Buying property in Thessaloniki as a UK foreigner

Disclaimer: The information in this article is for reference purposes only. All information on this page should not be considered financial or tax advice. You are solely responsible for calculating and paying your tax liabilities depending on the applicable law. All tax saving strategies or decisions should be made after thorough research and consultation with a qualified financial advisor.

Love the idea of living in Thessaloniki, or having a holiday home there? It’s easy to see why, as Greece’s second-largest city has it all - UNESCO-listed landmarks, a scenic waterfront, vibrant culture and nightlife, and simply fabulous food.

If you’re looking to buy a property to live in or let out in Thessaloniki, we’re here to help.

Read on for a practical guide to buying property in Thessaloniki as a foreigner. This includes info on mortgages, fees and taxes, the latest property prices in the city, tips on where to start your search and the main pitfalls to avoid.

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Can you get a mortgage from a Greek bank as a non-resident?

The very first step towards securing your dream home in Thessaloniki will be to get your finances sorted. Unless you have the cash in the bank, you’re likely to need a mortgage from a Greek lender.

You’ll be pleased to know that some Greek banks do provide mortgages to foreign nationals and non-residents.

However, foreign buyers do tend to face stricter lending criteria compared to local applicants, and the application process can be more complex.

Interest rates can be higher for non-residents, and you may also find that you can’t borrow as much. The typical loan-to-value (LTV) ratio for foreign applicants is between 50% to 70%, so you’ll need a larger deposit.¹

You’ll also need to show proof of a stable income - this is the most important eligibility requirement for securing mortgages in Greece.

It’s a good idea to start shopping around for mortgages before starting your property search in earnest - and using a specialist broker is recommended.

Taxes and fees for owning property in Thessaloniki

Along with the property price, you’ll also need to factor in legal fees, taxes and other costs when setting the budget for your property search.

Here are the main ones to know about when buying property in Thessaloniki:²

Fee/tax	Amount
Transfer tax	3.09% for resale properties
VAT (FPA) - new builds only	24%
Legal fees	Around 1%
Notary fees	1% to 2%
Translation/interpreter services (if needed)	€150 to €600 EUR
Property valuation fees	€250 to €600 EUR
Annual property tax (ENFIA)	€200 to €700 per year

Read more: Cost of Living in Greece

What’s the property market like in Thessaloniki?

The Thessaloniki property market is experiencing a period of strong momentum at the moment. This is caused by multiple factors, including the city’s brand new metro system, ongoing supply issues pushing prices higher, and sustained foreign investment.

Prices rose by around 9% between January 2025 and January 2026, but they’ve increased by a huge 70% over the last decade.³ Apartments dominate the listings, making them by far the most popular property type in the city.

Neighbourhoods such as Ladadika, Valaoritou, areas around Kamara and Rotonda, and parts of Ana Poli have seen the most improvement - and some analysts believe they’re heading towards gentrification.⁴

If you’re looking to rent out a property, it’s useful to know that the average rental yield in Thessaloniki is between 3% and 6%.³

Can foreigners buy property in Thessaloniki?

Yes foreign nationals can freely buy property in Greece - including Thessaloniki - without any restrictions, and you don’t need to be a resident there either.

The only thing to check (or have your solicitor check) is whether the property you want to buy is in a designated frontier zone near northern borders - as foreign nationals are not permitted to buy property there.

Otherwise, all you’ll need is a Greek tax number (AFM), a Greek bank account and the funds or financing to support your purchase.

Can you buy property in Thessaloniki and get residency?

Yes, there is a potential pathway to residency in Greece through the purchase of property in Thessaloniki.

Greece is one of many countries which has a ‘Golden Visa’ scheme, which allows foreign citizens to gain residency through making an investment in the country. This includes investing in property.

In some locations, the minimum required investment is €250,000 EUR. But in other areas such as Thessaloniki - and including islands such as Mykonos and Santorini - you’ll need to buy property worth at least €800,000 EUR to qualify.⁵ Other conditions apply.

So if you have the funds and you’d like to move abroad and live in Thessaloniki permanently, this could be the pathway to pursue.

Read more: Greece Golden Visa

How much are the property prices in Thessaloniki?

So, how much money do you need to afford your dream home in Thessaloniki?

