Buying real estate in Thessaloniki?

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Will real estate prices in Thessaloniki go up in 2025?

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Yes, the analysis of Thessaloniki's property market is included in our pack

Thinking about buying a 3-bedroom apartment in Ano Poli? It’s a great area, but you're probably wondering: is now the right time to buy, or should you wait for prices to drop?

And what about long-term investment—should you look into other neighborhoods like Kalamaria or Toumba where property values might appreciate more over time?

In this article, we’ll answer these questions. We know this market quite well - and we have put all our knowledge in the Thessaloniki Property Pack.

Will property prices increase in Thessaloniki in 2025?

Yes, property prices in Thessaloniki are expected to rise in 2025, driven by a combination of high demand and a limited supply of housing.

Backed by our fresh, in-depth market analysis, we’re confident that Thessaloniki remains an attractive city for both domestic and international investors.

While there are some economic challenges like inflation and rising interest rates, the main drivers behind Thessaloniki’s price growth remain strong.

Demand, especially in the central and coastal areas, continues to outpace supply, making significant price drops unlikely. Thessaloniki's cultural and economic significance in Greece also continues to attract buyers.

Signals pointing to a property price increase in Thessaloniki

Here are some factors suggesting prices could increase:

The ongoing urban regeneration projects in Thessaloniki are expected to enhance the city's infrastructure and appeal, leading to increased property values, particularly in revitalized neighborhoods.

Thessaloniki's strategic location as a gateway to the Balkans and its growing role as a logistics hub are attracting business investments, which in turn boost demand for commercial and residential properties.

The city's vibrant cultural scene and historical significance continue to draw tourists and expatriates, increasing demand for short-term rental properties and pushing up prices.

Government incentives for foreign investors, such as the Golden Visa program, are expected to continue attracting international buyers, particularly from non-EU countries, thereby increasing demand.

The expansion of Thessaloniki's port and related infrastructure projects are expected to boost the local economy, leading to job creation and increased demand for housing.

The anticipated stabilization of interest rates in Greece by 2025 could make financing more accessible, encouraging more buyers to enter the market.

A limited supply of new housing developments, particularly in desirable areas, is expected to keep competition high among buyers, driving up property prices.

Signals pointing to a property price decrease in Thessaloniki

Here are some factors suggesting prices could fall:

Economic uncertainties, including potential fluctuations in the Greek economy, could impact buyer confidence and reduce demand for properties.

Rising inflation and living costs may strain household budgets, making it more challenging for local buyers to afford property purchases, particularly in the mid-range market.

Higher mortgage interest rates could deter potential buyers, especially those looking to purchase their first home or invest in additional properties, potentially cooling demand.

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If property prices go up in Thessaloniki, how much would they increase by?

If real estate prices in Thessaloniki were to rise in 2025, the increase would likely be around 3% to 7% of their 2024 values.

Typically, real estate in emerging markets like Thessaloniki appreciates by approximately 3% to 7% annually over the long term. However, fluctuations can occur depending on factors such as region, season, and property type.

It means that, if you spot a charming 2-bedroom apartment in the city center for 150,000 euros today, don't be surprised if it's priced between 154,500 and 160,500 euros this time next year.

To give you a better understanding, here is a table that shows 7 types of Thessaloniki real estate properties, their estimated prices in 2024, and projections for 2025 based on potential price increases of 3%, 5%, and 7%.

Type of Property Average Price in 2024 (€) Price in 2025 (3% increase) Price in 2025 (5% increase) Price in 2025 (7% increase)
City Center Apartment (60 sqm / 646 sqft) €150,000 €154,500 €157,500 €160,500
Suburban Apartment (75 sqm / 807 sqft) €200,000 €206,000 €210,000 €214,000
Luxury Penthouse (100 sqm / 1,076 sqft) €500,000 €515,000 €525,000 €535,000
Studio (30 sqm / 323 sqft) €80,000 €82,400 €84,000 €85,600
Loft (80 sqm / 861 sqft) €250,000 €257,500 €262,500 €267,500
Townhouse (150 sqm / 1,615 sqft) €400,000 €412,000 €420,000 €428,000
Investment Property (50 sqm / 538 sqft) €120,000 €123,600 €126,000 €128,400

Everything you need to know is included in our Property Pack for Thessaloniki

If real estate prices go up in Thessaloniki, which areas are likely to see the biggest increases?

Today, people who want to move to Thessaloniki are looking for a blend of historical charm and modern amenities, which Valaoritou offers. Hence, we could see a price increase there in 2025.

Additionally, there's been a growing interest in youthful, vibrant neighborhoods, and Ladadika has really taken off.

We like it when information is clear and easy to digest. So, here’s a table that highlights the areas where prices might rise the most, along with the reasons behind those expected increases. It’s very high-level. If you want more details on a specific area, please check our real estate pack tailored to the Thessaloniki market.

Neighborhood Level of Increase Why
Valaoritou High Recent development of luxury housing projects and its increasing appeal to international buyers as travel normalizes post-pandemic, driving demand.
Ano Poli High Expected rise due to limited housing stock, upcoming renovations to heritage buildings, and growing demand for prime properties in central Thessaloniki.
Ladadika Medium-High Ongoing gentrification and new transport links, along with several planned redevelopment projects in the area, are likely to push prices higher.
Kalamaria Medium The shift towards hybrid workspaces is driving demand for residential properties near business districts, combined with new mixed-use developments.
Toumba Medium-High Eco-friendly urban projects and recent construction of new schools and parks are increasing its attractiveness for families, pushing prices upward.
Nea Paralia Medium Investment in local infrastructure, such as the extension of tram lines and renovation of historic areas, is boosting long-term value.
Rotunda Medium-High With new cultural and commercial spaces being developed, this trendy neighborhood is seeing increased demand from both residents and investors.
Tsimiski High Upcoming large-scale urban regeneration projects and improved public transport access are expected to make this area more desirable.
Panorama Medium-High Its proximity to Thessaloniki, along with new office and residential developments, makes it increasingly attractive to professionals seeking more space.
Charilaou Medium Gentrification and cultural regeneration projects are attracting new residents, leading to rising prices as the area becomes more fashionable.
Thermi High As new luxury developments are launched, demand for premium housing among wealthy buyers is expected to further increase property values.
White Tower Area High Upcoming restoration of historic sites and high-profile cultural projects are driving a renewed focus on this central, historic location.

If I'm looking to invest in real estate, what types of properties should I focus on for the best value appreciation in Thessaloniki?

In 2025, Thessaloniki real estate trends focus on tech-smart, energy-efficient apartments, larger suburban homes for families, properties with outdoor spaces, and eco-friendly buildings—all driving higher demand and prices. Here is a summary.

  • Tech-Equipped and Energy-Efficient Apartments:

    Driven by remote work and sustainability trends, these homes offer smart technology features and energy-saving systems. They cater to young professionals and tech workers, making them a hot commodity in 2025.

  • Family-Sized Apartments in Suburban Areas:

    With a growing demand for larger living spaces, especially among families, suburban areas near Thessaloniki are seeing increased interest. Proximity to green spaces and schools is a major factor driving value.

  • Properties with Outdoor Spaces:

    Post-pandemic, outdoor spaces like terraces, balconies, or gardens have become highly desirable. In dense cities like Thessaloniki, these features offer a much-needed escape and are likely to drive up property values.

  • Eco-Friendly Buildings with Low Carbon Footprints:

    Thessaloniki's commitment to sustainability is boosting demand for eco-certified buildings. Buyers are increasingly valuing properties that align with the city’s green goals, leading to price appreciation in this category.

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