Real estate market stabilizes, prices up 1%- RE/MAX

Greece's property market is showing signs of stabilising with prices rising by an average of 1% last year, brokerage RE/MAX said on Tuesday.

On a national level, the prices of older homes (more than five years old) rose 1.1 percent while the price of newer properties moved ahead 1 percent, RE/MAX said in a statement.

In Athens, 93 percent of homes sold were residential properties, with about 4 percent of deals relating to commercial real estate.

A closer look at the figures shows that 93 percent of homes purchased in Greece last year ranked among older properties (more than five years old) and the remaining 7 percent were newly built homes.