Across the whole of the city region, the average (median) house price is €169,000 EUR, or around €2,250 EUR per square metre.³

However, it really does depend on what and where you buy. Here’s a look at property prices in different parts of the city:³

Neighbourhood	Average property price (EUR)
Lefkos Pirgos/waterfront	€450,000 to €1.2 million
Historic centre	€220,000 to €450,000
City centre	€200,000 to €420,000
Toumpa	€180,000 to €360,000
Kalamaria	€250,000 to €450,000
Neapoli-Sykies	€120,000 to €240,000
Ampelokipoi-Menemeni	€110,000 to €220,000
Evosmos	€115,000 to €240,000
Epanomi	€90,000 to €220,000

Another thing to note when figuring out the price for property in Thessaloniki is that international transfers could get expensive, especially if the bank or provider adds a margin to the exchange rate to convert your pounds to euros (EUR).

Consider checking out Wise to securely handle your large transfers with mid-market exchange rates and low, transparent fees*.

Where is the cheapest place to buy property in Thessaloniki?

If you’re property hunting on a budget, some of the more affordable neighbourhoods to check out include:

• Epanomi
• Evosmos
• Ampelokipoi-Menemeni
• Neapoli-Sykies.

Buying property in Thessaloniki as a foreigner - a step-by-step guide

Almost ready to start your house hunt? Before you do, it can be useful to know a little about how the process of buying property works in Thessaloniki.

Here’s an overview of the main steps involved:

1. Get your finances in order

Before you do anything, it’s a good idea to get your finances sorted. This means setting a budget, getting a mortgage offer (approval in principle) and getting all your paperwork together.

You may also need to open a Greek bank account.

2. Get your Greek tax number (AFM)

Foreign nationals need a Greek tax number called an AFM to buy property in Greece.

You can apply for your AFM at the local tax office with your passport and a completed application form.

3. Find a property and arrange viewings

There are two main ways to start your search - using online property portals and/or local estate agents to find properties. If you’re using an agent, make sure they’re registered with the Hellenic Association of Realtors (HAR).

If you’ve found somewhere you like, arrange a viewing as soon as you can, and start researching the area in the meantime.

4. Make an offer

Found your dream house? Submit a competitive offer to the estate agent, or to the buyer directly. You can negotiate, just like in other countries.

5. Appoint a solicitor and carry out due diligence

While it’s not mandatory, it’s strongly recommended to find and appoint a lawyer experienced in Greek property law.

They will check over and translate all documents and contracts, as well as carrying out due diligence on the transaction. This includes conducting a thorough title search at the Land Registry or Cadastre.

A personal recommendation is a good way to find a solicitor, but you can also find a list of English-speaking property solicitors on the UK Government website.

6. Get a survey

A building survey isn’t mandatory, but it could help to flag up any serious issues early on. This is particularly important for older properties, or those that haven’t been lived in for a long time.

7. Sign the preliminary contract and pay the deposit

If your offer is accepted, due diligence checks are underway and you’re ready to proceed, it’s time to sign the preliminary contract.

It expresses your commitment to buying the property, and sets out the terms of the transaction.

You’ll also need to arrange a transfer to pay the deposit, which in Greece is usually around 10%.⁶

Consider using the Wise account here to convert your pounds to euros, avoiding hidden fees and getting the mid-market exchange rate.

8. Appoint a notary

A notary is a key part in property purchases in Greece. This is a public officer who ensures that the transaction, documents, contracts and processes are carried out in line with the law.

You can learn more about finding a notary through the Hellenic Notary Association website - your solicitor may also be able to point you in the right direction.

9. Completion

This is the final crucial step, involving the following actions:

• Signing the deed of sale and the final sales contract
• Transferring money to pay the final balance
• Registering the property title in your name
• Getting the keys to your new home.

All of the main steps will need to be done in person at the notary’s office, and it’s crucial to have your solicitor there as it may be conducted in Greek (including documentation).

Read more: How to buy and finance a house abroad (UK guide)

How can you find a property in Thessaloniki?

There are two main routes to find property to buy in Thessaloniki - local real estate agencies and online property websites. You can of course use both.

Property agencies and agents in Thessaloniki

It isn’t mandatory to use a real estate agent to find a property to buy in Thessaloniki, but it could be extremely helpful - especially if you’re moving to Greece from the UK and are unfamiliar with the local property market.

A specialist buying agent or broker can offer advice and insight into the local market and help you navigate the sales process. However, there will usually be a fee to pay for this service.

Before engaging an agent, check that they are registered with the Hellenic Association of Realtors (HAR).

Property websites in Thessaloniki

Keen to start your search online? Here are some of the most popular Greek real estate websites:

• Spitogatos
• Hellenic Realty
• Tospitimou
• XE.gr
• Rightmove Overseas.

Read more: Property tax in Greece

What are some of the pitfalls of buying property in Thessaloniki?

One of the main things to watch out for when buying or selling property abroad are scams.

