Prices dive in Greek housing market

Study says 75% of mortgage payments are in arrears

[ATHENS] Costas, a two-decade real estate construction veteran, has never seen the sector so vital to Greece's economy in such a sorry state.

"Construction is dead, the crisis has destroyed everything," bemoaned the 50-year-old, who declined to give his last name.

Greece's six-year recession and brush with bankruptcy has seen prices tumble by nearly a third for residential property, a key means for many to invest and save for retirement.

Experts also blame government policy as new taxes on property...

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