Housing prices resume sharper downward trend in Q1


Greece's housing prices resumed a sharper downward trend in the first quarter of the year, after looking like they may have bottomed out in recent months , according to Bank of Greece data released Thursday.

Prices fell 1.8% year-on-year, the highest drop since the second quarter of 2016, the data showed.

The latest drop came amidst growing economic uncertainty in the country over bailout negotaitions with international creditors. The -1.8% figure compares with -1% in the the last quarter of 2016 and -1.5% in the second quarter of 2016.

A breakdown of the figures shows that Athens ranked among the country's best performing areas with first quarter apartment prices dropping 1.4% in the capital, followed by a 2.7% drop in northern Greece's Thessaloniki.

#prices #BankofGreece

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