Residential property price fall eases

The decline of residential property prices continued in the second quarter of the year, according to figures released on Thursday by the Bank of Greece, at a time when many were hoping the market would bottom out and start to stabilize.

Data showed prices down 1.2 percent in the April-to-June period this year compared to a year earlier. The drop in the first quarter of the year amounted to 1.7 percent, while the fall for the whole of 2016 had come to 2.4 percent on an annual basis.

The decline has therefore slowed somewhat, thanks to improved conditions in the economy during the spring compared to the start of the year, when uncertainty had culminated as a result of the constant delays in the completion of the second bailout review.

Central bank statistics revealed that apartments more than five years old experienced a steeper price slide in Q2 in comparison with...