Bank of Greece figures revealed on Thursday that those in the home-building sector remain unwilling to adjust their prices to market conditions, as on average they only reduced the prices for newly built houses by 3% within the third quarter of the year. Since the start of the year, as daily Kathimerini reports, the average price drop across the country has come to 4.6%.
However the number of transactions conducted through the banking system amounted to just 9,100, showing a spectacular decline of 42.1% in the July-September period compared to the same quarter last year, as demand is shrinking dramatically. In the year’s first nine months, transactions amounted to no more than 33,500. In 2010 there were 74,500 transactions, just down from 74,600 in 2009.
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