🧭 Why Thessaloniki?
Thessaloniki, Greece’s vibrant second city, offers an enticing blend of history, culture, seaside living, and lower real estate prices compared to Athens. With its student population, cultural festivals, and growing tourism sector, it’s an emerging market for property investment.
📌 Can Foreigners Buy Property in Thessaloniki?
Yes — EU and non-EU citizens can buy property in Thessaloniki. However, non-EU citizens may face additional requirements such as proving the property won’t be used for illegal purposes. For most urban areas like Thessaloniki, the process is straightforward.
📝 Legal Requirements
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Tax Number (AFM): Required before signing any contracts.
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Bank Account: Strongly recommended for transaction and utility payments.
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Notary Public & Lawyer: All sales must be finalized by a notary, and hiring a lawyer is highly recommended to conduct due diligence.
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Land Registry: After purchase, property must be registered with the National Cadastre.
💸 Property Prices & Market Trends
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Apartments (City Center): €1,500–€2,300/m²
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Suburbs or Older Buildings: €800–€1,200/m²
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Increasing demand from digital nomads, students, and investors is slowly pushing prices up, but Thessaloniki remains affordable compared to most EU cities.
🏠 Popular Neighborhoods
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Ano Poli (Old Town): Traditional, scenic, and quiet.
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Ladadika & Valaoritou: Trendy and lively, popular for short-term rentals.
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Kalamaria: Upscale seaside district with family-friendly amenities.
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Toumba: Residential, near universities, great for long-term rentals.
🧾 Golden Visa Eligibility
Buyers from non-EU countries can obtain a Greek residence permit by investing at least €250,000 in real estate in Thessaloniki (still part of the low-threshold regions in 2025).
⚠️ Pitfalls to Avoid
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Failing to verify building legality or zoning.
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Ignoring property tax history and outstanding utility bills.
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Not checking short-term rental regulations in each zone.
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Underestimating renovation costs for older properties.
📈 Investment Perspective
Thessaloniki is developing into a regional tech hub with strong logistics, education, and healthcare infrastructure. Rental yields can range from 3% to 6%, particularly for well-located short-term rentals.
💼 Need Help Buying in Thessaloniki?
Whether you’re buying a holiday home, relocating, or investing, our local legal experts ensure a secure, stress-free process from due diligence to final registration.
💬 Contact BorderlessLawyers.com
Let our experienced lawyers guide your real estate purchase in Thessaloniki — with full legal clarity, multilingual support, and investor-focused advice.