Greek property prices rise for a third consecutive quarter

A recovery in Greece's residential property market gained momentum in the third quarter of 2018, central bank data showed on Monday, suggesting an improving economy and growing foreign interest may help property prices rise 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.

Prices of the apartments in which most Greeks live rose 2.5 percent in the quarter from a year earlier, Bank of Greece data showed, with the recovery accelerating from an upwardly revised 1.2 percent increase in the second quarter of the year.

More specifically, prices have risen by 3.7 percent year-on-year in Athens, where home-sharing platforms like Airbnb and a "golden visa" programme -- a...