Authored by the expert who managed and guided the team behind the Greece Property Pack
Yes, the analysis of Thessaloniki's property market is included in our pack
Thessaloniki's apartment market in 2026 offers a wide range of options, from budget-friendly western neighborhoods to premium seafront locations near the White Tower.
Understanding actual transaction prices, closing costs, and ongoing expenses is essential before committing to a purchase in Greece's second-largest city.
We constantly update this blog post to reflect the latest market data and pricing trends in Thessaloniki.
And if you're planning to buy a property in this place, you may want to download our pack covering the real estate market in Thessaloniki.
Insights
- Thessaloniki apartment prices can vary by nearly 3x depending on neighborhood, with Ampelokipoi averaging around €1,376/m² while Lefkos Pyrgos near the White Tower reaches €3,987/m² in early 2026.
- Foreign buyers in Thessaloniki should plan for 30% to 40% cash upfront, even when banks advertise 80% loan-to-value, because non-resident mortgage approvals typically require larger down payments.
- Ampelokipoi recorded the fastest price growth in Thessaloniki in 2025, with asking prices jumping over 15% year-over-year, signaling strong investor interest in affordable western districts.
- New-build apartments in Thessaloniki command a 15% to 30% premium over comparable resale units, driven by limited central supply and buyer demand for energy-efficient buildings.
- Buyer closing costs in Thessaloniki typically range from 5.5% to 9% of the purchase price, with transfer tax alone accounting for about 3.09% of the property value.
- A typical 70 m² apartment in Thessaloniki in 2026 costs between €161,000 and €172,000 at closing, translating to roughly €2,300 to €2,450 per square meter after negotiation.
- Monthly building fees (koinochrista) in Thessaloniki run between €50 and €105 for a 70 m² apartment, with costs rising significantly in buildings with elevators or central heating systems.
- Annual property tax (ENFIA) for a standard Thessaloniki apartment ranges from €250 to €650, depending on the zone value and building characteristics of your specific block.
- Kalamaria remains one of Thessaloniki's most sought-after seaside neighborhoods for expats, with asking prices around €2,954/m² and good access to beaches and restaurants.
- Winter heating is often the largest variable expense for Thessaloniki apartment owners, potentially doubling utility bills for those in older buildings with inefficient heating systems.
How much do apartments really cost in Thessaloniki in 2026?
What's the average and median apartment price in Thessaloniki in 2026?
As of January 2026, the average apartment price in Thessaloniki is around €171,500 (approximately $177,000 or €171,500) for a typical 70 m² unit, while the median sits closer to €161,000 ($166,000), reflecting the range of options available across the city.
When looking at price per square meter, Thessaloniki apartments average around €2,450/m² ($2,525/m² or about €228/sq ft) at closing, though asking prices often start higher before negotiation brings them down by 5% to 10%.
Most standard apartments in Thessaloniki in 2026 fall within a price range of €140,000 to €220,000 ($144,000 to $227,000), covering everything from modest resale units in western districts to renovated apartments in more central locations.
How much is a studio apartment in Thessaloniki in 2026?
As of January 2026, a typical studio apartment in Thessaloniki costs between €69,000 and €75,000 (approximately $71,000 to $77,000), though this varies significantly based on location and building condition.
Entry-level studio apartments in budget neighborhoods like Stavroupoli or Ampelokipoi start around €63,000 to €69,000 ($65,000 to $71,000), while premium studios in central Thessaloniki or near the seafront can reach €90,000 to €120,000 ($93,000 to $124,000) for renovated or new-build units.
Studio apartments in Thessaloniki typically measure around 25 to 35 m² (270 to 375 sq ft), with 30 m² being the most common size for a true studio layout in the city's apartment buildings.
How much is a one-bedroom apartment in Thessaloniki in 2026?
As of January 2026, a typical one-bedroom apartment in Thessaloniki costs between €115,000 and €125,000 (approximately $118,500 to $129,000), representing a popular choice for singles and couples entering the market.
