Home sales in Greece are slowing down due to rising prices.

The real estate market is showing the first signs of a slowdown, manifested in a decrease in the number of purchases and sales. After the price increases observed over the past two years, areas where demand mainly comes from Greek buyers have started to experience a decline. This is due to the fact that fewer people have the financial means in the face of uncertainty and high interest rates.

In the northern suburbs of Athens, there has been an 8% decrease in sales compared to 2021, in Eastern Attica - a 15% decrease, and in the western suburbs - a 6% decrease. There was also a 12% drop in sales in Piraeus, while home sales in the suburbs of this port city decreased by 3%. A common characteristic of these areas is a significant increase in prices stated in the respective sales contracts, as well as the fact that the majority of buyers are Greeks.