Ellinikon Project Fuels Surge in Southern Suburbs
The Athens Riviera, stretching from Piraeus to Sounion and Lavrio, continues to experience a sharp rise in property prices as demand remains robust. This coastal strip in the southern suburbs of Athens has surpassed all other regions in Greece in terms of price growth, largely due to the transformative Ellinikon urban regeneration project – the largest of its kind in Europe.
Interest from both Greek and international buyers, particularly from wealthier nations, is driving the surge, with foreign investors playing a significant role in pushing demand beyond supply. According to Premier Realty, property values in Athens' southern suburbs rose by approximately 7.9% in 2024, with a more moderate increase of about 3% projected for 2025.
Despite these gains, the Athens Riviera remains more affordable compared to other luxury Mediterranean destinations. Prices for newly built properties range from €6,800 to €13,000 per square meter, notably lower than the €30,000 to €60,000 per square meter seen on the French Riviera.
As the redevelopment of the coastal front progresses, experts anticipate further market shifts, solidifying the Athens Riviera's status as a premier real estate hotspot.
