Global Buyers Flock to Ellinikon Homes

The Ellinikon project, Greece’s flagship urban redevelopment, has become a magnet for international buyers. Speaking at the Athens Riviera Summit, Alexandros Moulas, Chief Commercial Officer, Residential at Lamda Development, revealed that around 17,000 prospective buyers from more than 110 countries have expressed interest in Ellinikon residences to date.

Europeans account for the majority of demand (65%), followed by Americans (15%) and buyers from the Middle East (12%). Strong interest is also coming from the UK, Australia, Canada, Germany, Turkey, and Switzerland.

Profiles and motivations

The buyer pool is diverse, with different motivations driving demand. According to Moulas, nearly half of buyers (47%) view their purchase as an investment, seeking rental yields of 5–7%. Another 29% are looking for a primary home, 21% for a second residence, while just 3% link their interest to Greece’s Golden Visa program.

Demand is strongest for two- and three-bedroom apartments, with larger units less in 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 at 7,000–8,000 euros per square meter, ranging from 400,000 to 2.5 million euros. The upscale “Park Rise” reaches up to 11,000 euros per square meter. So far, 93% of all released units across the development have been sold or reserved.

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

More than just real estate

Ellinikon is set to deliver 10,000 homes over its full development cycle. Beyond real estate, the project is reshaping the local environment: an area once covered 70% in concrete will be transformed into 70% green space. For Athens, Ellinikon is not only a landmark development—it is emerging as a global case study in urban regeneration.