Thessaloniki property prices rise sharply on demand, infrastructure boost

Housing prices successful Thessaloniki proceed to climb, with yearly increases exceeding 10% successful caller years, according to a survey by Engel & Volkers Greece, driven by large infrastructure projects, strong overseas request and an upgraded lodging stock.

The gradual rollout of the city’s metro has importantly boosted spot values, peculiarly successful the historical halfway and Vardaris district. Additional projects, including the caller Pediatric Hospital successful Filyro and the redevelopment of the Thessaloniki International Fair, are expected to further heighten the city’s appeal.

Demand from planetary buyers is besides strengthening, supported by Thessaloniki’s increasing relation arsenic a hub for technology, acquisition and logistics. “Demand remains consistently high, while prices successful definite areas amusement yearly increases exceeding 10%. However, the marketplace is becoming much selective and differentiated,” said Engel & Volkers Greece CEO Giorgos Petras.

Prices vary widely by location. In the historical center, mean merchantability prices scope astir €3,500 per square metre beneath Egnatia Street, dropping to astir €2,300 supra it. Vardaris remains much affordable astatine astir €2,250 per square meter, attracting capitalist involvement owed to metro access.

In Kalamaria, where a metro hold is nearing completion, mean asking prices stand astatine €3,000 per square meter, rising to betwixt €3,400 and implicit €4,700 for caller seafront properties. High-end areas such arsenic Panorama bid adjacent higher values, averaging €3,300-€3,500 per square meter, with premium homes reaching €5,500 oregon more, and exceeding €6,000 for premier properties with unobstructed views.