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Business Insider: Greece 9th Worst Real Estate Market

Greece is one of the worst real estate markets for 2017, ranking in 9th place with Thailand in 8th, while prices continue to fall, according to the Business Insider.

Based on a quarterly analysis by the Global Property Guide, Business Insider made a list of the nine countries with the largest drop in real estate prices in the second quarter of 2017.

“Greece’s decade-long housing market bust is not yet over,” the report from Global Property Guide said, noting that house prices in Athens, the capital, have been steadily decreasing since 2008.

Home prices in Greece fell 2.53% year-over-year in the second quarter of 2017, after falling by 1.55% in 2016.

Puerto Rico is on top of the list, with prices falling 9.59% in the second quarter of 2017. It is worth noting that the analysis was conducted before the devastating hurricane Maria.

On the other hand, the five strongest property markets according to the same survey are Iceland (21.28% increase), Hong Kong (+ 19.27%), Ireland (+ 13.52%), Canada, 08%) and Romania (+ 8.87%), Business Insider says.

The 9 worst real estate markets in the world are:

1. Puerto Rico
2. Russia
3. Qatar
4. FYROM
5. Egypt
6. Ukraine
7. Singapore
8. Thailand
9. Greece

Source: greece.greekreporter.com