Global Buyers Flock to Ellinikon Homes

The Ellinikon project, Greece’s flagship municipality redevelopment, has go a magnet for planetary buyers. Speaking astatine the Athens Riviera Summit, Alexandros Moulas, Chief Commercial Officer, Residential at Lamda Development, revealed that astir 17,000 prospective buyers from much than 110 countries person expressed involvement successful Ellinikon residences to date.

Europeans relationship for the bulk of request (65%), followed by Americans (15%) and buyers from the Middle East (12%). Strong involvement is besides coming from the UK, Australia, Canada, Germany, Turkey, and Switzerland.

Profiles and motivations

The purchaser excavation is diverse, with antithetic motivations driving demand. According to Moulas, astir fractional of buyers (47%) view their acquisition arsenic an investment, seeking rental yields of 5–7%. Another 29% are looking for a superior home, 21% for a 2nd residence, while conscionable 3% nexus their involvement to Greece’s Golden Visa program.

Demand is strongest for two- and three-bedroom apartments, with larger units little successful favor. Prestige projects are sold out: Riviera Tower (avg. 13,700 euros/sq.m.) and Cove Residences (11,000 euros/sq.m.).

New neighborhoods, soaring sales

In the “Little Athens” neighborhood—spanning 28 buildings—prices start astatine 7,000–8,000 euros per square meter, ranging from 400,000 to 2.5 cardinal euros. The upscale “Park Rise” reaches up to 11,000 euros per square meter. So far, 93% of each released units crossed the improvement person been sold oregon reserved.

While Greeks drove aboriginal sales, planetary buyers present dominate. Americans and Australians spend more, while Europeans and Middle Eastern investors take a longer-term view.

More than conscionable existent estate

Ellinikon is acceptable to present 10,000 homes implicit its afloat improvement cycle. Beyond existent estate, the task is reshaping the section environment: an country erstwhile covered 70% successful factual will beryllium transformed into 70% greenish space. For Athens, Ellinikon is not lone a landmark development—it is emerging arsenic a planetary lawsuit study successful municipality regeneration.