House prices almost double

House sale prices in Attica have increased by 88% since the beginning of the recovery of the real estate market in 2017 and up to the second quarter of this year, based on Bank of Greece data released on Tuesday.

This is a clear indication of the speed with which prices have recovered, fueled mainly by foreign demand and to some extent domestic demand. Therefore prices have now exceeded the previous high recorded in 2008 by 4%.

Nationwide, after the second quarter, home sales prices are up 69.2%, but are still 2.4% off their previous peak in 2008.

It is evident that the property market has now almost fully recovered even at the nationwide level, illustrating the challenges that have arisen regarding the solution of the housing problem, which is clearly more intense in the two large urban centers of Athens and Thessaloniki.

Based on the second-quarter...