Properties in capital's northern
suburbs resist the trend
by Nikos Roussanoglou, ekathimerini.com, 16 February
Even after six years of recession, from 2008 to 2013, the sale prices of newly built houses in the northern suburbs
of Athens are proving remarkably resistant to pressure.
Data released by the Hellenic Valuation Institute (ELIE) on the course of the property market in 2014 showed that
areas such as Kifissia, Politia, Neo Psychico, Halandri and Maroussi showed that new apartments are sold at prices
near or even above so-called objective values, or the official rates used for tax purposes.
Developers are determined to keep prices above objective values, and seeing they cannot secure buyers, choose to
rent out their properties.