Experts warn off a potential decrease in property prices in Greece in 2024, as they assess that the outbreak of the past two years is coming to an end.
It is expected that the cost of real estate will continue to rise, but at a noticeably slower pace. In certain areas with low demand, a slight decrease in prices is anticipated to stimulate sales.
The Bank of Greece noted in a report published at the end of 2023 that "the first signs indicating an inevitable period of price correction have emerged, especially in areas with low demand."
The outlook of the Bank of Greece regarding the upcoming period remains moderately optimistic, influenced by international events, high inflation, rising interest rates, and overall uncertainty.
Other analytical reviews also point to a slowing growth rate. Alpha Finance predicts only a 3% average annual price growth in Greece from 2023 to 2025. This forecast is supported by both the European Banking Union and the European Central Bank.
On the other hand, the National Bank of Greece is more optimistic, forecasting an average price growth of 7% for 2023-2024. The overall forecast for the period from 2025 to 2030 anticipates an average annual growth in selling prices of 5%.