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
If you're thinking about renting or investing in Thessaloniki, you're probably wondering what the current rental prices actually look like in Greece's second-largest city.
We constantly update this blog post so you always have access to fresh rental data for Thessaloniki in 2026.
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 rents have climbed around 8% to 10% year-over-year into early 2026, outpacing the broader EU average and reflecting strong local demand from students and young professionals.
- The rent gap between Thessaloniki's city center and its suburbs is significant, with Municipality areas averaging about €10.8 per square meter while suburbs sit closer to €8 per square meter.
- A correctly priced, renovated apartment in Thessaloniki typically rents within 30 days, but premium locations near Aristotle University or the waterfront can lease in under three weeks.
- Vacancy rates in Thessaloniki hover around 4%, dropping to as low as 3% in high-demand neighborhoods like Kalamaria and the city center.
- Late August through October is the peak rental season in Thessaloniki, driven largely by university students returning and post-summer job relocations.
- Furnished apartments in Thessaloniki command a rent premium of roughly 10% to 20%, appealing mainly to students and short-term professionals who want move-in-ready units.
- Landlords in Thessaloniki should budget between €250 and €650 per year for ENFIA property tax, depending on their apartment's size, zone, and objective value.
- Renovating a kitchen or bathroom in a Thessaloniki rental property delivers the strongest return on investment, often allowing landlords to raise rents by €50 to €100 per month.
- Neighborhoods near Aristotle University, such as Rotonda and Kamara, see properties rented within 15 to 25 days due to constant student demand throughout the academic year.
- Expats in Thessaloniki gravitate toward the city center around Aristotelous Square and Kalamaria, where English-friendly services and coastal living make daily life easier.
What are typical rents in Thessaloniki as of 2026?
What's the average monthly rent for a studio in Thessaloniki as of 2026?
As of early 2026, the average monthly rent for a studio apartment in Thessaloniki is around €360, which translates to approximately $380 USD.
Most studios in Thessaloniki fall within a realistic range of €300 to €450 per month (roughly $315 to $475 USD), depending on condition and location.
The main factors that cause studio rents to vary in Thessaloniki include proximity to the city center or university, whether the unit is renovated or furnished, and the floor level with elevator access.
What's the average monthly rent for a 1-bedroom in Thessaloniki as of 2026?
As of early 2026, the average monthly rent for a 1-bedroom apartment in Thessaloniki is around €520, which equals approximately $545 USD.
Most 1-bedroom apartments in Thessaloniki rent between €420 and €650 per month (roughly $440 to $685 USD), covering everything from basic units to well-renovated spaces.
The cheapest 1-bedroom rents in Thessaloniki tend to be in western suburbs and older buildings in areas like Stavroupoli, while the highest rents cluster around the city center, Kalamaria, and the waterfront corridor.
What's the average monthly rent for a 2-bedroom in Thessaloniki as of 2026?
As of early 2026, the average monthly rent for a 2-bedroom apartment in Thessaloniki is around €780, which equals approximately $820 USD.
Most 2-bedroom apartments in Thessaloniki fall within a range of €650 to €950 per month (roughly $685 to $1,000 USD), depending on size, renovation level, and amenities like parking.
The most affordable 2-bedroom rents in Thessaloniki are found in areas like Neapoli and the western districts, while premium rents appear in Kalamaria, Pylaia, and the renovated buildings along Nea Paralia and the Old Waterfront.
By the way, you will find much more detailed rent ranges in our property pack covering the real estate market in Thessaloniki.
What's the average rent per square meter in Thessaloniki as of 2026?
As of early 2026, the average rent per square meter in Thessaloniki Municipality is approximately €10.80, which equals about $11.35 USD, while suburban areas average closer to €8 per square meter ($8.40 USD).
Across different neighborhoods in Thessaloniki, rent per square meter ranges from around €7 in outer suburbs to €13 or more in premium waterfront and renovated city-center locations.
