Crete property news and local information - West Crete Journal™

Property prices slightly up

Property sales, in data collected and processed by Aspis Real Estate (ARE), a chain of realty agents, are reporting satisfactory demand and a continued slight rise in prices for newly built apartments in the first nine months of the year.

Between January and September 2007, ARE closed 795 property deals in the Attica basin, regarding exclusively newly built apartments. In the same period last year, the number of deals closed by ARE stood at 605, showing an increase of 31.4% in this year's property deals. Similarly, significant changes are also apparent in sale prices.

Characteristically, the mean increase in prices for central Athens stands at 12.5%, with a similar rate recorded in the western suburbs, followed by the northern suburbs with 12.3% and the southern suburbs with 11.2%. The rise in Piraeus stood at 9.0%and in eastern suburbs at 6%. Based on the above data, Aspis Real Estate has concluded that demand is satisfactory and prices are moving up.

- Kathimerini, 5 November 2007

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