Investing in Thessaloniki property 2026: prices, areas, yields and what to know
A flat in Thessaloniki as an investment: what a square metre costs in each area, what renting out brings in, what the new metro changes, the Airbnb limits in the centre, the Golden Visa, and how Israelis buy.
- The average asking price in Thessaloniki prefecture was about €2,398/m² in August 2026, about 25% below the Attica average.
- Average gross rental yield in Thessaloniki is about 4.2%, lower than in Athens (about 5.5%). One-bedroom flats yield more.
- In the historic centre new flats cannot be registered for Airbnb, according to the government until the end of 2027.
Thessaloniki is cheaper than Athens, and its prices rose faster over the past year according to Spitogatos. But the average rental yield is lower, and you cannot start a new Airbnb in the centre. It mainly suits long-term letting to students or families, or a flat for your own use.
Why are Israelis looking at Thessaloniki?
Thessaloniki is Greece's second city, with more than a million people in the metro area, the country's largest university (Aristotle), a major port and an airport expected to set a record of about 8.2 million passengers in 2026. There are direct flights from Israel, including a Haifa route that will keep running through the winter. Israelis also have a historic link to the city: for centuries it was one of Europe's largest Jewish communities. The Jewish history of Thessaloniki.
Thessaloniki property prices 2026
| Area | Asking price per m² | Source and date |
|---|---|---|
| Thessaloniki prefecture average | €2,398 | Indomio, August 2026 |
| Thessaloniki municipality | €2,673 | Indomio, August 2026 |
| Suburbs | €2,216 | Indomio, August 2026 |
| Kalamaria (priciest in the prefecture) | €3,175 | Spitogatos, Q2 2026 |
| Mygdonia (cheapest in the prefecture) | €938 | Spitogatos, Q2 2026 |
| Attica average, for comparison | €3,201 | Indomio, August 2026 |
Trend: according to Spitogatos, asking prices in Thessaloniki rose 7.7% in a year (Q2 2026), compared with 5.3% in Athens. The suburbs rose especially fast: 11% a year according to Indomio. According to the Bank of Greece, which measures valuations rather than listings, Thessaloniki prices rose 4.7%.
Areas of Thessaloniki: what's the difference?
According to figures presented in June 2026 by the agencies Engel & Völkers and DANOS in Thessaloniki (market estimates, not an official index):
- Below Egnatia (Εγνατία), near the sea: the prestige zone, around €3,500/m².
- Above Egnatia: about €2,200/m².
- Kalamaria: about €3,000/m², and up to about €4,700 for new builds.
- Pylaia and Thermi (Θέρμη): eastern family areas, about €3,700 and €3,000/m².
- Panorama: an upmarket hillside area, about €4,200/m².
- The west of the city (for example Evosmos): cheaper, about €1,900/m².
What does a rental flat in Thessaloniki bring in?
- Asking rent: on average about €9.26/m² a month in the prefecture and about €9.90 in the municipality (Indomio, August 2026). Rents rose 6.6% in a year (Spitogatos).
- Gross yield: about 4.2% on average, and about 4.8% for one-bedroom flats (Global Property Guide, Q2 2026). The Athens average is about 5.5%.
- Who rents: it is a big student city, with steady demand for small flats near the universities. Student rents in Greece.
Gross yield is before rental income tax (15% up to €12,000 a year), ENFIA, building charges, maintenance and empty months.
Airbnb in Thessaloniki: what is allowed
- The historic centre is closed to new registrations: in Thessaloniki's First Municipal Community, from Aristotelous Square along Egnatia and Tsimiski, including Ladadika and the waterfront to the White Tower, new short-term rental registrations are not possible. According to the government's September 2026 announcement, the freeze will run until the end of 2027.
- An existing registration does not pass to the buyer: when a registered flat in this zone is sold or inherited, the registration is deleted.
- Outside the centre: you can register with a registration number (ΑΜΑ) and meet the safety requirements.
If you are buying in Thessaloniki for Airbnb, check the exact address before you sign.
The new metro
- Line 1 opened on 30 November 2024, with 13 stations within the city.
- Line 2, to Kalamaria, opened on 27 August 2026, with 5 more stations to Mikra.
- Planned: an extension to the airport.
The metro greatly improves access in the east of the city and in Kalamaria. According to Spitogatos, Kalamaria is already the most expensive area in the prefecture.
The Golden Visa in Thessaloniki
Thessaloniki is in the top tier: you need a single property of at least €800,000 and 120 m². Further out in Central Macedonia the tier is €400,000, but check with a lawyer exactly where the line falls. Golden Visa guide.
How Israelis buy a flat in Thessaloniki
The process is the same as anywhere in Greece: Greek tax number, bank account, lawyer, property checks, preliminary contract, notary and cadastre registration. Costs on top of the price are about 6–9%. Thessaloniki itself is not a border area, but the neighbouring prefecture of Kilkis is.
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FAQ
How much does a flat cost in Thessaloniki?
The average asking price in Thessaloniki prefecture was about €2,398/m² in August 2026, and about €2,673 within the municipality (Indomio). In Kalamaria, the priciest area in the prefecture, about €3,175/m² (Spitogatos).
Is Thessaloniki property a good investment?
It depends on your goal. Prices are lower than in Athens and rose fast over the past year, but the average rental yield is lower (about 4.2% gross), and Airbnb in the centre is closed to new registrations.
Can I run an Airbnb in a Thessaloniki flat?
Outside the historic centre, yes, with a registration number. In the centre (the First Municipal Community) new flats cannot be registered, according to the government until the end of 2027.
How much do I need to invest for a Golden Visa in Thessaloniki?
At least €800,000, in a single property of at least 120 m², the same as in Athens.
Which area of Thessaloniki is most sought after?
According to Spitogatos, Kalamaria is the most expensive area in the prefecture. The zone below Egnatia near the sea, Panorama and Pylaia in the east are also considered in demand.
Are there direct flights from Israel to Thessaloniki?
Yes. In winter 2026–2027 a direct Haifa route is also expected to operate. Check the current schedule before planning.
How does Thessaloniki compare with Athens for investment?
In Thessaloniki the price per m² is about a quarter below the Attica average, but the average rental yield is lower. Athens is a bigger market, with more tourism and more foreign buyers.
This is general information, not investment, legal or tax advice. Prices are averages for the dates shown.
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