Bulgaria has recorded increasing interest in the real estate market of Northern Greece, while demand has also increased on the part of Turkish citizens, mainly for Thessaloniki.

Bulgarian citizens, according to market representatives, have been making massive purchases over the last two years of individual holiday homes in the most popular resorts of Northern Greece or entire residential complexes and hotels in Halkidiki, Kavala and other areas of eastern Macedonia and Thrace, as well as in Thassos.

“They often buy entire buildings, as well as hotels, which they remodel for exploitation, while several Bulgarian businesses now operate in Northern Greece, from small cafes to construction companies,” the president of the Greek-Serbian Chamber of Northern Greece, Kostas Georgakos, said to “Naftemporiki”.

Regarding Halkidiki, approximately 70% of sales in the region concern buyers from neighboring Balkan countries, while demand for properties in the area has risen about 20%-25%.

The demand concerns not only properties of low value, as a few years ago, but properties with a value around 100 to 150 thousand euros at a percentage of 80%, even properties of 300,000 euros. Germans have also expressed interest in Halkidiki, mainly for apartments in holiday settlements. According to Georgakos, among the Balkan buyers, the Bulgarians have the highest funds for buying a house, followed by the Skopians, the Romanians and the Serbs. In all the neighboring Balkan countries, Georgakos added, significant increases in real estate prices are taking place, while a significant improvement in their economies and the incomes of their residents has also been recorded in recent years.

Strong interest in acquiring real estate in Thessaloniki is also recorded by Turks. As the founder and owner of Tzemis Real Estate, Theodoros Tzemis, pointed out to “Naftemporiki”, after the recent elections in Turkey, many Turkish purchased properties in Thessaloniki, especially in the center of city.

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