Compared to Athens, where central rents often exceed €12 to €14 per square meter, Thessaloniki remains more affordable while still being Greece's second most expensive rental market.
Properties in Thessaloniki that push rent per square meter above average typically feature recent renovations, efficient heating and cooling systems, upper floors with elevator access, and sea views or balconies.
How much have rents changed year-over-year in Thessaloniki in 2026?
As of early 2026, rents in Thessaloniki have increased by approximately 8% to 10% compared to the same period last year.
The main factors driving rent increases in Thessaloniki this year include strong demand from students and young professionals, limited new rental supply in central areas, and broader inflation pressures affecting housing costs across Greece.
This year's rent growth in Thessaloniki is slightly higher than the previous year's pace, which saw increases closer to 7% to 8%, reflecting continued tightening in the local rental market.
What's the outlook for rent growth in Thessaloniki in 2026?
As of early 2026, rent growth in Thessaloniki is projected to be between 4% and 7% over the coming year, with well-renovated and furnished units likely outperforming this average.
Key factors likely to influence Thessaloniki rent growth include continued strong demand from university students and young professionals, limited new construction in prime areas, and policy changes that encourage formal lease declarations.
Neighborhoods expected to see the strongest rent growth in Thessaloniki include Kalamaria, the city center around Aristotelous, and areas near Aristotle University where demand consistently outpaces supply.
Risks that could cause Thessaloniki rent growth to differ from projections include economic slowdowns affecting household incomes, unexpected increases in new housing supply, or policy shifts that change short-term rental regulations.
We have made this infographic to give you a quick and clear snapshot of the property market in Greece. It highlights key facts like rental prices, yields, and property costs both in city centers and outside, so you can easily compare opportunities. We’ve done some research and also included useful insights about the country’s economy, like GDP, population, and interest rates, to help you understand the bigger picture.
Which neighborhoods rent best in Thessaloniki as of 2026?
Which neighborhoods have the highest rents in Thessaloniki as of 2026?
As of early 2026, the neighborhoods with the highest average rents in Thessaloniki are Nea Paralia and the Old Waterfront corridor, the historic center around Aristotelous and Ladadika, and Kalamaria near Aretsou, where rents often reach €12 to €14 per square meter (approximately $12.60 to $14.70 USD).
These Thessaloniki neighborhoods command premium rents because of their waterfront views, renovated building stock, walkability to restaurants and nightlife, and access to quality services.
Tenants who typically rent in these high-rent Thessaloniki neighborhoods include well-paid professionals, expats seeking central locations, and couples or individuals who prioritize lifestyle and convenience over space.
By the way, we've written a blog article detailing what are the current best areas to invest in property in Thessaloniki.
Where do young professionals prefer to rent in Thessaloniki right now?
The top three neighborhoods where young professionals prefer to rent in Thessaloniki are the city center around Navarinou and Kamara, the Ladadika and Valaoritou area, and the closer-in parts of Kalamaria.
Young professionals in these Thessaloniki neighborhoods typically pay between €450 and €650 per month (approximately $475 to $685 USD) for a well-located 1-bedroom or studio apartment.
What attracts young professionals to these Thessaloniki areas is the walkability to offices and cafes, vibrant nightlife, short commutes, and access to the coastal promenade for evening runs or weekend relaxation.
By the way, you will find a detailed tenant analysis in our property pack covering the real estate market in Thessaloniki.
Where do families prefer to rent in Thessaloniki right now?
The top three neighborhoods where families prefer to rent in Thessaloniki are Kalamaria (especially Aretsou and Nea Krini), Pylaia, and Upper Toumba.
Families renting 2 to 3 bedroom apartments in these Thessaloniki neighborhoods typically pay between €700 and €1,100 per month (approximately $735 to $1,155 USD), depending on size and amenities.
What makes these Thessaloniki areas attractive to families includes larger apartment sizes, quieter streets, proximity to parks and playgrounds, and easier parking compared to the dense city center.
Top-rated schools near these family-friendly Thessaloniki neighborhoods include several well-regarded public schools in Kalamaria, private institutions in Pylaia, and international school options accessible from Thermi.
