A recent international survey by conducted by the RE/MAX Europe network of estate agents showed that Greece has one of the most affordable housing markets among the 18 countries that took part. Last year a 100sq metre apartment in a main city cost around €92,200 on average while a similar property in urban areas would set you back approximately €67,000.
While the financial crisis has no doubt played a part in falling prices, RE/MAX predicted that the property market is expected to stabilise, as is already evident, with appealing sale prices, the increase in domestic demand and some signs of growth in the Greek economy being the main factors.
Prices for holiday homes meanwhile are competitive when compared with other Mediterranean countries. A 100sq countryside apartment in Italy and Spain would cost €120,000 and €117,000 respectively, which is double that of a similar home in Greece.