The housing market in Northern Greece continues its upward course, with Average Asking Prices (AAP) for sales and rentals recording a continuous increase over the last five years, while interest from abroad remains strong.
Spitogatos Insights examined the real estate market in Northern Greece and more specifically in Macedonia, Thrace, and Thessaloniki, focusing on the evolution of Average Asking Prices (AAP) for residential sales and rentals in previous years as well as the trends taking shape in the Regional Units and the largest cities of the area during the 1st quarter of 2026.
Thessaloniki records the highest AAPs in both residential sales and rentals among the three main geographical areas (Thessaloniki, Macedonia and Thrace), while at the level of Regional Units, Halkidiki stands out with the highest AAPs in both residential sales and rentals during the 1st quarter of 2026.
At the same time, international interest in homes in Northern Greece is strengthening, with the Suburbs of Thessaloniki, Halkidiki and the Municipality of Thessaloniki consistently attracting the highest preference for buying and renting a home.
Five years of growth: The housing market in Northern Greece in numbers
Spitogatos Insights focused on the evolution of the Average Asking Price (AAP) for residential sales and rentals during the period 2022-2026 in Macedonia, Thrace and Thessaloniki. More specifically, the AAP for homes for sale recorded an impressive increase of 61% in Thessaloniki, while in the 1st quarter of 2026 the AAP for homes for sale in Thessaloniki amounts to €2,300/sq.m. The AAP for homes for sale increased by 53.7% and stood at €1,992/sq.m. in Macedonia and by 38.3% in Thrace, where it stood at €1,500/sq.m. in the 1st quarter of 2026.
The AAP for residential rentals also followed an upward trend in Macedonia, Thessaloniki and Thrace during the period 2022-2026, with the most significant increase once again recorded in Thessaloniki, where in 2022 the AAP for residential rentals stood at €7.0/sq.m., while in the 1st quarter of 2026 it was recorded at €9.4/sq.m., marking an increase of 34.3%, as clearly shown in the chart below.
Examining changes in asking prices at the Regional Unit level, the highest residential sale AAPs for the 1st quarter of 2026 are recorded by: Halkidiki with €2,716/sq.m., the Municipality of Thessaloniki with €2,667/sq.m. and Kavala €2,194/sq.m. Kavala records both the largest annual increase in the 1st quarter of 2026 compared with the 1st quarter of 2025, at +13.3%, and the largest increase over the 2022-2026 period, at +68.1%.
Significant increases over a five-year period (1st quarter 2022-1st quarter 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 R.U.s of Macedonia stood out for the decline they recorded in the AAP for residential sales over the last five years, namely Kastoria and Kozani.
In Thrace, the AAP for residential sales amounts to €1,500/sq.m. in the 1st quarter of 2026, recording an annual increase of 13.6%. More specifically, at the Regional Unit level, the highest sale AAPs are recorded by Evros at €1,778/sq.m. and Rodopi at €1,212/sq.m. in the 1st quarter of 2026. The R.U. of Evros stands out, as it records both the largest annual increase and the largest total increase over the 2022 - 2026 period, which amounts to 44.1%.
Homes for rent in the R.U.s of Northern Greece
Homes for rent in Northern Greece show an increase in (AAPs) during the period 2022 -2026. In contrast to homes for sale, where the differences between geographical areas are more pronounced, in rental homes, changes in AAPs appear milder, with Thessaloniki steadily maintaining the highest residential rental AAPs.
Thessaloniki continues to record the highest rental AAP, which stands at €9.4/sq.m. in the 1st quarter of 2026, compared with €8.8/sq.m. in the corresponding quarter of 2025, showing an annual increase of 6.6%. At the level of the Regional Unit of Thessaloniki, the Municipality of Thessaloniki records the highest rental AAP at €10.4/sq.m.
In Macedonia, the average asking rental price (AAP) stood at €6.7/sq.m. in the 1st quarter of 2026, recording an annual increase of 1.5%. At the Regional Unit level, the highest prices are recorded by the R.U. of Halkidiki at €12.3/sq.m., the R.U. of Thessaloniki at €10.4/sq.m. and the R.U. of Kavala at €7.2/sq.m., areas where intense tourist and urban activity pushes rental prices upward. Indicative of this long-term momentum is Kavala, with a 31.3% rise in the AAP for residential rentals over a five-year period.
The R.U. of Halkidiki maintains the highest Average Asking Price (AAP) in both residential sales and rentals among the Regional Units of Northern Greece. During the 1st quarter of 2026, the sale AAP stands at €2,716/sq.m. and the rental AAP at €12.3/sq.m., while the sale AAP records an increase of more than 30% compared with the 1st quarter of 2022. Correspondingly, in Thrace, the rental AAP stands at €7.7/sq.m. in the 1st quarter of 2026, showing an annual increase of 7.7%. At the Regional Unit level, the highest rental AAPs are recorded by Evros at €8.0/sq.m. and Rodopi at €7.6/sq.m.
