Thessaloniki: How Airbnb is redrawing the real estate market map

The article “Thessaloniki: How Airbnb is redrawing the real estate market map” is published by BnBNews, a Greek online news outlet focused on travel and accommodation trends. It is authored by Μαρία Καλούδη, a journalist who regularly covers housing and tourism topics in Greece. The piece analyses how short‑term rental platforms, especially Airbnb, are reshaping the housing market in Thessaloniki, the country’s second‑largest city, and draws on data presented at the Prodexpo North 2026 conference.

Thessaloniki hosts approximately 4,606 active short‑term rental listings, with over 4,000 situated in the historic city centre. This concentration explains the intense public debate over housing pressure in central neighbourhoods. The article notes that the short‑term rental sector is a significant driver of the city‑break market, attracting visitors who often book at the last minute.

Research by Prosperty shows that short‑stay activity is expanding beyond the traditional centre into peripheral districts such as Pavlos Melas, Kordelio–Evosmos, Ampelokipoi–Menemeni and Neapoli–Sykies. These areas offer lower accommodation costs and good connectivity to the city core, signalling a maturing market that diversifies demand across the urban landscape.

Occupancy data reveal that Pavlos Melas leads with an average rate of 38.4 %, followed by Kordelio–Evosmos at 33.8 % and central Thessaloniki at 32.7 %. The spread of occupancy levels indicates that demand is no longer confined to the historic centre, supporting investment in emerging neighbourhoods.

Nightly rates vary markedly between districts. Pylaia–Chortiatis commands the highest average price at €124 per night, positioning it as a premium market. The city centre averages €87, aligning with the overall city average, while Kordelio–Evosmos is comparable. Peripheral districts such as Pavlos Melas and Ampelokipoi–Menemeni show lower averages of €59 and €54.7 respectively, illustrating a fragmented pricing structure.

Industry experts, including Lefteris Potamianos of the Hellenic Federation of Realtors, argue that short‑term rental regulation in Athens has not produced substantial market shifts, suggesting similar outcomes may occur in Thessaloniki. The rise of short‑term rentals can pressure long‑term housing availability, potentially undermining sustainable housing objectives that aim for stable, affordable homes for residents.

Kostas Georgakos, CEO of Prelevits & Georgakos Real Estate, notes that recent legislation on short‑term rentals is only beginning to be enforced in Thessaloniki. He cautions that while regulatory changes may not radically disrupt the market, ongoing dialogue between the state and industry is essential to accurately monitor and manage market dynamics.

Yield analysis indicates that central Thessaloniki delivers the highest average annual revenue per property, approximately €10,700. Peripheral areas are beginning to offer competitive returns, encouraging investors to consider diversified portfolios that balance profitability with broader urban development.

Thessaloniki’s city‑break market peaks in autumn, particularly in October, driven by conferences, exhibitions and cultural events. Unlike coastal resorts, the city experiences strong visitor inflow during this period, reinforcing its role as a year‑round tourism hub.

The data suggest that short‑term rentals are reshaping Thessaloniki’s housing landscape, creating distinct sub‑markets with varied occupancy, pricing and yield profiles. For pan‑European stakeholders interested in sustainable housing, the case highlights the need for balanced regulation that protects long‑term housing stock while recognising the economic contributions of short‑term tourism.