Greek Housing Market Is Not Immune to the Coronavirus Disease

The Greek housing market retained its positive growth momentum in the first quarter of 2020 despite the start of the Coronavirus Disease (COVID-19) outbreak. After experiencing a long 54% decline from 2009 through 2017, property prices increased by 9% in 2018-19. Property prices grew an additional 6.9% from January to March 2020. Growing foreign investors' demand and improved domestic economic conditions have been the main drivers of the revival in the residential property market.