Greece's recession-battered real estate sector is showing faint signs of recovery, according a nationwide study by an association representing realtors and certified property assessors in the country.
Greece's recession-battered real estate sector is showing faint signs of recovery, according a nationwide study by an association representing realtors and certified property assessors in the country.
The study, presented during a conference by the same association (EPPA) in Thessaloniki, shows that a vast majority of residences up for sale in Greece are older structures, with most would-be buyers also being Greek citizens. German and Serbian buyers are reportedly focusing on northern Greece.
Based on the study, 68 percent of properties purchased in the first half of 2018 remained unsold for a lengthy period of time; 32 percent of transactions were properties sold within six months of their first sale notice.
The study was based on a sample of 138 transactions across Greece, with 84 percent of the latter conducted on a cash basis.