Home property sales up 42 pct in 2018

Home property sales up 42pct; Most deals in Athens

The number of properties sold in Greece last year shot up by 42 percent, reflecting improving conditions in the country's residential housing market, according to data from the tax office.

The spike in homes being sold was recorded amidst a 1.5 percent price rise in 2018, the first gain in ten years, due to improving economic conditions in the country. Property prices are seen continuing to head higher in the next 18 months.

Figures show that 26,700 contracts were submitted to the tax office in 2018, up from 18,800 in the previous year.

The bulk of the business was done in the broader Athens area were 14,291 sales contracts were conducted, up from 8,532 in 2017, with four in ten deals on real estate in central Athens.

The spike in home sales also bumped up state revenues. Tax revenues from home transactions jumped by 41 percent to 232 million euros versus 164 million euros in the previous year, showed the data from the Greek tax office.

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