Thessaloniki real estate market — prices, rental yield and trend
- Average price: $3,022 / m²
- Gross rental yield: 4.41%
- 12-month price change (USD): -0.2%
- Net rental yield: 3.61%
- Transaction cost: 12.1%
- Price basis: local-market average
Residential property in Thessaloniki averages $3,022 per square metre. In dollar terms the market has barely moved over the last twelve months (-0.2%). That makes it the 76th most expensive of the 131 markets in the set.
What a buyer pays in Thessaloniki
The $3,022 figure is a local-market average across all residential property types: a flat in a prime district sits well above it, an older unit on the edge of the market well below. Buying costs — transfer tax or stamp duty, notary, registration and agency — come to about 12.1% of the price here. On a 100 m² apartment at the average price that is roughly $36,562 on top of the $302,168 purchase price. That is above the 9.5% median across the set — the entry cost is part of the investment case here. That is 6.2% below the Greece national average of $3,221. Among the other Greece markets we track, Athens at $3,278 is 7.8% dearer.
What it earns
A square metre lets for about $11.1 a month. Against a purchase price of $3,022 per square metre that is 4.4% gross, before tax. Both figures come from the same source and the same period, so you can check the arithmetic yourself. It ranks 111th of 151 markets by gross yield. Rental income is taxed at 14.3–21.9% — the rate is not a single number here. That is the difference between 3.4% and 3.8% net on the same property. The 3.6% net figure we publish uses 18.1%.
How the tax works. Progressive: a 5% automatic maintenance deduction (ITC art. 39(3)(a)) and then the art. 40 rental scale, which from 1 January 2026 has a new 25% bracket between €12,000 and €24,000 (Law 5246/2025) in place of the former jump to 35%. That gives 14–22% across typical rent levels; tables from before 2026 overstate the burden. Source: PwC Greece / WTS.
Who can buy in Thessaloniki
Freehold; non-EU buyers need approval in border zones. That is the rule a foreign buyer meets first, not legal advice — check the current position locally before you commit.
How this figure is built
The price figure for Thessaloniki is built from asking prices from listings. It was last refreshed on 2026-10-15. We rate our confidence in this market’s data medium: the series is usable, but thinner or less current than our best-covered markets. We recompute every market the same way, which is what lets Thessaloniki be compared with a country average or another city.
Sources: Indomio.gr (Spitogatos Group) Thessaloniki Municipality price + rent, Sep 2026 · indomio.gr · euro2day.gr. Snapshot: 2026-10-15.
Latest Thessaloniki market analysis
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