Thessaloniki enters 2025 with a professional market real estate showing signs of deep rearrangement. The new data relates to both offices, retailing and logistics, branches that now shape a dynamic and multilevel landscape. The city is gradually transformed into a business hub for Northern Greece and the Balkans, with the completion of the subway, the enhancement of infrastructure and the steady rise of investment to change its role on the map.
In the offices market, the shift to high quality sustainability buildings is now a fact. Demand for Grade A spaces has exceeded the offer, leading to prices rise and shifting interest from the historic center to developing zones where “green” bands are made. The installation of Taskus throughout the HUB26 building on October 26th is indicative, while Coca-Cola already operates in the same development and Alpha Bank and Piraeus Bank are expected to follow this year. On the east side of the city, Thermi Group’s Project Komvos, with a total area of 10,000 sqm, is designed to attract large international and domestic employees, while Deloitte is preparing to be installed in the PAEGEE building, which is renovated with over 20 million euros. Important is the plan to utilize the former FIX plant at the west entrance, which will change the map of the area. The leases in the center are 12 to 16 euros per sq.m. The month for Tsimiski and the new green developments, while on secondary streets, such as Venizelos, they range between 8 and 11 euros. In West Thessaloniki, new buildings reach even 16 euros per sqm, while on the east side prices are from 9 to 15 euros. Green buildings stand out, with leases reaching 18 euros, depending on the benefits. The yields for top real estate are estimated at 6% and reach up to 8.5% in the secondary sites.
Retail remains strongly strong, with prime locations holding high rents and new arrivals of international brands confirming market dynamics. In the most commercial part of Tsimiski, between Kuskoura and Komninos, rents range from 120 to 160 euros per sq.m. The month, while the operation of the subway gives a new impetus to Egnatia, which is evolving mainly for catering businesses. Significant moves in the center were Brooks Brothers’ first store in Electra Palace, the installation of Michael Kors in Hagia Sophia, the second point of Holland & Barrett in the Metropolis, and Mayoral’s choice to open a high -street shop in the Metropolis, after years of presence in shopping malls. Following is the new Jackaroo store at the intersection of Hagia Sophia and Metropolis and the entry of Procredit Bank into a store next to Aristotle. High street real estate yields stand at 5.5% to 6%, while in secondary markets, such as Kalamaria, Pylea and western districts, range from 7% to 8%.
The most impressive mobility, however, is presented by the Logistics sector, where Thessaloniki is established at an international transit center. Its geographical location, in combination with the port, rail and road network interconnection, attracts large -scale investments. The former Gonou camp is designed a logistics park that will exceed 200m euros, with companies such as Goldair and Aktor, the Fourlis Group with Interkat, Noval Property and OLTH. The project will cover 672 acres and is expected to create about 3,000 new jobs, making northern Greece a hub for the Balkan market. At the same time, Dimand is developing a 120,000 -square -foot logistics center. In West Thessaloniki, an area of 355 acres of the former Balkan Export, with an investment of € 160 million. At the same time, the expansion of the 6th pier to the port, which will be completed in about three and a half years, promises a doubling of the capacity in containers. Rents for Grade A storage areas range from 3.5 to 5 euros per sqm, while for Grade B spaces they range from 2.5 to 3.4 euros. A typical case is the 64 -acre industrial complex in Kalochori, a former fabric paint unit, which shows the limited availability of large plots.
Thessaloniki now shows that it is changing scale. From a market with limited office and retail options, it is evolving into a modern business hub with new, sustainable infrastructure and impressive logistics investment. Investors’ interest remains high and everything converges in the fact that the city is entering a decade of upgrading, which will redefine its role as a financial and shopping center not only in northern Greece but also in the whole of Southeast Europe.