The housing market in Northern Greece continues its upward trend, with average asking prices for sales and rentals recording steady growth over the past five years, while interest from abroad remains strong.
Spitogatos Insights examined the real estate market in Northern Greece—specifically in Macedonia, Thrace, and Thessaloniki—focusing on the evolution of the Average Asking Prices (ASPs) for residential sales and rentals in recent years, as well as on emerging trends in the regional units and major cities of the region during the first quarter of 2026.
Thessaloniki has the highest ASPs for both residential sales and rentals among the three main geographic regions (Thessaloniki, Macedonia, and Thrace), while at the Regional Unit level, Chalkidiki stands out with the highest average transaction prices for both residential sales and rentals during the first quarter of 2026.
At the same time, international interest in residential properties in Northern Greece is growing, with the Thessaloniki suburbs, Chalkidiki, and the Municipality of Thessaloniki consistently ranking as the top choices for both home purchases and rentals.
Five Years of Growth: The Residential Market in Northern Greece by the Numbers
Spitogatos Insights focused on the evolution of the Average Asking Price (AAP) for home sales and rentals during the 2022–2026 period in Macedonia, Thrace, and Thessaloniki. More specifically, the ASP for residential properties for sale recorded an impressive 61% increase in Thessaloniki, while in the first quarter of 2026, the ASP for residential properties for sale in Thessaloniki stood at 2,300 €/sq. m. The average selling price of residential properties rose by 53.7% to €1,992 per square meter in Macedonia and by 38.3% in Thrace, where it stood at €1,500 per square meter in the first quarter of 2026.
The average monthly rent for residential properties also rose in Macedonia, Thessaloniki, and Thrace during the 2022–2026 period, with the most significant increase again recorded in Thessaloniki, where the average monthly rent for residential properties reached 7.0 €/sq. m. in 2022 while in the first quarter of 2026 it stood at 9.4 €/sq. m., marking a 34.3% increase, as clearly shown in the graph below.
Examining changes in asking prices at the Regional Unit level, the highest average residential sale prices for the first quarter of 2026 were recorded in: Chalkidiki at 2,716 €/m², the Municipality of Thessaloniki at 2,667 €/sq. m., and Kavala at 2,194 €/sq. m. Kavala recorded both the largest year-over-year increase in the first quarter of 2026 compared to the first quarter of 2025, at +13.3%, and the largest increase for the 2022–2026 period, at +68.1%.
Significant increases over the five-year period (Q1 2022–Q1 2026) were recorded in the Regional Municipalities of Thessaloniki as well as in the Municipality of Thessaloniki, at 65.2% and 59.4%, respectively. Two regional units in Macedonia stood out for the decline they recorded in the average sales price per square meter of residential properties over the past five years: Kastoria and Kozani.
In Thrace, the average residential sales price stood at 1,500 €/sq. m. in the first quarter of 2026, marking a 13.6% increase year-over-year. More specifically, at the regional unit level, the highest average sales prices were recorded in Evros at €1,778 per square meter and in Rodopi at €1,212 per square meter during the first quarter of 2026. The Evros Regional Unit stands out, recording both the largest annual increase and the largest overall increase for the 2022–2026 period, which amounts to 44.1%.
Residences for Rent in the Regional Units of Northern Greece
Properties for rent in Northern Greece show an increase in (MZT) during the 2022–2026 period. In contrast to homes for sale, where variations between geographic regions are more pronounced, changes in average monthly rent for rental homes are more moderate, with Thessaloniki consistently maintaining the highest average monthly rent for residential rentals.
Thessaloniki continues to record the highest average rental price, which stood at 9.4 €/sq. m. in the first quarter of 2026, compared to 8.8 €/sq. m. in the corresponding quarter of 2025, representing a year-over-year increase of 6.6%. Within the Thessaloniki Regional Unit, the Municipality of Thessaloniki recorded the highest average rental asking price at 10.4 €/sq. m.
In Macedonia, the average asking rent stood at 6.7 €/sq. m. in the first quarter of 2026, marking a year-over-year increase of 1.5%. At the Regional Unit level, the highest prices were recorded in the Regional Unit of Chalkidiki at 12.3 €/sq m, the Thessaloniki Regional Unit at €10.4/sq. m., and the Kavala Regional Unit at €7.2/sq. m.—areas where intense tourism and urban activity are driving rental prices upward. Kavala is indicative of this long-term trend, with a 31.3% increase in the average asking rent for residential properties over a five-year period.
The Regional Unit of Chalkidiki maintains the highest average asking price (AAP) for both residential sales and rentals among the Regional Units of Northern Greece. During the first quarter of 2026, the ASP for sales stood at 2,716 €/sq. m. and the ASP for rentals at 12.3 €/sq. m., while the ASP for sales recorded an increase of over 30% compared to the first quarter of 2022. Similarly, in Thrace, the average rental price stood at 7.7 €/sq m in the first quarter of 2026, representing a year-over-year increase of 7.7%. At the regional unit level, the highest average rental prices were recorded in Evros at 8.0 €/sq. m. and in Rodopi at 7.6 €/sq. m.
