Apartment prices continued falling in the first quarter of 2014, although at a slower rate, the Bank of Greece reported.

The central bank, in a report, said that apartment prices fell by an average 7.5% in the January-March period, compared with the corresponding period last year, after falling by an accumulated 22% in the 2012-2013 period.

The central bank said that according to revised data, the average annual rate of change was -10.3% in 2013 compared with -11.7% in 2012.

More specifically, the decline in prices was 7.6% for “new” apartments and 7.5% for “old” apartments in the first quarter of 2014. For all of 2013, based on revised data, the corresponding average annual rate of decline of the “new” apartments was 10.4%, compared with 10.2% of “old” (2012: “new” -12, 1%, “old” -11.4%).