Positive Outlook for House Prices in Attica
In the original phase of the ‘MyHome’ initiative, potential buyers were required to select properties built no later than 2007, making them at least 15 years old, priced at a maximum of 200,000 euros, and with a minimum area of 150 square meters.
Factors Driving the Increase in House Prices
Experts predict that house prices in Attica will continue to climb steadily in the second half of the year due to several favorable factors. One of the main drivers is the anticipation surrounding the second phase of the “MyHome” program, which offers a subsidy on interest rates for home purchases. With the funding for the program doubled to 2 billion euros, high demand from the first phase that remains unmet, and a limited supply of homes on the market, prices are expected to remain elevated, potentially surpassing current levels.
Industry insiders point out that the combination of these factors is likely to support the upward trend in house prices. Buyers and sellers are both optimistic about the market outlook, and the conditions are set for prices to continue their upward trajectory in the coming months.
The Impact of Expanding the Buying Public
The expansion of the buying public to include people in the 40-50 age group will have a significant impact on the real estate market. This age group tends to have more purchasing power and may be looking for properties in more expensive areas or with specific specifications.
This expansion in the buying public could lead to increased demand throughout Attica, without the limitations of the original program. As long as there are no restrictions on eligible properties, the entire market stands to benefit, rather than just specific areas.
Not only will this increase demand in all districts, based on their individual appeal, but it may also help to limit speculation by sellers. By broadening the pool of potential buyers, the market becomes more stable and less prone to manipulation.
Overall, expanding the buying public could lead to a more robust and dynamic real estate market in Attica, benefiting both buyers and sellers alike.
Restrictions on Real Estate Options
In a recent development, interested buyers were required to select homes built no later than 2007, making them at least 15 years old. These properties had to be priced at a maximum of €200,000 and have a minimum surface area of 150 square meters.
Impact on Homebuyers
As a result of these restrictions, the pool of available homes for purchase was drastically reduced. This limitation placed constraints on potential buyers, limiting their options and making it more challenging to find a suitable residence within their desired parameters.
