Residential prices expected to stabilize over the course of this year

Property market experts are expecting a stabilization of residential sales prices for 2023, per a Cerved Property Services survey.

According to 55% of the professionals who participated, prices are expected to stabilize as a result of several negative factors, including inflation, growing construction costs, rising mortgage rates, shrinking household incomes and the general sense of financial insecurity.

Conversely, 37% expect prices to rise further and just 8% think they will fall.

Cerved noted that "nowadays demand is greater than supply in the Greek housing market," mainly from Greeks wishing to buy their own home.