forumland Blog

Israel investment interest in real estate in the city of Thessaloniki!

3 January, 2023

As market participants point out in the APE-MPE, for most Israelis, the purchase of a property is primarily an investment to be exploited, so the choice of Thessaloniki to invest their capital was pre-eminently a way of voting and a vote of confidence in its perspective.

The funds that were pre-invested in various sectors of the real estate market, remain in the city. Together with the Israeli investors, terms such as "parcelacia" (pronounced "parcelacia"), ie the purchase of large and abandoned -usually craft- properties in the city center, their renovation and division into smaller ones, "entered" more intensively in the real estate market of Thessaloniki. , so that they can then be sold as residential real estate (what the English call "parcelation").
Four or five groups of Israeli interests have already "bet" on the "parcels", transforming literally entire streets, such as Ptolemy in the center of Thessaloniki.

The Israelis are the nationality that has invested more capital than any other in Thessaloniki in the last three years.

Abroad, the closest markets to Israel with prospects for returns are Greece and Cyprus. "One reason they invest in Greece is the geographical proximity. Many Israelis buy real estate in the United States, which they may never see up close. While Greece is two hours away by plane. Of course the proximity is not only geographical. There is a long history in our city but it offers the best investment opportunities in Real Estate.