Nearly 9 out of 10 Greeks who bought property in 2017 bought it in cash. In addition, almost 3 out of 10 transactions last year relate to amounts between 110 thousand and 250 thousand euros.
The survey was carried out in December and the President of the Union of Certified Greek Agents, Nikos Manomenidis, points out reflects the trend in property transactions for Greeks at the moment. He added that the number of transactions remained small, while the majority of those who were buying property did so for self-employment housing the family.
More specifically, based on the findings of the survey, 1 in 4 transactions last year were for dwellings (75.2%) and 14.9% for purchases on land.
Small purchases of up to €30 thousand (15.7%) were made in cash, as in the next category of up to €60 thousand. The category in the 31-60 thousand-euro range is the second most popular since 1 in 4 transactions last year were for this type of real estate.
Real estate for family purposes or investments were the most popular last year and amounted up to 250 thousand euros. 28.1% of the properties sold last year fell into this category, with less than half being financed by banks.
The survey data showed that almost 86% of the transactions were made last year in cash, only 13.3% with bank funding, while virtually nothing is the percentage of those made with a finance facility by the seller.