Housing prices in Athens’ southern suburbs are high, maintaining their position as the frontrunners in Greece’s real estate market, for 2025. The surge is driven by luxury residential developments along the Athenian Riviera, particularly in areas such as Ellinikon and other major developmental projects.
According to Korina Saia, CEO of Premier Realty, the Athenian Riviera—a scenic 60-kilometer stretch from Piraeus to Sounio—has undergone a remarkable transformation in recent years, emerging as a prime investment hub. The ongoing development of Ellinikon, a landmark coastal regeneration project, has been a key driver of this trend.
Beyond its enviable seaside location, the region boasts excellent transport links, including metro and tram lines, and a substantial supply of newly built, high-end, and luxury residences.
Rising Demand and Prices
The rising demand for properties in Athens’ southern suburbs continues to push prices upward. In 2024, real estate values in the area rose by approximately 7.9%, with forecasts predicting a more moderate 3% increase in 2025.
Despite these price hikes, the Athenian Riviera remains significantly more affordable than other Mediterranean hotspots. Luxury new-build properties range from 6,800 to 13,000 euros per square meter—far below the 30,000 to 60,000 euros per square meter seen in areas such as the French Riviera.
A Magnet for Foreign Investors
The combination of natural beauty, modern infrastructure, and relatively lower real estate costs has attracted international investors, particularly from the UK, Germany, China, the U.S., and the Middle East. The region’s proximity to downtown Athens and the international airport further enhances its appeal.
Several high-profile projects are also underway, including the Aeanon Metropolitan Park in Faliro. This 370 million euros waterfront attraction, spanning 570 acres, is set to feature pedestrian walkways, sports facilities, marinas, and open-air cinemas. Scheduled for completion in 2028, it is expected to further boost the area’s attractiveness as a prime real estate destination.
Source: tovima.com
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