Greek realty prices are on a roll

Greece has the fifth fastest growing property market in the European Union, according to July-September 2019 data published yesterday by Eurostat, as only four EU member-states beat the country's 9.1 percent annual price rise recorded by the Bank of Greece.

This is a diametrically opposite picture to that of previous years, when Greece was one of the very few countries where property rates were in decline.

Greek price growth accelerated over the course of 2019: Based on the revised data from the BoG, property rates expanded 5.3 percent year-on-year in the first quarter of the year, with the annual rise climbing to 7.7 percent in Q2. Property prices across Greece posted yearly growth of 7.4 percent over the January-September period, though in Athens the rise amounted to 10.3 percent. In 2018 the nationwide average growth rate only came to 1.8 percent.

Property...