Marxian economics

Real estate market experts predict a slowdown in the rate of increase in home sales prices in the coming years, as well as a slight decrease in the volume of transactions.

According to recent data from the National Statistical Institute (NSI), residential property prices in Bulgaria surged by 16% in the first quarter of 2024 compared to the same period last year, marking the highest growth rate since 2022. This increase is notably higher than the 10% rise observed in 2023.

Three years have passed since the last setting of properties' taxable rates (known as objective values) and already in some districts of the capital, but also in areas popular with tourists, the difference with the commercial sales prices is chaotic.

A total of 212,000 homes are estimated to be missing from the Greek property market, according to a study by Piraeus Bank. This is the reason why prices are 14% overvalued today, compared to the level they should be at according to the fundamental macroeconomic figures of the Greek economy.

Inflation is, of course, not only a Greek problem or just an imported problem. It's also not like a storm that can't be dealt with and you just wait for it to pass. Nor, again, is it a neutral phenomenon: It redistributes wealth. As long as consumption holds up, producers and retailers raise prices and profits. Are we experiencing greedflation?

Even if a reduction of value-added tax is not the solution, the continuation of high food prices is a problem that is taking a toll on society.

The Greek market suffered from a lack of transparency and healthy competition even before the current inflation crisis began, and while some efforts were made to deal with these problems, they were obviously not enough. 

"Geocultura," inspiring the connection between cultivation of the land and cultivation of the mind, is the broad theme of the 8th Thessaloniki Biennale, running out of the Macedonian Museum of Contemporary Art (momus.gr) at different venues across the northern port city.

All available data shows that real estate prices, mainly in Greece's urban centers, are rising fast.

The problem is not just here in this country, but the cost of housing in relation to income is much worse in Greece than in the rest of Europe.

As long as demand is greater than supply, apartment prices will go up, architect Branka Bonjak tells RTS and reveals when prices are expected to start declining.

If these theories prove true, it could help us understand a lot about why the Earth’s core seems to change constantly