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Greek property prices predicted to fall by 20%

Property prices in Greece may drop another 20%, according to local estate agents, as Eurozone financial uncertainty continues.

‘Prices, which have already fallen by about 20%, could fall by about the same amount again if Greece leaves the euro,’ Aylesford estate agent’s director Piers Williams told Reuters.

The potential for further falls in property prices has resulted in Greece reclaiming a top 10 spot as one of the most popular searches for property, according to TheMoveChannel.com’s latest ‘Top of the Props’ report.

Some estate agents in Greece have already seen an increase in buyer interest also, with some reporting that they are receiving up to four enquiries per day from foreign buyers, compared to just five per week last year.

However, many are likely to await the outcome of the Greek elections, which take place on Sunday 17th of June 2012.

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