Real estate: Israelis are taking over the Greek market - Airbnb rentals in Thessaloniki are out of control - Economic Courier - ot.gr

Israelis are actively renting properties in Thessaloniki for entire families to live in, despite the war in Gaza. As part of this initiative, they have also engaged the Jewish community of Greece's second-largest city, which is eager to help in any way it can.

Many of them are willing to pay any amount of money to secure housing, and they do not hesitate to sign rental contracts even for two or three months. Apartments offered by short-term rental platforms like Airbnb, which are available immediately, are at the top of their priority list. Thessaloniki, due to its historical connections, is in the spotlight, but there is also strong demand for Athens, especially in the southern suburbs and outside the urban area.

It is important to note that the owner of the real estate agency signed a six-month contract last week for a property in the Saronida region, hoping that by then some stability will have been achieved. "After the outbreak of violence in the Middle East, many Israelis rushed to seek safe havens in countries they consider friendly and not subject to rocket attacks," notes Andreas Chios, chairman of PASIDA.

Cyprus ranks first due to its geographical location, followed closely by Greece. These are two countries where Israelis feel safe thanks to the closer relations developing between them.

There is also a huge interest in the "Golden Visa" program. According to market information, real estate agencies in various cities in Greece (not only in Athens and Thessaloniki, but also in Rhodes and Chania) are receiving inquiries from Israelis looking to purchase property in Greece worth over 250,000 euros in order to obtain the right to permanent residence and free movement within Europe. This is stimulating the Greek real estate market, which remains attractive to international investors, and all new developments are selling like hotcakes. The Greek real estate market is supported by reasonable prices and remains one of the most affordable markets in Europe, both in terms of price per square meter and due to the stability that has been established in recent years.