Sharp increases in commercial rents are forcing more businesses to shut their doors in Thessaloniki, with local retailers warning that the trend is leaving hundreds of storefronts vacant across the city.
According to the Thessaloniki Commercial Association, around 800 shops are currently closed, as many small and medium-sized businesses struggle to keep up with rising rental costs.
Rent hikes squeeze retailers
The problem is particularly visible in some of Thessaloniki’s busiest shopping streets, where at least 20 retail spaces remain vacant.
According to the association, steep rent increases have made it difficult for businesses to remain viable.
One example cited involved a commercial property where the monthly rent rose from €2,100 to €3,000 before eventually reaching €4,500—an increase that retailers say is unaffordable for many small business owners.
Problem extends beyond city centers
Business representatives say the issue is no longer confined to prime commercial districts and is increasingly affecting other parts of the city as well as regional areas across Greece.
The Thessaloniki Commercial Association warned that escalating rental costs are making it increasingly difficult for retailers to operate, contributing to the growing number of empty shops in the country’s second-largest city.
