Overview 2025 in Western Macedonia
The market remains driven mainly by local demand, with a presence of diaspora buyers and some Europeans seeking nature. Prices evolve slowly, with a premium for renovated and well-located properties. 🙂
Green Acres data indicate that no major foreign buyer presence has been recorded for these areas, which confirms that demand remains essentially domestic.
Local demand, low pressure
- Buyer profile: local families, civil servants, tertiary-sector workers, retirees returning to the country.
- Drivers of demand: quality of life, contained budgets, nature and cooler summer climate.
- Limited tension: inventories still ample and sale times generally reasonable.
Available products: houses & plots
- Stone village houses, often in need of modernization (roof, insulation, windows, heating).
- Detached houses from the 1980s–2000s, with garden, ready-to-live-in or to refresh.
- City-center apartments for student rentals and young professionals.
- Building plots, including on the outskirts: check utilities and access.
To plan for: total acquisition costs often around 6–10% (purchase tax, notary, registration), technical inspections, and cadastral verification (Ktimatologio). 💡
Prices by area
Kastoria: lakeside vs center
Around the lake, the view, light and promenade access create a premium. Renovated properties or those with outdoor space are sought after there.
In the center, you find older apartments, convenient for services and long-term rentals. A six-figure budget is often enough for a comfortable house, while some properties to renovate are occasionally negotiated below very accessible thresholds.
The diaspora occasionally influences the lakeside segment, but without creating significant price pressure.
- Lakeside strengths: view, calm, long-term appreciation, gentle tourist appeal. 🌅
- Center strengths: shops, schools, parking to consider, collective or individual heating.
- Points to watch: insulation, humidity near the lake, winter heating costs.
Florina/Grevena: village houses
The rural stock is abundant, with stone village houses and generous plots. Values per m² remain soft, especially for properties needing modernization.
You can find opportunities for a main residence or a country home. Renovation is the key to creating value.
The low presence of foreign buyers opens interesting niches for local investors or private individuals willing to renovate and add value over the long term.
- Check the structure (walls, framework) and the roof.
- Compare heating systems (wood, fuel oil, pellets, heat pump) and insulation.
- Check winter access, land slope, drainage and easements.
- Confirm water/electricity connections, septic tank or sewer connection.
Yields & exits
Year-round rentals
Rental demand is mainly domestic: students, teachers, healthcare staff and administration employees. City centers offer the lowest vacancy.
Gross yields are generally moderate. Prioritize perfect condition, insulation and charge management to stabilize profitability. 🏡
- Suitable products: 1–2 bedroom apartments (T2/T3) in the center, functional houses close to services.
- Long-term furnished leases possible to attract professionals and teachers.
- Short-term lets should be considered only in strong locations or for local events.
Heritage & long term
Over a 7–10 year horizon, the winning strategy remains heritage-focused: buy well-located, renovate intelligently, and aim for price stability rather than quick performance.
- Value creation: energy renovation (windows, insulation, heating), kitchen/bathrooms, well-kept outdoor spaces.
- Future demand: remote workers seeking calm, local families, summertime diaspora. 📈
- Probable exit: resale to local buyers or returning residents, with a premium for turnkey properties.
Legal checklist: clear title deed, urban planning compliance, possible protected zones (forest, archaeology), and validation by a local engineer before signing. ⚠️