Which areas near transit or universities rent faster in Thessaloniki in 2026?
As of early 2026, the areas near transit and universities that rent fastest in Thessaloniki are Rotonda and Kamara near Aristotle University, the city center along Egnatia Street, and Toumba with its good bus connections.
Properties in these high-demand Thessaloniki areas typically stay listed for only 15 to 25 days when correctly priced and in good condition, compared to 30 days or more elsewhere.
The rent premium for properties within walking distance of Aristotle University or major transit routes in Thessaloniki is roughly €30 to €60 per month (approximately $30 to $65 USD) compared to similar units farther away.
Which neighborhoods are most popular with expats in Thessaloniki right now?
The top three neighborhoods most popular with expats in Thessaloniki are the city center around Aristotelous Square and Agias Sofias, Ladadika for those who enjoy nightlife, and Kalamaria for expats seeking calmer coastal living.
Expats in these Thessaloniki neighborhoods typically pay between €500 and €800 per month (approximately $525 to $840 USD) for a furnished 1-bedroom or small 2-bedroom apartment.
What makes these Thessaloniki areas attractive to expats includes English-friendly services, international restaurants and cafes, walkable streets, and good internet connectivity for remote workers.
The expat communities most represented in these Thessaloniki neighborhoods include professionals from Western Europe, digital nomads from various countries, and students or researchers connected to Aristotle University.
And if you are also an expat, you may want to read our exhaustive guide for expats in Thessaloniki.
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Who rents, and what do tenants want in Thessaloniki right now?
What tenant profiles dominate rentals in Thessaloniki?
The top three tenant profiles that dominate the rental market in Thessaloniki are university students, young professionals, and families seeking larger apartments in quieter areas.
In terms of market share, students account for roughly 35% to 40% of Thessaloniki rentals, young professionals make up about 30% to 35%, and families represent around 20% to 25% of the tenant base.
Students in Thessaloniki typically seek furnished studios or shared apartments near the university, young professionals look for renovated 1-bedroom units in walkable areas, and families prioritize 2 to 3 bedroom apartments with parking in neighborhoods like Kalamaria or Pylaia.
If you want to optimize your cashflow, you can read our complete guide on how to buy and rent out in Thessaloniki.
Do tenants prefer furnished or unfurnished in Thessaloniki?
In Thessaloniki, approximately 55% to 60% of tenants prefer unfurnished rentals, while 40% to 45% seek furnished apartments, with the split depending heavily on tenant type.
Furnished apartments in Thessaloniki typically command a rent premium of €50 to €100 per month (approximately $50 to $105 USD), or roughly 10% to 20% above comparable unfurnished units.
Tenant profiles that tend to prefer furnished rentals in Thessaloniki include students who need move-in-ready housing, expats on shorter assignments, and young professionals relocating from other cities who do not want to buy furniture.
Which amenities increase rent the most in Thessaloniki?
The top five amenities that increase rent the most in Thessaloniki are a renovated kitchen and bathroom, efficient heating and air conditioning, an elevator with a higher floor, a private parking space, and good insulation with double-glazed windows.
In terms of rent premiums in Thessaloniki, a renovated kitchen and bathroom can add €50 to €80 per month ($50 to $85 USD), efficient climate control adds €30 to €50 ($30 to $55 USD), elevator access with a higher floor adds €20 to €40 ($20 to $45 USD), parking adds €40 to €70 ($40 to $75 USD), and quality insulation adds €20 to €40 ($20 to $45 USD).
In our property pack covering the real estate market in Thessaloniki, we cover what are the best investments a landlord can make.
What renovations get the best ROI for rentals in Thessaloniki?
The top five renovations that get the best ROI for rental properties in Thessaloniki are kitchen upgrades, bathroom modernization, fresh paint with improved lighting, new flooring, and energy efficiency improvements like window replacement.
