Attica’s coastal front sold out: 17,000 interested buyers from 110 countries for property in Elliniko

To date, around 17,000 funny buyers from over 110 countries person expressed involvement successful the residential units astatine Elliniko, noted Mr. Alexandros Moulas, Chief Commercial Officer, Residential astatine Lamda Development, speaking astatine the Athens Riviera Summit. He emphasized that request present comes from every country of the globe, with 65% of inquiries from Europe, 15% from the U.S., and 12% from the Middle East. There is besides important involvement from the UK, Australia, Canada, Germany, Turkey, and Switzerland.

Buyers person diverse profiles. As the task progresses, overseas involvement is increasing, with varied trends and motivations. Some presumption Elliniko arsenic a permanent residence, portion others spot it arsenic a purely investment-driven opportunity, helium added.

Buyer Profiles and Motivations

According to information presented by Mr. Moulas:

• 47% of buyers spot the spot arsenic an investment, expecting returns betwixt 5%–7% done rentals.
• 29% are buying for a primary residence,
• 21% for a secondary home,
• Only 3% are motivated by obtaining a Golden Visa.

Demand is chiefly focused connected two- and three-bedroom apartments (43% and 29%, respectively), portion larger residences relationship for a overmuch smaller share. Most financing comes from Greek banks, and LAMDA has planned facility absorption services for owners, a captious diagnostic successful residential complexes, Moulas noted.

Sold Out connected the Coastal Front

Strong request has already led to a complete sellout of each properties offered connected the Athens coastal front.

• The Riviera Tower, present astatine its 32nd floor, has no disposable units left.
• A akin concern is seen successful the Cove Residences, which dwell of 115 homes.

Average prices:

• Riviera Tower: ~€13,700 per sq.m, with higher prices connected precocious floors
• Cove Residences: ~€11,000 per sq.m

In Little Athens, a vicinity made up of 28 buildings, prices commencement astatine €7,000–€8,000 per sq.m (with full values from €400,000 to €2.5 million) and scope up to €11,000 per sq.m astatine Park Rise.

93% of each residences released truthful acold person been sold oregon reserved, according to the latest data.

New Neighborhoods Coming

LAMDA Development has already announced the next large neighborhood, East Village, which volition beryllium developed connected the eastern side of the site. One of its planned complexes, Skyline Havens, designed by Liakos Architects, volition see 150 luxury residences with resort-style amenities (outdoor pools, playgrounds, gym, concierge services), scheduled for transportation by 2028.

In the adjacent 18 months, astir of Phase 1 of the task is expected to beryllium completed, including:

• 1,500 residences by LAMDA
• Around 500 more from spouse developers

By the end of 2028, astir 2,000 residences volition person been delivered, with caller projects launched gradually. Already, 100–120 caller homes are announced for late 2025, and different 300–350 successful Q1 2026.

From Greece to the World

Interest successful Elliniko initially came powerfully from Greek buyers, who mostly absorbed the archetypal released units. Now, however, the inclination is clear: global demand is taking over.

As Mr. Moulas pointed out, Americans and Australians amusement a willingness to spend more, portion Europeans and Middle Eastern buyers presumption the concern arsenic long-term.

The Elliniko redevelopment is expected to yet present 10,000 homes crossed each phases. With 93% already sold oregon reserved, it’s wide the task is not conscionable a large improvement for Athens, but a global lawsuit study successful however urban revitalization tin pull planetary existent property demand.

A Greener, Smarter City

As antecedently announced, a cardinal facet of the Elliniko municipality redevelopment is the translation of the area’s microclimate. Where the tract erstwhile consisted of 70% concrete, it volition present beryllium 70% greenish space, with each the associated biology benefits.

Furthermore, the caller metropolis volition embody the latest successful sustainable development, incorporating:

• Renewable vigor sources
• Water and vigor ratio systems
• And different state-of-the-art biology technologies.