Rental Yields in Athens and Thessaloniki: Which City Wins?

When it comes to real estate investment in Greece, investors face two main city options: the capital Athens and Thessaloniki, the heart of northern Greece. The two cities have different risk-return profiles and offer different advantages depending on investor preference.

Athens: High Demand, High Price

Athens has reached record demand volumes in recent years, particularly in the Airbnb and short-term rental segment. Apartments in central neighbourhoods such as Kolonaki, Monastiraki, Psiri, and Koukaki can generate monthly rental income of €1,500-3,000 through Airbnb.

Thessaloniki: Competitive Pricing, Stable Returns

Thessaloniki stands out with property prices 30-40% lower than Athens. The density of the student population and the presence of major universities keeps long-term rental demand stable.

While short-term rental potential in Thessaloniki is limited, long-term rental yields surpass Athens. Not requiring high initial capital is also a significant advantage.