\n<\/p>\n
Supply of Attica homes over \u20ac200,000 is more than double those costing below that amount, while demand is the exact opposite.<\/p>\n
Seven out of 10 buyers are looking for properties worth up to \u20ac200,000, according to a survey conducted by real estate firm Uniko.<\/p>\n
But only 18% of interested buyers are looking for properties worth over \u20ac300,000, and 30% are looking for properties worth up to \u20ac100,000, according to the survey by Uniko, which is a collaboration between the National Bank and Qualco.\u00a0<\/p>\n
This is an obvious mismatch between demand and supply, which explains the difficulty in accessing the housing market for the majority of interested buyers.\u00a0<\/p>\n
\u201cWe studied the Attica region and found that the lack of properties that buyers consider more affordable is great, while there are more properties priced above \u20ac200,000, and above \u20ac400,000 there is now a significantly larger available stock in relation to demand,\u201d said Uniko\u2019s George Gkiokas.<\/p>\n
Market analyst Ilias Papageorgiadis noted \u201cthere is a great shortage of small-sized properties below \u20ac100,000, while as the asking price grows, the supply deficit decreases, but continues to exist up to the psychological limit of \u20ac200,000.\u201d<\/p>\n
Based on the analysis, in the category up to \u20ac100,000 there is a supply deficit of almost 20%, compared to demand. That drops to 8% for properties from \u20ac100,000-150,000, and to 5% for the \u20ac150,000-200,000 category. Meanwhile, a 15% excess supply over demand marks the category of properties over \u20ac400,000.<\/p>\n
For the most popular areas, 84% of demand focuses on three Attica zones: the southern suburbs (30%), the center of Athens (29%) and the northern suburbs (24%). Just 9% of demand targets the western suburbs, and only 7% for the rest of Attica.<\/p>\n
Buyers look for large apartments with low prices, a combination out of touch with market reality.\u00a0<\/p>\n
Specifically, 52% of prospective buyers look for properties of 80-120 square meters, while an additional 25% go even higher, desiring homes over 120 sq.m., when most cannot afford more than \u20ac200,000.<\/p>\n<\/p><\/div>\n