Budget-friendly one-bedroom apartments in western neighborhoods start around €105,000 to €115,000 ($108,000 to $118,500), while central locations with renovated finishes or sea views can push prices to €130,000 to €160,000 ($134,000 to $165,000) or higher for premium units.
One-bedroom apartments in Thessaloniki typically range from 45 to 55 m² (485 to 590 sq ft), with 50 m² being a common size that includes a separate bedroom, living area, kitchen, and bathroom.
How much is a two-bedroom apartment in Thessaloniki in 2026?
As of January 2026, a typical two-bedroom apartment in Thessaloniki costs between €169,000 and €188,000 (approximately $174,000 to $194,000), making it the most common choice for families and those seeking more living space.
Entry-level two-bedroom apartments in affordable areas like Stavroupoli or Evosmos range from €154,000 to €169,000 ($159,000 to $174,000), while renovated or sea-adjacent two-bedroom units in Kalamaria or the city center can exceed €200,000 ($206,000) and climb significantly higher for premium properties.
By the way, you will find much more detailed price ranges for apartments in our property pack covering the property market in Thessaloniki.
How much is a three-bedroom apartment in Thessaloniki in 2026?
As of January 2026, a typical three-bedroom apartment in Thessaloniki costs between €225,000 and €250,000 (approximately $232,000 to $258,000), offering generous space for larger families or those who need a home office.
Budget-conscious buyers can find three-bedroom resale apartments in western districts for €200,000 to €225,000 ($206,000 to $232,000), while prime locations, new-build construction, or premium finishes push prices to €280,000 to €400,000 ($289,000 to $412,000) or beyond in sought-after neighborhoods.
Three-bedroom apartments in Thessaloniki typically measure between 90 and 110 m² (970 to 1,185 sq ft), with 100 m² being a standard size that allows comfortable room proportions and often includes a second bathroom.
What's the price gap between new and resale apartments in Thessaloniki in 2026?
As of January 2026, new-build apartments in Thessaloniki typically cost 15% to 30% more per square meter than comparable resale units in the same location, reflecting buyer demand for energy efficiency, modern layouts, and building amenities.
New-build apartments in Thessaloniki average around €2,800 to €3,200/m² ($2,885 to $3,300/m²) in most central and popular residential areas, though premium developments near the waterfront can exceed these figures significantly.
Resale apartments, by comparison, average around €2,200 to €2,500/m² ($2,270 to $2,575/m²) in the city, making them attractive to buyers prioritizing value over newness, though older buildings may require renovation and have higher ongoing heating costs.
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Can I afford to buy in Thessaloniki in 2026?
What's the typical total budget (all-in) to buy an apartment in Thessaloniki in 2026?
As of January 2026, the typical all-in budget to buy a standard two-bedroom apartment in Thessaloniki is around €190,000 to €205,000 ($196,000 to $211,000), including purchase price plus all buyer closing costs.
Beyond the purchase price, buyers in Thessaloniki should budget for transfer tax (about 3.09% of value), notary fees (around 1%), land registry costs (roughly 0.5%), lawyer fees (0.5% to 1%), engineer certificates, and potentially agent commission, which together add 5.5% to 9% to the total cost.
We go deeper and try to understand what costs can be avoided or minimized (and how) in our Thessaloniki property pack.
You can also read our dedicated blog article to understand what you can at different budget levels in Thessaloniki.
What down payment is typical to buy in Thessaloniki in 2026?
As of January 2026, the typical down payment to buy an apartment in Thessaloniki ranges from 20% to 40% of the purchase price, meaning €32,000 to €72,000 ($33,000 to $74,000) for a €180,000 apartment, depending on your residency status and financial profile.
Greek banks like Piraeus Bank commonly finance up to 80% of property value for well-qualified buyers, which means the minimum down payment is technically 20%, but most foreign buyers face more conservative lending terms in practice.
For favorable mortgage terms and smoother approval, non-resident foreigners buying in Thessaloniki should plan for a 30% to 40% down payment, plus an additional 6% to 9% in cash for closing costs, which means roughly 36% to 49% of the purchase price in cash.
