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Housing prices in Thessaloniki continue to climb, with annual increases exceeding 10% in recent years, according to a survey by Engel & Volkers Greece, driven by major infrastructure projects, strong foreign demand and an upgraded housing stock.<\/p>\n
The gradual rollout of the city\u2019s metro has significantly boosted property values, particularly in the historic center and Vardaris district. Additional projects, including the new Pediatric Hospital in Filyro and the redevelopment of the Thessaloniki International Fair, are expected to further enhance the city\u2019s appeal.<\/p>\n
Demand from international buyers is also strengthening, supported by Thessaloniki\u2019s growing role as a hub for technology, education and logistics. \u201cDemand remains consistently high, while prices in certain areas show annual increases exceeding 10%. However, the market is becoming more selective and differentiated,\u201d said Engel & Volkers Greece CEO Giorgos Petras.<\/p>\n
Prices vary widely by location. In the historic center, average sale prices reach around \u20ac3,500 per square meter below Egnatia Street, dropping to about \u20ac2,300 above it. Vardaris remains more affordable at roughly \u20ac2,250 per square meter, attracting investor interest due to metro access.<\/p>\n
In Kalamaria, where a metro extension is nearing completion, average asking prices stand at \u20ac3,000 per square meter, rising to between \u20ac3,400 and over \u20ac4,700 for new seafront properties. High-end areas such as Panorama command even higher values, averaging \u20ac3,300-\u20ac3,500 per square meter, with premium homes reaching \u20ac5,500 or more, and exceeding \u20ac6,000 for prime properties with unobstructed views.<\/p>\n<\/p><\/div>\n