The evolution of residential sale and rental AAPs in the largest cities of Northern Greece
Beyond the overall picture by Regional Unit, the evolution of sale (AAPs) in the largest cities of the Regional Units of Northern Greece is of particular interest. The presentation of the data at city level for the 1st quarter of 2026 highlights the differences recorded in local housing markets.
Alexandroupoli with an AAP of €2,000/sq.m. and Kavala with an AAP of €1,993/sq.m. record some of the highest sale AAPs among the largest cities of the Regional Units of Northern Greece. They are followed by Komotini with €1,300/sq.m. and Xanthi with €1,282/sq.m., while above €1,000/sq.m. are Katerini at €1,108/sq.m., Serres at €1,047/sq.m., Drama at €1,000/sq.m. and Veria at €1,000/sq.m.. On the other hand, lower sale AAPs are recorded in Edessa at €958/sq.m., Grevena at €937/sq.m., Kilkis at €917/sq.m., Kozani at €838/sq.m., Giannitsa at €800/sq.m., Kastoria at €793/sq.m. and Florina at €773/sq.m.
A significant increase is also recorded in Alexandroupoli (51.3%) as well as in Xanthi (45.3%). Also noteworthy is the slight decrease of -8.2% recorded in Kastoria over the last five years, with the AAP for residential sales standing at €793/sq.m. in the 1st quarter of 2026.
The largest cities of Northern Greece show notable differences both in terms of the level of rental (AAPs) and in terms of their rate of change. The data for the 1st quarter of 2026 reflect a rental market with different dynamics by area, with some cities recording higher prices and others showing faster rates of increase.
During the 1st quarter of 2026, Alexandroupoli records a rental AAP of €9.0/sq.m., followed by Komotini at €7.6/sq.m. and Kavala at €7.3/sq.m.. Xanthi also stands at the same level, at €7.3/sq.m.
Kilkis records an impressive increase of +62.5% in the AAP for residential rentals during the period 2022-2026. This rise is linked, among other things, to the more than doubling of the supply (stock) of homes for sale, a fact that reflects a broader dynamic in the local real estate market.
It is followed by Alexandroupoli with +44.0%, which also leads in absolute price level (€9.0/sq.m.), a fact that reflects the geopolitical dynamics and investments in the area that have strengthened demand. Among the largest increases among the largest cities of Northern Greece outside Thessaloniki is also Katerini, with a 33.2% increase in the AAP for residential rentals during the period 2022-2026, with the rental AAP amounting to €6.2/sq.m. in the 1st quarter of 2026.
Northern Greece at the center of international interest
International interest in homes in Northern Greece remains strong in 2026 as well, with data from the 1st quarter recording an increase in interest for both buying and renting homes compared with the corresponding period of 2025. This picture confirms that Northern Greece continues to be an important destination for interested parties from abroad.
Interest from abroad in buying a home in Northern Greece remains elevated during the 1st quarter of 2026, confirming its enduring attractiveness. The geographical distribution of interest highlights the Regional Units and areas that attract the greatest preference from international interested parties.
The Suburbs of Thessaloniki occupy first place in international interest for buying a home in Northern Greece, followed by Halkidiki and the Municipality of Thessaloniki. The next positions in the ranking are held by the Regional Unit of Kavala, the Regional Unit of Pieria and the rest of the Regional Unit of Thessaloniki. The top ten is completed by the Regional Units of Evros, Serres, Rodopi and Xanthi, with interest from buyers abroad extending to both large urban centers and coastal and regional areas of Northern Greece.
Overall, the data for the 1st quarter of 2026 show that international interest in buying a home is concentrated mainly in the metropolitan area of Thessaloniki and in Halkidiki, while the Regional Units of Eastern Macedonia and Thrace also record a strong presence, highlighting the broad geographical spread of interest in Northern Greece.
Correspondingly, as regards international interest in renting a home in Northern Greece, it remains particularly strong during the 1st quarter of 2026 as well. The Suburbs of Thessaloniki also occupy first place in home rentals, followed by the Municipality of Thessaloniki and Halkidiki. The top ten also includes the Regional Units of Kavala, Pieria, Serres, Evros, the rest of the Regional Unit of Thessaloniki, Xanthi and Kozani. This picture indicates that interest in renting is not limited to large urban centers, but also extends to the other areas of Northern Greece.
Overall, the data for the 1st quarter of 2026 show that Thessaloniki and Halkidiki continue to be the main poles of attraction for international interest in both buying and renting a home.
At the same time, the presence of Regional Units such as Kavala, Pieria, Evros and Serres in the top positions highlights the growing interest of international interested parties in a broader range of areas in Northern Greece.
As regards the type of property, international interest in Northern Greece during the 1st quarter of 2026 is focused mainly on apartments, both for buying and for renting a home. Detached houses and maisonettes follow, also attracting significant interest from interested parties abroad.