His position that the real estate market of Thessaloniki offers the investors of the western world the greatest possible returns was expressed by the president of the Federation of Real Estate Brokers of Greece (OMASE), Konstantinos Tzaros, head of the sector in Thessaloniki, speaking from the stage of the Real Estate conference Expo North, held as part of the Philoxenia and Hotelia exhibitions at TIF. He characteristically said that “the real estate market of Thessaloniki is a top investment destination in the Western world”.

He clarified, real estate prices in Thessaloniki are low and at the same time investments in long-term leases give yields of 6%-7% and in the short term the rate is over 10%.

Regarding the real estate market of Greece, he noted that “it is firmly on its feet and the future looks bright”, and saying that “there is no bubble in the real estate market”, he explained that the rise in prices recorded was a natural development, after the great decline in the years of the financial crisis, when the country even had negative inflation.

In this context, he stated that based on the data of the Bank of Greece with a base year of 2007, in 2022, after 15 years, the prices in the real estate market of our country were at 84.5% of those valid before the crisis and formulated the assessment of possibly, in 2023, prices reaching 2007 levels.

Referring to the foreign investments made in our country, Mr. Tzaros noted that in 2022, 2 billion euros fell on the Greek real estate market, 68% more compared to 2021 and noting that Greece and Thessaloniki are a “magnet” for investments, he emphasized that “now is the time to properly communicate our product.”

Among other things, he noted that our country offers a safe environment to foreign investors and emphasized that today 20% of purchases and sales are made with loans. “The loan barely reaches 25% of the total amount paid by the buyer. The loans are safe”, noted Mr. Tzaros characteristically.