Property prices recorded robust growth of 7.3 percent last year

Property prices in Greece recorded their biggest rise of the last decade last year, as the RE/MAX estate agency network's annual survey points to an average increase of 7.3 percent from 2017, when annual growth had only come to 1 percent.

The biggest increases nationwide - around 9 percent - were recorded among properties more than five years old, the category that accounted for almost 90 percent of transactions in 2018. The prices of newer residential properties rose 6.9 percent.

In Athens, the prices of properties more than five years old were up 6.9 percent, but this was overshadowed by the 10.7 percent annual jump in the prices of new homes.

The capital has seen a mix of trends due to the rapid rise of short-term property leasing to tourists via online platforms such as Airbnb, HomeAway, FlipKey and HouseTrip: RE/MAX data showed that rates for older...