The cost of Greek apartments decreased by 0.3% year-on-year in the fourth quarter of 2017, while for the whole last year the price drop was 1% compared to 2.4% in 2016, according to the report of the Central Bank of Greece. In particular, in the fourth quarter of 2017, prices for both new (up to 5 years) and for old apartments (over 5 years) declined not so rapidly - only by 0.3% compared to the same period of the previous year. For the entire 2017, prices for new buildings fell by 0.8% compared to 3% in 2016, old residential units fell 1.1% in 2017, compared to 2% in 2016, the Bank of Greece said.
In the fourth quarter of 2017, apartment prices fell by 0.1% in Athens, by 0.6% in Thessaloniki, by 0.4% in other cities and by the same number in other regions of the country. For the entire year 2017, the cost of apartments fell by an average of 0.9%, 1.4%, 1.3% and 0.8% respectively in the above places.
If we talk only about Greek cities, then in the fourth quarter of 2017, apartment prices slightly decreased - by 0.3% compared to the same period last year. And for the entire year of 2017, the decline was 1%.
Earlier it was reported that sales of houses and apartments in Israel decreased by 11%.