Investment Property in Thessaloniki

Investment Real Estate in Thessaloniki

Thessaloniki property investment can be a worthwhile venture if you are selective with the areas you choose to invest in. If not, you could find that your investment suffers due to low rental yields, dwindling demand, and slow property price growth in many parts of Thessaloniki .

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Search Map of Thessaloniki Investment Real Estate

Thessaloniki (; Greek: Θεσσαλονίκη, [θesaloˈnici] (listen)), also known as Thessalonica (), Saloniki or Salonica (/səˈlɒnɪkə, ˌsæləˈniːkə/), is the second-largest city in Greece, with over 1 million inhabitants in its metropolitan area, and the capital of the geographic region of Macedonia, the administrative region of Central Macedonia and the Decentralized Administration of Macedonia and Thrace. It is also known in Greek as η Συμπρωτεύουσα (i Simprotévousa), literally “the co-capital”, a reference to its historical status as the Συμβασιλεύουσα (Simvasilévousa) or “co-reigning” city of the Eastern Roman (Byzantine) Empire, alongside Constantinople.

Thessaloniki is located on the Thermaic Gulf, at the northwest corner of the Aegean Sea. It is bounded on the west by the delta of the Axios. The municipality of Thessaloniki, the historical center, had a population of 325,182 in 2011, while the Thessaloniki Urban Area had a population of 824,676 and the Thessaloniki metropolitan area had 1,030,338 inhabitants in 2011. It is Greece’s second major economic, industrial, commercial and political centre; it is a major transportation hub for Greece and southeastern Europe, notably through the Port of Thessaloniki. The city is renowned for its festivals, events and vibrant cultural life in general, and is considered to be Greece’s cultural capital. Events such as the Thessaloniki International Fair and the Thessaloniki International Film Festival are held annually, while the city also hosts the largest bi-annual meeting of the Greek diaspora. Thessaloniki was the 2014 European Youth Capital.

The city of Thessaloniki was founded in 315 BC by Cassander of Macedon and was named after his wife Thessalonike, daughter of Philip II of Macedon and sister of Alexander the Great. An important metropolis by the Roman period, Thessaloniki was the second largest and wealthiest city of the Byzantine Empire. It was conquered by the Ottomans in 1430 and remained an important seaport and multi-ethnic metropolis during the nearly five centuries of Turkish rule. It passed from the Ottoman Empire to Greece on 8 November 1912. It is home to numerous notable Byzantine monuments, including the Paleochristian and Byzantine monuments of Thessaloniki, a UNESCO World Heritage Site, as well as several Roman, Ottoman and Sephardic Jewish structures. The city’s main university, Aristotle University, is the largest in Greece and the Balkans.

Thessaloniki is a popular tourist destination in Greece. In 2013, National Geographic Magazine included Thessaloniki in its top tourist destinations worldwide, while in 2014 Financial Times FDI magazine (Foreign Direct Investments) declared Thessaloniki as the best mid-sized European city of the future for human capital and lifestyle. Among street photographers, the center of Thessaloniki is also considered the most popular destination for street photography in Greece.

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The financial stability of Thessaloniki has translated into a real estate market that rewards forward planning and a willingness to look beyond areas of traditional affluence.

Buy to Rent in Thessaloniki

Renting out your Thessaloniki buy-to-rent investment property can grow wealth and income.

Whatever your goals with investment property in Thessaloniki are – preparation is key.

Set goals based on how much rental yield will be required and the local rental yield rates in Thessaloniki and be prepared to change your initial outlook.
Thoroughly research the Thessaloniki location with a special emphasis on fringe areas outside the main Thessaloniki metropolis that may be valued lower than their better-known neighbors. Rental yields of around 5% are still attainable in certain areas of Thessaloniki.
Ensure that your target investment property in Thessaloniki appeals to professionals. This is a demographic that ensures maximum income and low voids.
Finding and vetting suitable tenants is a job ideally left to the professionals. Working with an established letting agent such as Physis Realty with local knowledge and experience of property legislation will give you the best chance of success.
You may think that managing your Thessaloniki properties yourself is an easy option, but are these savings justifiable when you run into Thessaloniki red tape? Physis Realty Thessaloniki office in downtown provides you with peace-of-mind and leaves you time to plan your next move in the growing Thessaloniki buy-to-rent sector.

With our expert guidance, investing in Thessaloniki provides the secure knowledge that your money is working harder than it would in a local Thessaloniki bank and that future generations of your family will be left with substantial capital growth assets.

We are always happy to advise on buying investment property in Thessaloniki, where we have been established for over 35+ years. Physis Realty has been a firm fixture in the Thessaloniki property market through good times and bad. Our experts have seen it all and our portfolios continue to outperform.

Flipping Investment Property in Thessaloniki

Flipping property in Thessaloniki

Flipping property is when we advise clients to buy a Thessaloniki property below market value, renovate it and then make a profit by selling it at a higher price, all within a few months, and often before the Thessaloniki market has a time to react to the renovation.

The Flipping Strategy in Thessaloniki

Investment property flipping in Thessaloniki is a simple strategy. You find a property that is in need of renovation from our list and purchase it for a low price. These type of Thessaloniki real estate investments are sometimes referred to by professionals as ‘distressed’ Thessaloniki real estate.

What is distressed Thessaloniki property:

Thessaloniki property in need of renovation
Thessaloniki real estate with a change of purpose and use
Oversold Thessaloniki property
Bank repossessions in Thessaloniki

Put simply, long term investors in Thessaloniki purchase the property, renovate it and make it a lot more attractive to potential buyers.

Calculate profit that you make from Thessaloniki investment property flipping:

Final Selling Price less Cost of Purchase less Costs = Profit

Here is an example:

Thessaloniki property purchase price: $220,000

Renovation costs: $20,000

Other costs: $25,000

Property sale price: $400,000

Profit: $135,000

Experienced property developers in Thessaloniki use a minimum profit value of 22% when looking at potential Thessaloniki projects. The reason for this is because there are lots that can go wrong in Thessaloniki property flipping and working on a potential margin of 22% should still leave a good margin of error.

Luxury Property in Thessaloniki

For luxury property investors hoping to add a superb property in Thessaloniki to their luxury real estate investment portfolio, Physis Realty is a trusted partner.

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A world leader in luxury real estate with a portfolio comprising some of the most sought-after real estate in Thessaloniki, Physis Realty caters particularly to high net-worth individuals and families. A luxury real estate investment in Thessaloniki should be entrusted to only the highest-quality agency.

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