Greece's residential market stagnates in Q2

According to the Spitogatos Property Index (SPI), the residential real estate market in Greece slowed down in Q2 2020 due to the pandemic. Prices remained almost unchanged since the first quarter of the year.

SPI, which monitors asking prices published in online ads, showed that the average selling price in the period April-June remained unchanged at €1,544 per sqm throughout Greece, while in the first quarter it was €1,545 per sqm. Compared to the second quarter of 2019, however, prices rose by 4.8 percent, which was slower than the y-o-y result in Q4 2019, which was 6 percent.

This slowdown is expected to deepen in the second half of the year. The data suggests that prices for residential properties popular among foreign investors will suffer the most.