Rushing for Golden Visas

The asking prices for a large portion of apartments in the center of Athens are now set at rates similar to those of the northern suburbs, or even higher.

Apartments of 90-110 square meters which have been renovated and are located near the popular tourism attractions, in areas such as Pangrati, Ambelokipi and Kypseli, bear asking prices of €250,000-300,000 - i.e. from €2,200 to €2,900/sq.m. - the same as newer apartments in the northern suburbs, which often come with parking spaces, a fireplace, natural gas heating and other amenities.

Accordingly, at the points of high demand from foreigners, such as Koukaki, Acropolis and Plaka, the asking prices range between €2,600 and €4,000/sq.m., while there are cases of even higher prices. The market notes that this sharp increase in downtown prices is largely a product of the past six months and is mainly due to the...