To avoid these and other pitfalls, it’s best to work with verified, independent and qualified professionals such as real estate agents, brokers and property solicitors.

Appointing an independent real estate lawyer is a particularly crucial step. This is an expert who works just for you and has your interests at heart, rather than working for the seller or real estate agent at the same time.

To find one, start with this handy UK Government list of English speaking lawyers around the world.

Other important things to remember include:

• It’s not uncommon in Greece for properties to be listed for sale which have unauthorised building work, such as extensions or swimming pools. It’s crucial to have the legality (and condition) of any such work checked before buying.
• Some properties in Thessaloniki may also have hidden paperwork problems, even if they seem above board. For example, unclear title histories or unregistered mortgages. This is why it’s crucial to have your solicitor carry out extensive due diligence checks.
• If you’re buying a property to rent out - check the local rules and restrictions for short-term lets. You should also look at rental demand around the year, not just in the peak tourist season.
• Be cautious and do your homework before sending money or a deposit.
• Get an inspection/survey carried out if you have any concerns about the property, especially if it’s an older or historic home.

How do you choose the right property in Thessaloniki?

Your dream home in Thessaloniki will be the one that closest fits your search criteria. The most important factors are likely to be location, the type and size of home, and your budget.

If you’re not already living there, it’s worth making a trip to the specific part of the city you’re interested in.

You can stroll along the streets, get a feel for the local area and view properties, making sure to pay attention to local amenities.

Condition of the property

It’s a good idea to do as much research as possible before committing to purchase a property.

If you have any concerns, are buying an older property or just want to cover all bases before purchasing, you can commission a building survey or inspection. This will flag up any major issues and give you a better idea of what you’re buying.

Type of property

City apartments are the most popular property type in Thessaloniki, but you’ll also find older houses which have either been renovated or will need some work doing. Some of the most charming are in Ani Poli and the Old Town, where some of the city’s unique stone-built houses have been carefully restored.

If you have the budget, you can splash out on a seaside apartment or a luxury villa.

You may even be lucky enough to find a building plot in Thessaloniki, so you can design and build a home to your exact specifications.

Moving into your Thessaloniki property

Before you can get the keys to your new home, you’ll have a few key tasks to run through.

Insurance

It’s strongly recommended to take out a buildings insurance policy starting from your completion date. In fact, you might find it's a mandatory condition of your mortgage offer.

Setting up utilities and bills in Thessaloniki

If you know when your completion date will be, it makes sense to get some essentials set up in advance of moving in.

A prime example is utilities, such as power and water. Get these sorted as early as you can, and the moving process should be a little smoother.

Renovating property in Thessaloniki

For some properties, some building work or improvements may be needed before you can move in.

Our guide to building and renovating property abroad covers everything you need to know, from planning permission to finding a local builder - and some of the main costs you can expect.

Save on currency conversion fees with Wise when buying property in Thessaloniki

After reading this guide, you should have all the essential info you need to start your property search in Thessaloniki. This includes those crucial first steps such as finding a broker and searching online property portals, and getting your finances in order.

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Additional FAQs about buying property in Thessaloniki

What is the property tax in Thessaloniki?

Property tax (Unified Property Ownership Tax or ENFIA) in Greece is paid monthly and calculated based on the property value among other factors. Current rates are €2 to €16.20 EUR per square metre for buildings, and €0.0037 to €9.25 EUR per square metre for land.⁷

How much money do you need to live in Thessaloniki?

Depending on your lifestyle, you can live comfortably in Thessaloniki with an income of around €850 to €1,200 EUR a month.⁸

Is it hard for foreigners to buy property in Greece?

No, it’s actually pretty straightforward for foreign nationals to buy property in Greece, as there are no real restrictions on ownership.

However, there are some bits of admin to get out of the way. This includes getting a local AFM tax number and a Greek bank account, as well as appointing a solicitor to help you navigate the often-complicated bureaucratic processes in Greece.

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Sources used:

1. Investropa - Buying and owning a property as a foreigner in Thessaloniki (2026)
2. Investropa - The full list of property taxes, costs and fees in Thessaloniki (2026)
3. Investropa - What are housing prices like in Thessaloniki right now? (2026)
4. Investropa - How's the real estate market doing in Thessaloniki? (2026)
5. La Vida Golden Visas - Greece Golden Visa
6. Properstar - Buying property in Greece as a foreigner: 2025 guide
7. Immigrant Invest - Greek property tax basics: what foreign buyers must know
8. iLand - Cost of living in Thessaloniki in 2025

Sources last checked on date: 11-Feb-2026