A kitchen renovation in Thessaloniki typically costs €3,000 to €6,000 ($3,150 to $6,300 USD) and can increase monthly rent by €40 to €70, a bathroom upgrade costs €2,000 to €4,000 ($2,100 to $4,200 USD) for a €30 to €50 rent bump, while paint and lighting at €500 to €1,500 ($525 to $1,575 USD) adds €20 to €40 to monthly rent.
Renovations that tend to have poor ROI and should be avoided by landlords in Thessaloniki include luxury finishes that exceed neighborhood standards, converting balconies into enclosed rooms without permits, and over-customized designs that limit tenant appeal.
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.
How strong is rental demand in Thessaloniki as of 2026?
What's the vacancy rate for rentals in Thessaloniki as of 2026?
As of early 2026, the estimated effective vacancy rate for rental properties in Thessaloniki is approximately 4%, indicating a tight market where available units rent quickly.
Across different Thessaloniki neighborhoods, vacancy rates range from around 3% in high-demand areas like the city center and Kalamaria to 5% or 6% in older buildings in western suburbs.
The current vacancy rate in Thessaloniki is below historical averages, reflecting the sustained demand pressure from students and young professionals that has characterized the market since 2022.
Finally please note that you will have all the indicators you need in our property pack covering the real estate market in Thessaloniki.
How many days do rentals stay listed in Thessaloniki as of 2026?
As of early 2026, rentals in Thessaloniki stay listed for an average of approximately 30 days when correctly priced and in good condition.
Across different property types and neighborhoods in Thessaloniki, days on market ranges from 15 to 25 days for renovated units near the university or waterfront, to 45 to 60 days or more for overpriced or poorly maintained apartments in less convenient locations.
The current days-on-market figure in Thessaloniki is slightly lower than one year ago, when average listing times were closer to 35 days, reflecting the continued tightening of the rental market.
Which months have peak tenant demand in Thessaloniki?
The peak months for tenant demand in Thessaloniki are late August through October, followed by a secondary wave in January and February, with a smaller bump in May and June.
The factors driving these seasonal demand patterns in Thessaloniki include university students returning for the academic year in September, job relocations after summer holidays, semester changes in January, and pre-summer moves for internships in May.
The months with the lowest tenant demand in Thessaloniki are typically November through December and July through mid-August, when students are on break and families postpone moving decisions.
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What will my monthly costs be in Thessaloniki as of 2026?
What property taxes should landlords expect in Thessaloniki as of 2026?
As of early 2026, landlords in Thessaloniki should expect to pay annual ENFIA property tax of approximately €250 to €650 (roughly $265 to $685 USD), which works out to about €20 to €55 per month.
The realistic range of annual property taxes in Thessaloniki varies from around €200 for smaller apartments in lower-value zones to €800 or more ($210 to $840 USD) for larger units in premium areas like Kalamaria or the waterfront.
ENFIA property tax in Thessaloniki is calculated based on the property's objective value, which depends on zone coefficients, building age, floor level, and size, all assessed as of January 1 each year.
Please note that, in our property pack covering the real estate market in Thessaloniki, we cover what exemptions or deductions may be available to reduce property taxes for landlords.
What utilities do landlords often pay in Thessaloniki right now?
In standard long-term rentals in Thessaloniki, landlords most commonly pay utilities only when offering furnished, move-in-ready apartments, which may include covering initial setup costs for electricity or internet connections.
When landlords do cover utilities in Thessaloniki, monthly costs typically run €80 to €150 ($85 to $160 USD) for electricity, €15 to €30 ($15 to $30 USD) for water, and €25 to €40 ($25 to $45 USD) for internet, depending on usage and plan.
The common practice in Thessaloniki is for tenants to pay electricity, water, internet, and often building common charges directly, with landlords covering utilities mainly for short-term or furnished rentals targeting students and expats.
How is rental income taxed in Thessaloniki as of 2026?
As of early 2026, rental income in Thessaloniki is taxed on a separate progressive scale, with rates of 15% on the first €12,000, 35% on income between €12,000 and €35,000, and 45% on amounts above €35,000.
