According to the Bank of Greece report in the third quarter of 2012, property prices in the country fell by 11.7% compared to the same period in 2011. During the first and second quarter of 2012, house prices fell by 9.3% and 10.2% yoy respectively. Prices of new homes in the same period also fell by 13.5%, according to the report, the total number of transactions also decreased from 6400 in the second quarter to 4,900 in the third quarter of 2012 is 48.7% lower than the same period last year. The report also notes that according to the loans issued by Alfa-Bank, at the end of 2012 in Greece was planned to build 20,000 new homes, but only 12,622 of them were built during the seven months to July 2012. This is just one fifth of the pre-crisis levels, when 103,865 housing units were built in 2007. HomesOverseas.ru