You can also read our latest update about mortgage and interest rates in Greece.
We made this infographic to show you how property prices in Greece compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.
Which neighborhoods are cheapest or priciest in Thessaloniki in 2026?
How much does the price per m² for apartments vary by neighborhood in Thessaloniki in 2026?
As of January 2026, apartment prices per square meter in Thessaloniki range from around €1,376/m² ($1,420/m²) in the most affordable areas to nearly €4,000/m² ($4,120/m²) in premium waterfront locations, representing almost a threefold difference across the city.
The most affordable neighborhoods in Thessaloniki include Ampelokipoi at around €1,376/m² ($1,420/m²), Stavroupoli at approximately €1,518/m² ($1,565/m²), and Evosmos Center at about €1,810/m² ($1,865/m²), all located in the western part of the metropolitan area.
The most expensive neighborhoods are Lefkos Pyrgos near the iconic White Tower at approximately €3,987/m² ($4,110/m²), Thessaloniki Center at around €3,013/m² ($3,100/m²), and seaside Kalamaria at about €2,954/m² ($3,045/m²), where proximity to landmarks, seafront, and dining drives premium pricing.
By the way, we've written a blog article detailing what are the current best areas to invest in property in Thessaloniki.
What neighborhoods are best for first-time buyers on a budget in Thessaloniki in 2026?
As of January 2026, the top three neighborhoods for first-time buyers on a budget in Thessaloniki are Ampelokipoi, Stavroupoli, and Evosmos Center, all offering significantly lower entry prices than central or seaside areas.
In these budget-friendly Thessaloniki neighborhoods, typical apartment prices range from €55,000 to €100,000 ($57,000 to $103,000) for studios and one-bedrooms, and €100,000 to €150,000 ($103,000 to $155,000) for two-bedroom units, making homeownership accessible to more buyers.
These western Thessaloniki neighborhoods offer good public transport connections, local markets, schools, and everyday amenities, with larger floor plans available for the same money compared to central locations.
The main trade-off is distance from the waterfront and central nightlife, plus a higher proportion of older 1970s-era apartment buildings that may need updates and have less efficient heating systems.
Which neighborhoods have the fastest-rising apartment prices in Thessaloniki in 2026?
As of January 2026, the neighborhoods with the fastest-rising apartment prices in Thessaloniki are Ampelokipoi, the broader Thessaloniki region, and Evosmos Center, where affordability has attracted strong buyer interest and pushed values upward.
Ampelokipoi recorded the highest year-over-year price growth at over 15%, followed by the Thessaloniki region average at around 8.4% and Evosmos Center at approximately 7.7%, all outpacing inflation and making these areas interesting for value-focused buyers.
The main driver behind this rapid price growth is the combination of low starting prices and increased demand from buyers priced out of central and seaside neighborhoods, creating a catch-up effect in previously overlooked western districts.
You can also read our latest update about property price forecasts in Thessaloniki.
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What extra costs will I pay on top of the apartment price in Thessaloniki in 2026?
What are all the buyer closing costs when you buy an apartment in Thessaloniki?
For a typical €180,000 apartment in Thessaloniki, total buyer closing costs range from about €10,000 to €16,000 ($10,300 to $16,500), depending on whether you use a real estate agent and how complex the property's paperwork turns out to be.
The main categories of closing costs in Thessaloniki include real estate transfer tax, notary fees, land registry or cadastre registration, lawyer fees, engineer technical certificates, and optionally real estate agent commission if you use one.
The largest closing cost for buyers in Thessaloniki is the real estate transfer tax, which is set at 3% of the taxable value plus a 3% municipal levy on that tax, resulting in an effective rate of about 3.09% of the property price.
Some closing costs can vary between transactions, particularly lawyer fees (which depend on scope of work), engineer costs (which depend on building complexity), and agent commission (which ranges from 1.5% to 2.5% and is sometimes negotiable or split with the seller).
On average, how much are buyer closing costs as a percentage of the purchase price for an apartment in Thessaloniki?
