The residential real estate market in Northern Greece continues to rise in price amid high demand from foreign buyers, who are primarily interested in apartments in Thessaloniki, the Chalkidiki Peninsula, and the coastal regions of Thrace, according to a study by Spitogatos Insights for the first quarter of 2026.
According to the study, between 2022 and 2026, average home prices in Thessaloniki rose by 61% to 2,300 euros per square meter. In Macedonia (a region of Greece), the figure rose by 53.7% to 1,992 thousand euros per square meter, and in Thrace, it rose by 38.3% to 1,5 thousand euros per square meter.
Chalkidiki remains the most expensive market in Northern Greece, where the average housing price in the first quarter of 2026 reached 2,716 thousand euros per square meter. The municipality of Thessaloniki came very close to this level at 2,667 thousand euros per square meter, while Kavala led in growth over the past five years—up 68.1% to 2,194 thousand euros per square meter.
In the rental market, Thessaloniki also remains the largest center of demand: the average rent has risen by 34.3% since 2022, to 9.4 euros per square meter per month. In the municipality of Thessaloniki itself, rent reaches 10.4 euros per square meter, and in Chalkidiki—12.3 euros per square meter, due to the strong influence of tourism.
Foreign buyers most often consider the suburbs of Thessaloniki, Chalkidiki, the municipality of Thessaloniki itself, Kavala, and Pieria. The top ten destinations most in demand among foreign buyers also include Evros, Serres, the Rhodopes, and Xanthi.
Apartments are the main focus of demand from foreign buyers. They lead the way in both the purchase and rental segments. Detached houses and townhouses follow in terms of interest.
According to analysts’ estimates, foreign capital is gradually moving beyond major cities and penetrating more actively into the coastal and border regions of Eastern Macedonia and Thrace.
The published materials do not provide data on the nationalities of foreign buyers.
