Crisis: Greece; winter homes rates slump by over 50%

23 December, 18:28

    (ANSAmed) - ATHENS, DECEMBER 23 - The average prices of Greece's winter resort homes at popular destinations have slumped by up to 52% since the start of the financial crisis, according to a survey conducted by Geoaxis, a certified surveying company, as reported by Kathimerini. Nearly 10,000 such homes in the countryside have remained unsold as the crisis has affected this market more than that of main residences. Notarial associations have recorded an average annual decline in house transactions of 28.2% from 2007 up to end-2012.

    Properties in popular winter destinations such as Arachova, Aghios Athanasios, Karpenisi and Trikala in Corinth have dropped by an average rate of 44% since their peak in 2008. (ANSAmed).

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