Buyers in Thessaloniki should budget approximately 6% to 7% of the purchase price for closing costs if not using an agent, or 7.5% to 9% if an agent commission is included in the buyer's costs.
The realistic range covering most standard Thessaloniki apartment transactions is 5.5% on the low end (simple paperwork, no agent, efficient professionals) up to 9% on the high end (complex building history, full legal representation, agent fee, and VAT on services).
We actually cover all these costs and strategies to minimize them in our pack about the real estate market in Thessaloniki.
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Greece versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you’re planning to invest there.
What are the ongoing monthly and yearly costs of an apartment in Thessaloniki in 2026?
What are typical HOA fees in Thessaloniki right now?
Building common expenses (called koinochrista in Greek) are standard in Thessaloniki apartment buildings, with typical monthly fees ranging from €50 to €105 ($52 to $108) for a 70 m² apartment, calculated at roughly €0.70 to €1.50 per square meter per month.
In basic buildings without elevators or shared heating, koinochrista may be as low as €30 to €50 ($31 to $52) monthly, while modern buildings with elevators, central heating systems, cleaning staff, and reserve funds can push fees to €100 to €150 ($103 to $155) or more per month.
What utilities should I budget monthly in Thessaloniki right now?
For a typical 70 m² apartment in Thessaloniki in 2026, total monthly utility costs range from about €90 to €200 ($93 to $206), depending on season, usage habits, and heating system efficiency.
The realistic range varies significantly by apartment size: a small studio might cost €60 to €100 ($62 to $103) monthly in utilities, while a larger three-bedroom unit could reach €150 to €250 ($155 to $258) during winter months with heavy heating use.
Typical monthly utilities in Thessaloniki include electricity (€60 to €120), water and sewer charges (€10 to €25), and internet service (€22 to €54), with electricity being the main variable depending on air conditioning and heating usage.
Electricity is usually the most expensive utility for Thessaloniki apartment owners, particularly during winter when electric heaters or heat pumps run frequently, and this cost can spike dramatically in older buildings with poor insulation.
How much is property tax on apartments in Thessaloniki?
The annual property tax (called ENFIA) for a typical 50 to 80 m² apartment in Thessaloniki ranges from approximately €250 to €650 ($258 to $670) per year, payable by all property owners including foreign buyers.
ENFIA is calculated based on the property's zone value, size, floor level, building age, and other characteristics, with each block in Thessaloniki assigned a tax zone that determines the per-square-meter base rate.
The realistic range of annual ENFIA varies from under €200 ($206) for small apartments in lower-value western zones to over €800 ($825) for larger units in premium central or seafront locations with higher assessed values.
If you want to go into more details, we also have a blog article detailing all the property taxes and fees in Thessaloniki.
What's the yearly building maintenance cost in Thessaloniki?
The typical yearly building maintenance cost for apartment owners in Thessaloniki ranges from €600 to €1,200 ($620 to $1,240) for routine common expenses, plus an average buffer of €200 to €600 ($206 to $620) annually for occasional one-off repairs.
In newer buildings with modern infrastructure, maintenance costs tend toward the lower end, while older 1970s-era apartment blocks may face higher expenses due to elevator repairs, plumbing issues, facade work, or roof maintenance that can spike costs in certain years.
Building maintenance expenses in Thessaloniki typically cover elevator service contracts, common area cleaning, stairwell lighting, building insurance, small repairs, and contributions to a reserve fund for larger future projects.
In most Thessaloniki buildings, routine maintenance costs are included within the monthly koinochrista payments, but major one-off works like elevator replacement or facade renovation are assessed separately as special contributions decided by the building assembly.
How much does home insurance cost in Thessaloniki?
Annual home insurance for a typical apartment in Thessaloniki costs approximately €120 to €350 ($124 to $361) per year, depending on coverage level, property value, and whether earthquake protection is included.
The realistic range spans from about €100 ($103) annually for basic contents-only coverage to €400 ($412) or more for comprehensive policies that include full rebuild value, liability protection, and natural disaster riders for earthquake and flood.
