіnі newspaper.< /p>
Looking at the data from the bank survey, the four largest commercial banks report a decline in the number of mortgage loans granted. As of the second quarter of the current year, their portfolio amounted to EUR 25.5 billion. This is a decrease of 0.7% compared to the first quarter, when the amount was EUR 25.7 billion.
House prices in Greece rose by 13.4% in 2023. For comparison, in 2022 the increase amounted to 11.9%, according to the official data of the Bank of Greece.
The average offer value of homes in Attica is 2350 EUR/sq.m.
Property owners are also raising prices, with analysts pointing out that their demands are in no way in line with the reality of the real estate market at the moment.
You can see detailed statistics on average property prices in Bulgaria by cities and neighborhoods HERE