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Housing

Inflation in Greece Hits Double Digits at 10.2 Percent

Greece's annual consumer inflation jumped to its highest level in 28 years in April at 10.2 percent on the back of surging costs for energy, housing, transportation and foods, official data showed on Tuesday. The increase of inflation by 2.1...

US Fed Raises Interest Rates for First Time Since 2018 to Stem Inflation

The US Federal Reserve announced a quarter-percentage point interest rate increase on Wednesday, nearly two years to the day the central bank slashed its benchmark federal funds rate to zero amid the recession triggered by the COVID-19 pandemic. "It's clearly...

Commissioner For Refugees Criticizes Greek Plan To Close 60 Refugee Centers

Following Greece’s announcement to close 60 refuge housing centers, the the United Nations High Commissioner for Refugees issued a statement, saying the agency was “deeply concerned” by the Greek move. This follows comments by Migration and Asylum Minister Notis Mitarakis...

Greek Homes Lose a Third of their Value in 5 Years

The Greek economic crisis has hit the housing market hard as new data for the 2009-2014 period show that the median value of Greece's first residences, declined by 34%, from 106,340 euros in 2009 to 69,834 euros in 2014. Official...

Housing Sector Dealing with Over 10,000 Older Homes Abandoned Last Year

The latest data from GLP Values chartered surveyors of advisers, expert agents and brokers shows that an estimated 150,000-180,000 existing properties in Greece are being ignored by potential buyers as there is no demand for the older residences. According to sources,...

Cyprus Real Estate Sales Increase 37% in October 2016 From Previous Year

Real estate sales marked a significant increase of 37% in October 2016 compared to the same month the previous year, continuing an upward trend that began last February. An indication of growing real estate sales is that during the first 10...

Cotton Mill Turned into Migrant Center in Thiva as Cretan Officials Raise Concerns over Construction of 4 New Migrant Camps

According to Greek officials, the government is planning to use a former cotton mill near the city of Thiva in central Greece to house some 1,000 migrants. The government plans to transfer the majority of the migrants currently living at...

Greek Housing Market Falling Down Fast

With austerity measures cutting deep into consumer spending and construction, the Greek housing market has taken an especially big hit, with an 80 percent decline in building in the last five years, since the country’s recession began. Unable to pay...