Residential and commercial property price indices and other short-term indices

The Bank of Greece has attached great importance to creating a primary data collection and analysis mechanism regarding the real estate market activity and, in particular, property prices, rents and quality characteristics.

The Bank aims to monitor systematically, substantiate and analyse any developments and prospects in the real estate market.

In this context, the Real Estate Market Analysis Section created Residential and Commercial Property Indices, using the detailed information collected from all credit institutions and Real Estate Investment Companies (REIC) operating in Greece.

These indices present specific advantages and quality characteristics and are expected to contribute to a more comprehensive appraisal of any developments and prospects in the Greek real estate market, thereby strengthening, above all, the market itself.

Some of the advantages are: official implementing body and application of modern methodology, timely and regular publication (press releases published on specific dates), quarterly and semi-annual periodicity of residential and commercial property price indices, respectively, as well as the country-wide capacity to provide considerable analysis (e.g. by geographical area, type of use, age).

Short-term indices

In addition to residential and commercial property prices, there are certain other relevant statistics that can be used to draw conclusions concerning the supply and demand in the Greek real estate market.

The most important of these statistical series are the price index of house rents, the different construction costs indices, investments in construction, building activity indices, construction expectation indices, etc.

In addition, in terms of demand, the development of interest rates and especially of the balance of housing loans provides very useful information. These indices are systematically entered in the database created by the Bank of Greece Real Estate Market Analysis Section and published on this webpage to improve and disseminate all available information on the appraisal of the current situation and prospects of the real estate market in Greece.

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