Chalkidiki’s Real Estate: A Haven for Investments and Opportunities

With its stunning beaches and proximity to Thessaloniki, Chalkidiki continues to be a magnet for acquiring vacation or investment properties. The property market in the region is experiencing high activity with significant international interest. According to the annual survey by the Association of Real Estate Agents of Chalkidiki for 2024, property sales in the prefecture maintain the momentum of a mature yet dynamic market. Most transactions occur within the low-to-mid-price range, with buyers aiming either to create personal summer retreats or leverage properties for income generation. Data from 41 real estate offices reveals that nearly half (47.5%) of buyers invested in homes valued below €150,000, while another 37.5% focused on properties between €150,000 and €450,000. Only 10% of purchases involved properties exceeding €400,000, highlighting a market dominated by middle-class buyers, both Greek and foreign. Houses dominate interest, accounting for 68.7% of sold properties, followed by land at 26.8%, with commercial properties making up just 4.9%. Motivations vary significantly; 28% bought for investment purposes, 27% sought vacation homes, and 12% purchased primary residences. Foreign buyers include those from North Macedonia, Bulgaria, Albania, Serbia, Romania, Israel, Turkey, Germany, and Russia, often investing in holiday homes or rentals. Buyers prefer renovated properties, especially those aged 11-20 years old, which make up 25% of preferences. The study underscores broader socio-economic trends, such as the need for alternative investments beyond traditional financial products and the enduring allure of owning a seaside home. Chalkidiki serves as a microcosm of Greece’s real estate dynamics, attracting both local families building their dream homes and international investors seeking opportunities in affordable properties.