House prices seen up globally but not Greece-Fitch

Greece is one of the three countries in the world which is not expected to see a rise in real estate prices this year, according to ratings agency Fitch.

National house prices are expected to rise in 19 countries out of the 22 markets highlighted by the report published earlier this week, with the exception of Greece, Norway and the UK. Prices in Greece are seen dropping 2% in 2018 and remaining flat in the UK, said Fitch, that also forecast a 5% decline for Norway.

Fitch has a positive or stable/positive market outlook for seven of the nine eurozone countries due to expectations for strong economic growth and continued quantitative easing (QE) in 2018. As the unwinding of QE and normalization of interest rates is expected in the medium-term, so the highlighted challenges are likely to materialize later than in other regions, it added.