Houses in Thessaloniki pricier than Athens

Some areas of high demand for holiday homes, especially from foreigners, along with some properties in the municipality of Thessaloniki, now appear to be more expensive than central Athens, with sale prices having recorded a significant rally in recent years.

Although a similar phenomenon had previously been observed in Athens, due to the explosion of demand from foreign investors, either to secure residence permits through the Golden Visa program or so as to utilize real estate through digital short-term rental platforms, the price increases have been smaller.

A typical example is the municipality of Thessaloniki. From the third quarter of 2019 to the third quarter of this year, the average asking price of residential sales increased by 83.5%, from 1,310 euros per square meter to €2,400/sq.m. today.

During the same period, the average asking price in the...