Real estate in Thessaloniki

Thessaloniki is located in the north of Greece. The climate here is Mediterranean, characterized by an abundance of sunny days a year, hot summers and mild winters.
The city is located on the shore of a thermal bay, which explains the high air humidity. Because of this, the heat in Thessaloniki in summer is stronger, and in winter it seems cooler than it actually is.

In terms of transport accessibility, Thessaloniki is not inferior to the capital of Greece - Athens. 15 km. from the city is the international airport of Macedonia, which receives both regular and charter flights - domestic and international. The port of Thessaloniki is the second most important port in Greece, serving cargo and passenger ships.
Thessaloniki is connected with other Greek cities by a large railway junction and two bus stations: KTEL Makedonias and KTEL Chalkidikis.

Before deciding whether to buy real estate in Thessaloniki, you need to decide on the objectives of its acquisition. For example, those who want to buy real estate for subsequent renting should definitely consider the northern capital. Firstly, it is a large tourist center, and secondly, two prestigious Greek universities are located here, as a result of which there are always many students in the city in search of housing.
Thessaloniki will definitely suit those who have decided to move to Greece for permanent residence. The reasons are obvious: it is the second largest city in Greece, which means it will be easier to adapt, get an education and find a job here. In addition, the infrastructure for life and recreation is well developed here. Finally, the city hosts many cultural events - exhibitions, festivals, concerts, theatrical premieres, etc. Life in Thessaloniki never stops, regardless of the time of year or day. And here you can decide where to choose real estate: in the epicenter of this life or in a quiet residential area, away from the bustle of the city.
But if you are interested in resort real estate, Thessaloniki is not the right choice. The city is located on the shores of the Aegean Sea, but since it is also a large port, there are no beaches here. But only half an hour away is the Halkidiki peninsula, where there are a huge number of resorts, and, accordingly, options for buying real estate.

Real estate prices in Thessaloniki, Greece largely depend on the location of your future home. For a correct assessment of real estate prices, Thessaloniki can be divided into three parts: western, center and eastern regions. In the western part of the city, prices are the most affordable. The cost of apartments and houses here is 1.5-2 times lower than in the center or eastern regions. The center, as in most cities, is quite expensive. The first line from the sea, Aristotle Square and Agia Sofia are especially appreciated. As for the eastern regions, prices are much higher here than in the west. The most expensive are Crini, Panorama and Constantinopolitan.
The most prestigious, and therefore the most expensive, is considered real estate in Thessaloniki on the first line (Nea Paralia, Krini and Leoforos Nikis street) and in the private sector (Panorama area).
On average in the city, in the secondary housing market, the cost of living space is 500 euros per square meter. m. Primary housing from the developer will cost about 1,000 euros per sq. m. m. When it comes to luxury housing, prices start at 2,000 euros per sq. m. m.

Thessaloniki is home to two of the largest Greek universities - the Aristotle University and the University of Macedonia. For many, this fact plays a decisive role in the decision to purchase real estate for subsequent lease. Thessaloniki is a city of students who flock here from all over Greece and other countries, because education in Greek universities is free, and their diplomas are highly valued and quoted throughout the European Union. And of course, they all rent apartments - usually for long-term rent.
Typically, students choose modest housing to save on utility bills. Studios and one bedroom apartments are highly prized. The proximity to the campus plays an important role in the selection of student housing. The most appreciated are the city center, the districts of Faliro, Nea Paralia, Ippokratio and the Delfon street area. The rent for such apartments, despite their modest size, is usually not much lower than the rent for 1-2 bedroom family apartments in the prestigious but remote eastern areas such as Kalamaria, Pilea or Constantinopolitica.
However, it is also quite profitable to rent apartments in areas remote from the campus, because Thessaloniki is the second largest city in Greece and an important economic center of the country. In addition, the infrastructure is well developed here and movement between any districts of the city will not be difficult. It is important to understand that apartments in the eastern part are much more expensive than in the western one. However, this applies not only to rent; as already mentioned, house prices in these areas are also very different.

The specifics of urban development in Thessaloniki presupposes maximum space savings, and therefore there are not so many private villas and townhouses in the city. The main type of real estate here is apartments in apartment buildings. The exceptions are areas such as Panorama or Oreokastro, as well as Fermi, located outside the city limits.
The cost of maintaining an apartment in Thessaloniki includes the annual property tax ΕΝΦΙΑ , electricity, water, heating, telephone and internet bills, and utility bills for house maintenance.
In the private sector, the costs are added to the maintenance of the local area, garden and pool, if any, security services, gardener, and, if desired, real estate insurance services.