Greek housing sector extends rebound amid economy's recovery

A recovery in Greece's housing market gained momentum in the last quarter of 2018, central bank data showed, suggesting that a recovering economy and growing foreign interest might lift property prices further.

Property accounts for a large chunk of household wealth in Greece, which has one of the highest home ownership rates in Europe at 80 percent, versus a European Union average of 70 percent, according to the European Mortgage Federation.

Apartment prices rose 2.5 percent in the fourth quarter compared with the same period in 2017, Bank of Greece data showed, with the recovery accelerating from a downwardly revised 2.1 percent increase in the third quarter of last year.

More specifically, prices rose by 4.2 percent year-on-year in Athens, where home-sharing platforms like Airbnb and a "golden visa" program - a renewable five-year resident's permit in return...