The Ellinikon project, Greece’s flagship urban redevelopment, has become a magnet for
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
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