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BoG: Apartment prices increased by 6.9% in the first quarter of 2020
According to data collected by the Bank of Greece from credit institutions, the apartment prices in the first quarter of 2020 were increased by 6.9% compared to the corresponding quarter of 2019.
For the whole of 2019, based on the revised data, apartment prices increased at an average annual rate of 7.3% compared to an increase of 1.8% in 2018, as announced by the BoG.
More specifically, the price increase in the first quarter of 2020 compared to the corresponding quarter of 2019 was 7.9% for the new apartments, ie up to 5 years old, and 6.3% for the older apartments, ie over 5 years of age.
The analysis of the data by geographical area shows that the prices of apartments in the first quarter of 2020 compared to the corresponding quarter of 2019 increased by 10.6% in Athens, 5.5% in Thessaloniki, 2.9% in the other major cities and 4.3% in other parts of the country.
The data used for the price indicators as well as the comparative data on which they are based represent the period before the imposition of the restrictive measures due to the pandemic of coronavirus, in March 2020.
Original SOurce: Capital
Adaptation/Summary: Kiki Athanasiadis