Philenews

One in Four Homes Empty in Thessaloniki Amidst Short-Term Rental Restrictions

Published December 29, 2025, 08:21
One in Four Homes Empty in Thessaloniki Amidst Short-Term Rental Restrictions

A government decision to extend the ban on creating new short-term rental properties to the center of Thessaloniki, following Athens, is causing concern in the real estate market. Market players question the effectiveness of the measure in addressing the housing problem, as the number of properties used for short-term rentals is small compared to the total housing stock and the large number of vacant homes. According to ELSTAT, almost one in four homes in the Municipality of Thessaloniki (52,646 out of 210,058) remains empty, often due to ownership issues (non-residents, banks, funds). Available data shows that active short-term rental properties in Thessaloniki are around 5,000, representing only 2.37% of the total number of homes. Furthermore, the total registers of platforms often overestimate the actual picture, as many owners tentatively list their properties. The experience from Athens, where the ban did not lead to a decrease in rents but to an increase in properties, reinforces doubts about the measure's effectiveness. The ban in Thessaloniki will apply from March 1, 2026, to a specific part of the center, from Aristotle Square to the coastal zone. The market fears that the measure will discourage investment and limit the supply of accommodation, without solving the housing problem. However, the government insists that the regulation is necessary to protect permanent residents from rising prices. Overall, the extension of the ban creates uncertainty in the Thessaloniki real estate market and raises questions about the effectiveness of the policy in addressing the housing problem. Monitoring the results in Athens and adapting the policy in Thessaloniki will be crucial to achieving the desired outcomes.