Home insurance is not legally mandatory for apartment owners in Thessaloniki, but it is strongly recommended, and mortgage lenders typically require at least fire and earthquake coverage as a condition of financing.
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What sources have we used to write this blog article?
Whether it's in our blog articles or the market analyses included in our property pack about Thessaloniki, we always rely on the strongest methodology we can … and we don't throw out numbers at random.
We also aim to be fully transparent, so below we've listed the authoritative sources we used, and explained how we used them and the methods behind our estimates.
| Source | Why it's authoritative | How we used it |
|---|---|---|
| Bank of Greece (RPPI) | Greece's central bank, the official source for housing price indices. | We used it to ground our 2026 Thessaloniki price growth assumptions. We also verified regional price trends against private asking prices. |
| Bank of Greece Q3 2025 Report | Official publication with consistent methodology and clear timestamps. | We used it to quantify how fast Thessaloniki prices rose going into 2026. We also referenced its new versus old apartment split for premium analysis. |
| Indomio Thessaloniki | Major European portal with standardized, location-level asking prices. | We used it as our primary early-2026 price anchor with December 2025 data. We translated this into January 2026 estimates for the article. |
| Indomio Thessaloniki Municipality | Provides the cleanest city-level proxy for urban apartment pricing. | We used it to set our baseline Thessaloniki city price per m². We applied a negotiation discount to estimate transaction prices. |
| Indomio Thessaloniki Center | Neighborhood-level data with consistent methodology across areas. | We used it to show what central Thessaloniki costs versus the city average. We illustrated the real neighborhood price spread buyers face. |
| Indomio Kalamaria | Major seaside municipality reported consistently by the portal. | We used it as a popular expat-friendly seaside pricing benchmark. We also analyzed its year-over-year change to discuss price acceleration. |
| Indomio Ampelokipoi | Budget-oriented municipality with explicit reference month and YoY data. | We used it to provide a budget neighborhood example for first-time buyers. We highlighted its 15%+ YoY growth as a trend indicator. |
| Indomio Stavroupoli | Large western area where affordability shows clearly in the data. | We used it to represent the budget end of the Thessaloniki market. We illustrated realistic first-time-buyer neighborhoods with this data. |
| Spitogatos Q3 2025 Report | One of Greece's biggest listing platforms with repeatable index methodology. | We used it as a second leg of our asking-price benchmark. We cross-checked it against Indomio's independent asking-price series. |
| AADE Transfer Tax | Greek tax authority, the definitive source for transfer tax rates. | We used it to calculate the biggest closing-cost line item. We rolled this into all-in budget examples for different apartment sizes. |
| Ministry of Finance ENFIA Guide | Government's official tax guide for annual property tax. | We used it to explain what ENFIA is and who pays it including foreigners. We provided practical euro ranges for typical Thessaloniki apartments. |
| Piraeus Bank Mortgages | One of Greece's systemic banks reflecting real retail lending terms. | We used it to anchor realistic maximum loan-to-value assumptions. We converted LTV into typical down payment ranges for foreign buyers. |
| PPC (DEI) Electricity Tariffs | Greece's dominant electricity supplier with publicly available rates. | We used it to convert electricity into monthly euro estimates. We combined it with water and internet for actionable utility budgets. |
| EYATH Water Tariffs | Official water and sewerage utility for greater Thessaloniki. | We used it to price water and sewer charges using the published structure. We translated this into realistic monthly ranges for normal households. |
| COSMOTE Internet Pricelist | Incumbent telecom operator with official published prices. | We used it to provide a baseline for home internet costs in Thessaloniki. We showed how this fits into total monthly apartment running costs. |
| Eurostat Energy Prices | EU's official statistics body with standardized energy price data. | We used it as a cross-check so our electricity budget stays realistic. We also explained why winter heating is the major swing factor in Greece. |
We created this infographic to give you a simple idea of how much it costs to buy property in different parts of Greece. As you can see, it breaks down price ranges and property types for popular cities in the country. We hope this makes it easier to explore your options and understand the market.
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