Thessaloniki
Greece's second city; cosmopolitan port city; strong student and business base
* Exchange rates shown for illustration only, based on ECB mid-market rate. Actual transactions may be subject to conversion fees.
Local STR Rules — Thessaloniki
March 2026 freeze: 1st Municipal Community / historic-commercial center; registration window open only until end Feb 2026
Market Analysis — Thessaloniki
Key demand drivers and main investment risks
✅Demand Drivers
- •7.98M airport passengers
- •Aristotle University large student base
- •€16k median annual STR revenue
⚠️Key Risks
- •March 2026 freeze hits core STR zone
- •lower ADR than Athens and islands
- •Oct-2025 compliance costs
🇮🇱 Notes for Israeli investors
Named alongside Athens as market where Israelis were leading foreign buyers in 2025
Properties in Thessaloniki
1414 for sale·886 for rent
Properties for Sale in Thessaloniki
Latest Listings
Showing 1–12 of 50 listings
Apartment · 77 m² in Toumba
Apartment · 93 m² in Pylaia
Apartment · 86 m² in Pylaia
Apartment · 125 m² in Toumba
Apartment · 50 m² in Pylaia
Apartment · 90 m² in Toumba
Apartment · 140 m² in Toumba
Apartment · 57 m² in Ano Poli
Apartment · 65 m² in Toumba
Apartment · 120 m² in Toumba
Studio · 32 m² in Toumba
Apartment · 60 m² in Pylaia
Yield by Neighborhood — Thessaloniki
Microzone investment comparison — CASABROVA
| Neighborhood | Price/m² | STR Yield | STR Status | Character |
|---|---|---|---|---|
| Toumba | €2,800–€3,200 (₪9,504–₪10,861) | 6%–8% | N/A | Residential neighborhood in Thessaloniki |
| Ladadika | €2,800–€3,200 (₪9,504–₪10,861) | 6%–8% | N/A | Entertainment neighborhood in Thessaloniki |
| Pylaia | €2,800–€3,200 (₪9,504–₪10,861) | 6%–8% | N/A | Suburb of Thessaloniki |
| Ano Poli | €2,800–€3,200 (₪9,504–₪10,861) | 6%–8% | N/A | Upper town of Thessaloniki |
| Kalamaria Center coastalresidentialltr | €2,200–€2,900 (₪7,467–₪9,843) | 5%–7% | License Required National AMA; coastal suburb; outside freeze | More residential/coastal; LTR + furnished mid-term; outside freeze zone |
| Historic Center / Ladadika historictourismnightlife | €2,800–€3,500 (₪9,504–₪11,880) | 6%–8% | STR Restricted 🟡 March 2026 freeze on 1st Municipal Community; registration window closed end Feb 2026 | Best pure-center tourism; nightlife; office-core exposure; freeze from March 2026 |
| Kamara-Rotonda / TIF-University studentuniversitywalkable | €2,500–€3,200 (₪8,486–₪10,861) | 6%–7% | License Required National AMA; outside 1st Municipal Community freeze | Strong student/academic demand; central walkability; outside freeze zone |
| Kalamaria | €2,800–€3,200 (₪9,504–₪10,861) | 6%–8% | N/A | Residential suburb in Thessaloniki |
Yield and price ranges are internal AI-research estimates from public real-estate portals (Tranio, Investropa, Globes, etc.), refreshed quarterly. Not primary-source data.
Investment Areas in Thessaloniki
Toumba
Residential neighborhood in Thessaloniki
Price from €2,800/m² (₪9,504/m²)
Ladadika
Entertainment neighborhood in Thessaloniki
Price from €2,800/m² (₪9,504/m²)
Pylaia
Suburb of Thessaloniki
Price from €2,800/m² (₪9,504/m²)
Ano Poli
Upper town of Thessaloniki
Price from €2,800/m² (₪9,504/m²)
Kalamaria Center
More residential/coastal; LTR + furnished mid-term; outside freeze zone
Price from €2,200/m² (₪7,467/m²)
Historic Center / Ladadika
Best pure-center tourism; nightlife; office-core exposure; freeze from March 2026
Price from €2,800/m² (₪9,504/m²)
Kamara-Rotonda / TIF-University
Strong student/academic demand; central walkability; outside freeze zone
Price from €2,500/m² (₪8,486/m²)
Kalamaria
Residential suburb in Thessaloniki
Price from €2,800/m² (₪9,504/m²)
Editorial | CASABROVA
All articles →Global Investor Briefing — May 2026
Scores were stable this month — the real stories are a generational currency window for shekel buyers, Greece emerging as a withdrawal candidate while Spain surprisingly holds at peak, and three markets moving from correction into recovery.
Regulation on Steroids: Why Greece is Pushing Investors Away (And Why Cyprus is the Answer)
Greece has entered a phase of "regulation on steroids," systematically dismantling the very incentives that saved its real estate market a decade ago. Smart money is crossing the Mediterranean to Cyprus.
The Silent Wealth Migration: Capital Flight from the UK to Cyprus and the UAE
The UK Non-Dom regime is dead. CASABROVA tracks where UHNWI capital is flowing — and the luxury property squeeze it will trigger in Cyprus and Dubai.
Service Providers in Thessaloniki
Lawyers, brokers, property managers, contractors
View all providers→Market Review — Thessaloniki
Thessaloniki is Greece's second city and offers the best value-to-yield ratio in the Greek market. At €2,200–3,500/sqm, prices sit well below Athens, while STR yields of 5–8% in the waterfront and Ladadika districts hold up against the capital. The large Aristotle University student population provides deep long-term-rental demand at 4–4.5%.
As a Zone A city, Thessaloniki's Golden Visa threshold is €800,000 — the same high-demand tier as Athens. The city's growing tech sector, EU regional office presence, and newly opened metro system are structural growth catalysts. Foreign investor interest is rising sharply.
Key considerations: Greece's 35% marginal rental income tax is high, but actual effective rates are lower after deductions. Thessaloniki's seasonality is less pronounced than islands — the city functions year-round as a business and cultural hub. Golden Visa thresholds have risen before (notably in Zone A), so timing matters.
Last updated: June 20, 2026
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