Greece’s Priciest Residence Listed for $318M Overlooking Acropolis

A residence overlooking the Acropolis in downtown Athens is on the market with a whopping price tag of $318M (300 million euros), making it the most expensive property in Greece and one of the priciest in the world.

The property, not only the priciest in Greece but also a lavish masterpiece, is situated on the iconic Dionysiou Areopagitou Street, beneath the nearly 2,500-year-old Parthenon temple, and is just steps away from the Herod Atticus Theater, dating back to 161 AD

With uninterrupted views of the Acropolis hill, the residence spans 3,300 square meters, and it features a rooftop garden which also has a small pool. The asking price stands at a stunning 90,900 euros per square meter.

The property is owned by the family of the late Elias Barbalias, founder of Elias Barbalias—Special Buildings Construction and Real Estate development. Barbalias, who passed away earlier this year, constructed the property.

Dionysiou Areopagitou, where the most expensive property in Greece is situated, is a prime location

Dionysiou Areopagitou is a wide, pedestrian street adjacent to the south slope of the Acropolis. It is the second most expensive street in Greece and Athens after Herodou Atticou Street, where the Presidential and Maximos Mansions are located.

Last year, a five-story mansion on Dionysiou Areopagitou Street called The Majestic was the most expensive property for sale in Athens, with an asking price of 48 million euros. Spanning over 2,000 square meters and also overlooking the Acropolis, the price per square meter was 22,717 euros. The property was listed for sale by international realtor Sotheby’s.

Luxury property prices in Athens rise

Prices of luxury homes in Athens saw the fourth largest increase among 30 cities worldwide in the first half of 2024, according to a survey by Savills, a British real estate consulting company. Athens was behind Lisbon, Amsterdam, and Madrid.

According to Savills, the main reason behind the rise in prices is the influx of foreign investors and buyers.

In another survey by Greece Sotheby’s International Realty, demand from domestic buyers for luxury homes during this year’s first half increased by 67 percent compared to the same time in 2023. Greek potential buyers were second after those in the US market. In third place in terms of demand were the British with an increase of 24 percent, followed by the French who remained at the same demand levels as in 2023.

Overall, housing prices in Greece showed a 7.9 percent increase in 2023, according to the Bank of Greece. The Attica region, where Athens is located, and the wider area of Thessaloniki in northern Greece remain the most popular areas in the country.