The annual growth rates of nominal house prices gradually increased from around 4% in 2021 to 14% in the second quarter of 2023. Despite strong house price dynamics, valuation metrics indicate that house prices are still undervalued.

Loan demand from households has declined in recent quarters on account of higher interest rates, lower consumer confidence and a worsening housing market outlook.

ESRB assesses the current policy measures as being appropriate and sufficient in EU against residential real estate vulnerabilities.

You can find the full article here: The housing market in Greece continues to expand | eRed