Small recovery seen in prices of new homes last year

Several residential construction firms last year raised their prices for the first time since the outbreak of the financial crisis, after deciding the improvement in the climate – albeit small – and the increase in transactions were sufficient reasons for them to try to improve their bottom line.

In its annual report, realty firm RE/MAX Greece noted a 2.2 percent year-on-year increase in newly built homes in Attica last year.

The prices of houses and apartments in provincial cities rose 1.6 percent, but in Thessaloniki the average price dropped 4.8 percent.