The main deductions landlords can claim against rental income in Thessaloniki include ENFIA property tax, building maintenance contributions, certain repair costs, and interest on loans used to acquire the property.
A common tax mistake landlords in Thessaloniki should avoid is failing to declare leases through the AADE system, which requires submitting the tenant's tax number, property identification, and utility account details, as undeclared rentals can trigger penalties and back taxes.
We cover these mistakes, among others, in our list of risks and pitfalls people face when buying property in Thessaloniki.
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.
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 |
|---|---|---|
| Spitogatos Property Index | It's Greece's largest property portal with a long-running, transparent methodology for tracking asking prices and rents. | We used it as our primary source for asking rents per square meter in Thessaloniki Municipality and Suburbs. We converted these figures into typical monthly rents by applying common apartment sizes. |
| RE/MAX Greece | RE/MAX is a major brokerage network that publishes market snapshots based on real transaction activity. | We used it to cross-check Thessaloniki rent levels and identify premium micro-areas like the Old Waterfront. We treated it as a reality check against portal-only data. |
| ELSTAT CPI Publication | ELSTAT is Greece's official statistics authority, and its CPI rent components are the government's inflation benchmark. | We used it to anchor the broader rent inflation trend heading into 2026. We treated it as the official lens for national rent movements while estimating Thessaloniki levels from market data. |
| Eurostat Housing News | Eurostat is the EU's official statistical office and provides harmonized housing indicators across countries. | We used it to benchmark Thessaloniki dynamics against the wider EU rent trend. We treated it as context for why rents feel like they're rising quickly in Greece. |
| Eurostat Housing in Europe 2024 | It's an official Eurostat compilation of core housing indicators including tenure and affordability data. | We used it to frame tenant pressure and affordability in a comparable EU context. We treated it as support for why demand stays strong when affordability is stretched. |
| Bank of Greece Real Estate Report | The central bank is the top authority for macro and housing market monitoring in Greece. | We used it to understand housing momentum feeding into landlord decisions and supply. We treated it as the macro backbone for discussing 2026 rent growth drivers. |
| AADE ENFIA Guide | AADE is Greece's tax authority and administers the ENFIA property tax directly. | We used it to explain what ENFIA is and when it's assessed. We built realistic monthly landlord cost ranges based on this guidance. |
| Gov.gr Rental Management | Gov.gr is the official government portal describing legal and administrative rental processes in Greece. | We used it to describe how leases are declared and what information is required. We translated paperwork requirements into practical tenant and landlord expectations. |
| AADE Property Rental Statements | It's the tax authority's own operational guidance page for lease declarations. | We used it to support the proper steps landlords follow and why bank-traceable payments matter. We treated it as practical compliance context rather than a rent pricing source. |
| PwC Tax Summaries Greece | PwC is a top-tier tax advisory firm and maintains this reference with current rates and structure. | We used it to explain the rental income tax framework in simple terms for non-professionals. We avoided relying on blogs for tax rates by using this authoritative source. |
| KPMG Greece Tax Updates | KPMG is a major audit and tax firm, and this update is tied to specific 2025 legislation. | We used it to support that tax rules are changing entering 2026. We treated it as a signal for what's evolving rather than a rent data source. |
| EYATH Tariff Information | EYATH is Thessaloniki's official water utility, so its tariffs are the local reference point. | We used it to explain that water billing is local and tariff-based in Thessaloniki. We built the utilities section with this Thessaloniki-specific realism. |
| PPC Household Electricity | PPC is Greece's dominant electricity supplier and publishes its plans and terms directly. | We used it to anchor the reality that electricity is plan-based with variable pricing. We kept utility cost discussions tied to how bills are actually structured in Greece. |
| PPC myHome EnterTwo Plan | It's an official tariff plan page showing the kind of pricing structure households face in Greece. | We used it as a concrete example of what an electricity plan looks like. We avoided quoting unofficial tariff roundups by referencing this primary source. |
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