Bulgarians Keep Buying Property in Northern Greece Despite Rising Prices

Bulgarians remain active buyers in Northern Greece, according to local real estate agents, with Kavala emerging as the region attracting the most interest. Buyers are seeking a wide range of properties, from land suitable for caravans to small maisonettes. Property prices have surged significantly, rising from around 900 euros per square meter in the past to approximately 2,500 euros today.

The appeal of Kavala is largely linked to its proximity to Bulgaria, leading to neighborhoods where Bulgarians now make up a significant portion of property owners. Locals note that in villages such as Orfinio, Bulgarian ownership is particularly high, putting additional pressure on local infrastructure. Nonetheless, local businesses benefit from the influx, with traders reporting strong sales to Bulgarian clients.

In Halkidiki, wealthier Bulgarians dominate the luxury real estate market, acquiring high-end villas. Additionally, many Bulgarian buyers purchase apartments or smaller houses with the intention of renting them out. However, opportunities in short-term rental markets have declined due to stricter regulations, with fines for unregistered vacation rentals now starting at 5,000 euros.