Home prices to fall 15 pct in next two years, Fitch

Home prices in Greece are expected to fall by 15 pct in the next two years, Fitch Ratings said on Tuesday.

The credit rating agency, in a report, said higher interbank rates and fiscal consolidation measures would raise the percentage of borrowers who would be unable to repay their mortgage loans.

“It seems that rising number of borrowers delaying payment of their mortgage loans will end up in a higher number of non-performing loans,” Fitch said in the report.