GREECE: 900 million euros from banks in the mortgage market

After a decade of stagnation, the mortgage market in Greece is now in a phase of development with converging estimates that have been made by knowledgeable bank executives bringing new loan disbursements in this sector to 900 million euros from here the end of the year.

The interest of households, as the leaders of the banks underlined in their official presentations, is even greater, but the long period of disbursement of a mortgage which in 2020 exceeded 4 months is one of the brakes. This time should be considerably reduced as the market and all the services concerned (public services and courts) are now returning to normal after the restrictive measures imposed due to the pandemic and the progressive digitization of procedures.

The average home loan is currently between 70,000 and 90,000 and seven out of ten applications are approved, while the borrower’s own stake is expected to be around 25% of the property’s value.

SOURCE: AMNA

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