Apartment prices fall at an accelerating pace of 6.1 pct in Q3

EconomyMacroeconomy Tags: BoG, Property

Greek apartment prices fell by 6.1 percent in the third quarter (Q3) of 2015, at an accelerating pace compared to the downward revised 5 percent drop recorded in Q2, Bank of Greece (BoG) data showed on Wednesday.

Apartment prices are linked to demand for housing loans, which displayed a cumulative contraction by 15.5 percent from their peak at the end of 2010. At the same time, housing non-performing loans (NPLs) almost tripled from 10 percent at the end of 2010...

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