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Greece 2025: Northern Greece Real Estate as a Sustainable Investment Strategy

Why demand is growing, supply is shrinking, and how to benefit from it?

Global Trend: Greece remains an attractive investment destination

Amid global economic instability, Greece is confidently strengthening its position as a reliable and transparent investment destination. This is especially true in the real estate market, which continues to grow steadily due to both domestic and international demand.
Ellas Estate is an expert in Northern Greece, including Halkidiki, Thessaloniki, and Pieria. We work with private investors, families, and international buyers, creating reliable assets protected against inflation and volatility.

2025 Data: Market is Growing, Supply is Shrinking

According to official reports by the Bank of Greece and ELSTAT for Q1 2025:

  • Housing Price Index: 105.10 (vs. 102.30 at the end of 2024)
  • Annual apartment price growth: +6.8%
    • New buildings: +8.0%
    • Secondary market: +6.0%
  • Thessaloniki: +10.0% growth (outpacing even Athens at +5.5%)
  • Construction down ~50% compared to last year
  • Golden Visa: +31.9% increase in applications in early 2025

Conclusion: The market is shifting toward a seller’s market, and the shortage of quality housing is driving price increases, especially in strategic regions.

What does this mean for investors?

  1. Supply shortage = rising prices
    Reduced construction volume amid stable demand leads to increased property prices, especially in popular areas near the sea, infrastructure, tourist zones, and student districts.
  2. Northern Greece in focus
    Price growth in Thessaloniki and high interest in Halkidiki make Northern Greece especially attractive for investors, while property prices here are still lower than in Athens or the islands.
  3. Renovation and energy efficiency — the 2025 trend
    Due to rising construction costs and permitting difficulties, demand is shifting toward ready or renovated properties with clear legal status and high energy efficiency ratings.

Ellas Estate Approach: Responsible Investment

In a rapidly changing market, we adhere to a structured, transparent, and purpose-driven approach for each transaction. We offer our clients:

  • Full legal and technical audits
    Title checks, land status, licensing documentation, cadastral data, energy classification, and possible restrictions.
  • Financial modeling and profitability analysis
    Liquidity assessment, rental potential, fiscal risks, and value growth forecasts.
  • Full-cycle support
    From property selection and negotiations to ownership transfer, utility connections, design, and after-sales service. We also support Golden Visa portfolio management.

Strategic Investment Directions for 2025

Category Investment Rationale
Modern new developments High energy efficiency, compliance with new standards, rapid value growth
Renovations with legal clarity Fast commissioning, budget control, high rental income
Land plots Coastal land scarcity makes good locations particularly valuable
Urban rentals (Thessaloniki) Steady tenant flow: students, professionals, digital nomads
Golden Visa properties Conservative portfolio, EU currency liquidity, access to residency

Forecast through end of 2025

  • Nationwide value growth: 4–7%, with Northern Greece up to 9%
  • Strong demand expected, especially from international investors and the Greek diaspora
  • Share of investments in ready properties will grow, as will interest in combined solutions (housing + rental income)
  • Legal clarity and full support will be key factors for successful deals

The real estate market of Northern Greece is entering a phase of structural strengthening and maturity. With a shortage of quality supply and strong domestic and international demand, assets in this region are becoming not just property, but strategic capital management tools.

Ellas Estate DS Group is a team with years of experience, legal expertise, knowledge of architectural and cadastral processes, and most importantly — deep dedication to our clients’ interests. We don’t sell square meters — we build investment solutions.

We’ll be glad to discuss your strategy in person.

Sincerely,
Damianos Shahbazidis
President, Ellas Estate DS Group