Steadily Rising Prices and Demand
In 2024, property prices in the broader Southern Suburbs increased by 7.9%, while forecasts for 2025 indicate continued growth at a rate of around 3%, according to analyses. The areas with the highest demand are Glyfada, Voula, Vouliagmeni, and Elliniko, which combine lifestyle, sea access, and modern urban development.
The participation of foreign buyers is steadily increasing. 20% of purchase requests come from Germany, while significant percentages come from Austria and Switzerland (10% overall). Americans and Britons complete the list, seeking residences either for vacation use or for tourism exploitation and permanent residence. The preference is mainly for luxury homes with unobstructed views and immediate access to the coastal front.
Vouliagmeni: The "Diamond" of the Riviera
With average prices starting from €8,000/m² in the interior streets and reaching (or even exceeding) €25,000/m² in beachfront properties, Vouliagmeni maintains its role as the “diamond” of the Riviera. The scarcity of land, strict urban planning regulations, and the high added value of existing homes reinforce this trend.
The Elliniko Project and the New Dynamic
The iconic Elliniko project, covering 6.2 million sq.m., is evolving into a modern “city within a city.” The Metropolitan Park is expected to be completed by the end of 2025, while Riviera Tower (the tallest building in the country) and the Hard Rock Hotel & Casino Athens will come from 2026 onwards. Already, the first residences (Little Athens) have been pre-sold at prices above €8,500/m².
The Expansion of the Phenomenon to Surrounding Areas
The rise is not limited to the seaside. Areas such as Ano Glyfada, Alimos, Argyroupoli, Ilioupoli, and Nea Smyrni are experiencing secondary growth due to their proximity to the premium zones.
- They attract Greek investors and tenants who “cannot reach” the Riviera
- They are renovated with the aim of tourism or long-term utilization
- They see an increase in value of up to 15–20% within 24 months
The increased demand for short-term rentals and the lack of new-build homes make renovations a particularly profitable option. Older properties in areas such as Alimos, Ilioupoli, and Daphni are being transformed into modern apartments with high occupancy rates and returns.
Renovating and strategically positioning a property offers returns exceeding 6% annually.
The new commercial activity, especially around Elliniko, has led to increased demand for shops, offices, and mixed-use spaces. Old buildings are being transformed into modern hubs serving the new flow of workers, tourists, and businesses.
Available plots in the Southern Suburbs are now limited. The growing demand and building restrictions enhance the strategic value of land, especially near the sea or in redevelopment areas. Investing in land is becoming increasingly popular among institutional investors and construction companies.
The Athens Riviera as a Development Model
The Athens Riviera is not just an attractive destination; it is a model of sustainable urban development. The mix of tourism potential, green infrastructure, and high-end residences creates a new narrative for real estate in Athens.
The challenge and bet for the next five years is balancing quality of life, accessibility, and investment return.
SpitiGkonzalez is your GPS in the market
SpitiGkonzalez offers sellers real-time valuation based on prices per area and property type, while monitoring supply and demand not only along the coast but also in surrounding areas, providing comparative performance insights for those wondering if it’s the right time to sell.
For buyers and investors, it features a live map with average prices, appreciation, and yields per neighborhood, notifications for targeted properties in Ano Glyfada, Elliniko, Alimos, Voula, and other points of interest, as well as strategic tools for choosing between owner-occupation, tourism exploitation, or resale.
Tenants can compare prices in areas such as Glyfada and Alimos or Vouliagmeni and Ilioupoli, identify which streets and blocks are “rising,” and find new opportunities before they become highly sought after.
Finally, for everyone, the platform provides monthly strategic analyses on where the market is heading, so you can make decisions calmly and with awareness—not just observe developments, but stay ahead of them.
Frequently Asked Questions (FAQ)
1. What is the average purchase price of a residence in the Athens Riviera in 2025;
- Glyfada: ≈ €5,700/m²
- Voula: ≈ €5,680/m²
- Vouliagmeni: from €8,000/m², reaching up to €25,000/m² in beachfront properties
- Elliniko: ≈ €5,039/m²
2. Is it a good time to renovate an old apartment?
Yes, tourism demand and rental prices make renovation highly profitable.
3. If I want to rent near the Riviera, where should I look?
Alimos, Ilioupoli, Daphni, and Nea Smyrni have better prices and increasing demand.
4. Who is buying at the moment?
Germans, Austrians, Americans, and Golden Visa investors dominate demand.
5. What is the return on a property in the area?
Renovated properties can reach annual returns above 6% with short-term rentals.
6. Can SpitiGkonzalez assist with valuation too?
Yes, you can request a dynamic valuation based on the real-time market.
