Emerging Areas for Real Estate Investment in Greece

As the real estate market experiences an upward trend, with average asking prices and rental rates on the rise, many investors are focusing on identifying the next hotspots for investment in Attica, Thessaloniki, and the rest of Greece. During the Real Estate Expo held in Athens (May 30 – June 1), Dimitris Melachroinós, CEO of Spitogatos, presented key areas in Attica, Thessaloniki, and the rest of Greece with the highest returns during a panel discussion titled ‘What are the new hot areas in Athens with the highest returns?’ These returns were calculated based on the ratio of annual asking rents to the asking sales price (Cap Rate) according to data from Spitogatos Insights. This metric indicates how profitable a property is if rented long-term rather than short-term or for tourism purposes, relative to its value. In central Athens, high-return areas include less traditional destinations like Patision-Acharnes and Attiki, as well as established zones with strong demand for student or short-term rentals such as downtown Athens, Exarchia-Neapolis, Kypseli, and Goudi. Fewer northern suburbs show returns above 5%, notably Agios Stefanos, Nea Penteli, and Anoixi. Conversely, western suburbs like Agia Barbara, Aigaleo, Nea Filadelfeia, and Acharnes offer significant returns exceeding 5%. Eastern suburbs also stand out, including Marathon, Koropi, Nea Makri, Artemida, and Spata. Piraeus and its surrounding areas, known for relatively low asking prices, highlight zones like Kaminia-Palaiakokkinia, Tambouria-Agia Sofia, Agios Ioannis Rentis, Tavros, Keratsini, and Nikaia with returns over 5%. Other notable areas include Lavrio, Oropos, Kalamo, Markopoulo, Megara, Pikermi, Kalivia Thorikou, and Keratea. Western neighborhoods and central Thessaloniki lead in returns due to lower median asking prices and increased rental demand. Outside urban centers, cities like Didymoteicho, Ptolemaida, Kozani, Karditsa, Agrinio, Orestiada, Veria, and Komotini present attractive returns. High yields are also seen in Drama, Serres, Lamia, Xanthi, Samos, Lesbos-Mytilene, Pyrgos, Amaliada, Sparta, Tripoli, and Aigio. Spitogatos offers targeted property search capabilities across thousands of listings nationwide, allowing users to receive notifications for new listings matching desired criteria.