Macro-economic Data

Text bolded/green below shows notes and variable definitions when you roll over. If you cannot see the notes, please download an Excel version from the Research Center, which includes notes. Also, a PDF featuring variable definitions is available in the document list under "Definition of Hofinet Variables".

 

A. Demography and Macroeconomy

A.1 Population
VariableEnd of 2015End of 2014End of 2013SourcesVar ID
Total population10.82 million10.89 million10.97 million
WDI
A.1.1
Average household size2.52.62.6
EuroStat
A.1.3
Urban population (% of total)78.01% of total77.68% of total77.34% of total
WDI
A.1.4
Urban population growth (annual %)-.24%-.23%-.28%
WDI
A.1.5
A.2 Economy
VariableEnd of 2015End of 2014End of 2013SourcesVar ID
GDP, current prices (U.S. dollars)195,320 USD (millions)194,958 USD (millions)236,455 USD (millions)
WEO
A.2.1
GDP based on PPP valuation of country GDP (Current international dollar)285,607 USD (millions)283,188 USD (millions)277,228 USD (millions)
WEO
A.2.2
GDP per capita, current prices (U.S. dollars)17,955.19 USD 21,639.94 USD 21,805.26 USD
WEO
A.2.3
GDP based on PPP per capita GDP (Current international dollar)26,303.82 USD 25,916.84 USD 25,194.26 USD
WEO
A.2.4
GDP, constant prices (Percent change)-.22%.35%-3.24%
WEO
A.2.5
Inflation, end of period consumer prices (Percent change).39%-2.54%-1.82%
WEO
A.2.6
GDP, deflator (Index)95.2596.2598.06
WEO
A.2.7
Consumer price index100.77102.55103.92
WDI
A.2.8
GINI IndexNot availableNot availableNot available
WDI
A.2.9
Growth in urban household income (%/year)A.2.13
Employment (% of total laborforce)A.2.14
Unemployed24.9%26.5%27.48%
WEO
A.2.14.3
Interest Rates:A.2.15
Central bank lending/discount rateNot availableNot availableNot available
IFS
A.2.15.1
Yield on 3 months treasury bills.17%.48%.54%
IFS
A.2.15.2
Yield on 10-year Government bond9.81%6.93%10.05%
IFS
A.2.15.3
Average bank deposit rate1.46%2.34%3.66%
IFS
A.2.15.4
Lending rateNot available7.29%7.62%
IFS
A.2.15.5
B. Housing Market
B.1 Housing Stock: Production, Transactions
VariableEnd of 2015End of 2014End of 2013SourcesVar ID
Number of dwelling units:B.1.1
Total  6,384,353 million
ELSTAT
B.1.1.1
Percentage of vacant units  35.43% of total
ELSTAT
B.1.2
Characteristics of housing stock:B.1.3
Tenure in urban areas (%):B.1.4
Owner-occupied unitsNot available74% of total75.8% of total
Eurostat
B.1.4.1
% of owner units with a mortgageNot available13.3% of total15.6% of total
Eurostat
B.1.4.2
Private rental unitsNot available20% of total18.9% of total
Eurostat
B.1.4.3
Estimated Number of units completed/yearB.1.5
Number of recorded urban housing transactions/yearNot availableNot availableNot available
Elstat
B.1.6
B.2 Housing Prices and Cost for Urban Areas or Capital City
VariableEnd of 2015End of 2014End of 2013SourcesVar ID
Median urban house price in USD:B.2.1
Median house price to median annual HH income:B.2.2
Annual average % change in median house prices:B.2.3
M2 construction cost for median quality houseB.2.4


back to top | Country Data:
Notes:
Notes:
Notes:
Notes: According to Alpha Bank between 60-75%
Notes: According to Alpha Bank between 60-75%
Notes: According to Alpha Bank between 60-75%
Notes: According to Law 4224/2013, banks must cooperate with noncompliant debtors and settle new agreements based on their income and living expenses
Notes: According to Law 4224/2013, banks must cooperate with noncompliant debtors and settle new agreements based on their income and living expenses
Notes: According to Law 4224/2013, banks must cooperate with noncompliant debtors and settle new agreements based on their income and living expenses
Notes: According to Law 4224/2013, banks must cooperate with noncompliant debtors and settle new agreements based on their income and living expenses 
Notes: Alpha Bank: 75 Piraeus Bank: 80 National Bank of Greece: 100 
Notes: Alpha Bank: 75 Piraeus Bank: 80 National Bank of Greece: 100
Notes: Alpha Bank: 75 Piraeus Bank: 80 National Bank of Greece: 100
Notes: At Piraeus Bank: fixed for 2,3,5 years then variable (5yrs 6%) At Alpha Bank: 6% fixed that will be increased by 0.30% when financing over 60% of the commercial value of the property; increased by 0.60% when financing property for professional use.
Notes: Capital gains derived from selling real estate property taxed at a flat rate of 15%
Notes: Capital gains derived from selling real estate property taxed at a flat rate of 15% 
Notes: Defined as "the national average" LTV
Notes: IMF estimate
Notes: Income-generating expenses are deducted from gross rental income
Notes: Income-generating expenses are deducted from gross rental income
Notes: Is a minimum
Notes: Property tax is levied at a progressive rate, ranging from 0-2%, based on property value
Notes: Property tax is levied at a progressive rate, ranging from 0-2%, based on property value 
Notes: Rental income is taxed at progressive rates, from 11% to 33% There is also the Local Real Estate Duty (TAP) tax. The rate varies between 0.025% and 0.035% of the value of the property 
Notes: Rental income is taxed at progressive rates, from 11% to 33% There is also the Local Real Estate Duty (TAP) tax. The rate varies between 0.025% and 0.035% of the value of the property
Notes: Requirements for the transfer of ownership: - Title of the seller (property right) - Agreement on the transfer of property - Agreement in the form of a notarial act - Valid legal cause(causa) - Registration with the land register