Trends in residential sales and rental prices in the largest cities of Northern Greece
Beyond the overall picture by Regional Unit, the trend in average transaction prices (ATPs) for sales in the largest cities of Northern Greece’s Regional Units is of particular interest. The breakdown of data at the city level for the first quarter of 2026 highlights the variations observed in local housing markets.
Alexandroupoli, with an average sales price of 2,000 €/sq. m., and Kavala, with an average sales price of 1,993 €/sq. m., rank among the highest average sales prices among the largest cities in the Regional Units of Northern Greece. Next are Komotini at 1,300 €/sq. m. and Xanthi at 1,282 €/sq. m., while prices exceeding 1,000 €/sq. m. are seen in Katerini at 1,108 €/sq. m., Serres at 1,047 €/sq. m., Drama at €1,000 per square meter, and Veroia at €1,000 per square meter. In contrast, the lowest average sales prices are recorded in Edessa at €958 per square meter, in Grevena at €937 per square meter, in Kilkis at 917 €/sq. m., in Kozani at 838 €/sq. m., in Giannitsa at 800 €/sq. m., in Kastoria at 793 €/sq. m., and in Florina at 773 €/sq. m.
Significant increases were also recorded in Alexandroupoli (51.3%) and Xanthi (45.3%). Also noteworthy is the slight decrease of -8.2% recorded in Kastoria over the past five years, with the average residential sales price standing at 793 €/sq. m. in the first quarter of 2026.
The largest cities in Northern Greece show notable variations both in terms of average rental prices and their rate of change. Data from the first quarter of 2026 reflect a rental market with varying dynamics by region, with some cities recording higher prices and others showing faster growth rates.
In the first quarter of 2026, Alexandroupoli recorded an average monthly rent of 9.0 €/sq. m., followed by Komotini at 7.6 €/sq. m. and Kavala at 7.3 €/sq. m.. Xanthi is at the same level, at 7.3 €/sq. m.
Kilkis is recording an impressive 62.5% increase in residential rental rates for the 2022–2026 period. This rise is linked, among other factors, to the more than doubling of the housing stock available for sale, a development that reflects broader momentum in the local real estate market.
Next is Alexandroupoli with a +44.0% increase, which also leads in absolute price terms (9.0 €/sq. m.), a fact that reflects the geopolitical dynamics and investments in the region that have bolstered demand. Among the largest cities in Northern Greece outside of Thessaloniki, is Katerini, with a 33.2% increase in the average monthly residential rent for the 2022–2026 period, reaching 6.2 €/sq m in the first quarter of 2026.
Northern Greece at the Center of International Interest
International interest in residential properties in Northern Greece remains strong in 2026, with first-quarter data showing an increase in interest in both purchasing and renting homes compared to the same period in 2025. This trend confirms that Northern Greece continues to be a major destination for prospective buyers from abroad.
Interest from abroad in purchasing residential properties in Northern Greece remained high during the first quarter of 2026, confirming the region’s enduring appeal. The geographic distribution of interest highlights the Regional Units and areas that are most preferred by international buyers.
The suburbs of Thessaloniki rank first in terms of international interest in purchasing residential property in Northern Greece, followed by Chalkidiki and the Municipality of Thessaloniki. Next in the ranking are the Regional Unit of Kavala, the Regional Unit of Pieria, and the rest of the Regional Unit of Thessaloniki. Rounding out the top ten are the Regional Units of Evros, Serres, Rodopi, and Xanthi, with interest from international buyers extending to both major urban centers and coastal and regional areas of Northern Greece.
Overall, data from the first quarter of 2026 show that international interest in purchasing residential property is concentrated primarily in the Thessaloniki metropolitan area and in Chalkidiki, while the Regional Units of Eastern Macedonia and Thrace also show strong interest, highlighting the broad geographic distribution of interest across Northern Greece.
Similarly, international interest in residential rentals in Northern Greece remained particularly strong during the first quarter of 2026. The suburbs of Thessaloniki also rank first in residential rentals, followed by the Municipality of Thessaloniki and Chalkidiki. The top ten also include the Regional Units of Kavala, Pieria, Serres, Evros, the rest of the Regional Unit of Thessaloniki, Xanthi, and Kozani. This picture suggests that interest in rentals is not limited to major urban centers but extends to the rest of Northern Greece as well.
Overall, data from the first quarter of 2026 show that Thessaloniki and Chalkidiki continue to be the main centers of international interest for both home purchases and rentals.
At the same time, the presence of regional units such as Kavala, Pieria, Evros, and Serres among the top rankings highlights the growing interest of international buyers in a broader range of areas in Northern Greece.
In terms of property type, international interest in Northern Greece during the first quarter of 2026 is focused primarily on apartments, both for purchase and for rental. Next are single-family homes and townhouses, which are also attracting significant interest from international buyers.