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The rate of the drop in rents across the country increased in the January-September period according to data from the Hellenic Statistical Authority and the Bank of Greece, which concur with the estate agencies’ conclusions.Rents started falling at a faster clip after 2012, when the annual rate of decline came to 2.1 percent. In 2013 it reached 6.8 percent and this year it came to 8.1 percent in the first nine months compared with a year earlier.
Deflation persisted in the Greek economy in November for a 21st month, mainly due to the impact of the lower taxation on heating oil consumption and the global decline in fuel prices.Hellenic Statistical Authority (ELSTAT) figures showed on Tuesday that the general consumer price index contracted 1.2 percent last month compared with November 2013. This was attributed mostly to the 5.3 percent drop in the “housing” price index, due to the drop in rental rates, heating oil prices and natural gas rates.
