Thessaloniki Property Market and Real Estate Guide

(Thessaloniki, Central Macedonia, Greece)

Widely regarded as Greece's second city, Thessaloniki is a more satisfying place to live and work in than Athens. This is especially true for those who value culture and cosmopolitan charm, but could do without the intense traffic and crowds. Thessaloniki's attractive historic neighbourhoods are charming places to live.

Residential districts lie to the east of the city, where most of the locals live. The best commercial offerings are to the west. Locals commute, but it is also possible to find upmarket properties and luxury apartments in the heart of commercial Thessaloniki. On the outskirts of the city are traditional stone houses that usually need some attention, but offer all the charms of old-world Greece.

Greece has gone through financial turmoil recently, and property prices have dipped as a result. While it is appropriate to exercise caution, many investors believe property values will rebound in the next few years, resulting in generous gains.

Renting Serviced Apartments

As a well-equipped cosmopolitan city, Thessaloniki offers an excellent spread of serviced apartments. Some of these cater for holiday makers and extended-stay expatriates, while others target business travellers who won't be spending more than a few days or weeks in the city.

Prices vary considerably depending on location, but there are many affordable serviced apartments east of the city centre. Regardless of where they are located, these units come fully furnished and may include a few extras that you won't find in a regular hotel. The best weekly or monthly rates are available to those who sign a lease or pay up front.

Buying Apartments and Houses

Affordable family homes are found in the residential districts east of the city centre, while central Thessaloniki has a better selection of executive apartments and rental units housed in historic buildings. Prices are quite reasonable by European standards.

The property market in Thessaloniki is open to buyers from all over the EU, and there are few bureaucratic hurdles for citizens of any country in the union. Buyers from outside the EU have to make further arrangements, though they seldom encounter problems beyond filling in a little extra paperwork.

Real Estate Agents

As the second-most influential city in Greece, Thessaloniki has an excellent supply of real estate agencies. If you are a prospective buyer, you will likely want to shop around before settling on one agent. In some cases, the same property may listed by more than one agency at different prices, so it pays to have a look first.

Check out the following Thessaloniki real estate agents:

Axia Real Estate
Address: Al Svolou Street 31, Thessaloniki, 54622, Greece, GR
Tel: +30 2310 170 327
Axia Real Estate is located near the harbour and maintains an extensive portfolio.

ASPIS Real Estate
Address: 62 Kifissias Avenue, Maroussi, 15125, Greece, GR
Tel: +30 2106 106 560
ASPIS has a countrywide network of real estate agencies. The Thessaloniki branch is located a few blocks behind the ferry terminal.

Parthenon Real Estate
Address: 25 Politexnious Street, Thessaloniki, 54626, Greece, GR
Tel: +30 2310 220 111
This well-run agency employs English-speaking staff and has garnered a lot of attention since opening in 2002.