The Athenian Riviera is Becoming a Real Estate Hotspot

The Athenian Riviera has been undergoing a remarkable transformation in the last few years and is steadily emerging as a prime destination for luxury living, tourism and investment in the Greek capital.

Located just 20 minutes from the city center of Athens, this beautiful coastal area of Attica combines exceptional natural beauty, emerging modern infrastructure and some of Europe’s largest strategic development projects, like the Ellinikon, that are turning it into a real estate hotspot for the entire country.

The Athenian Riviera is gradually gaining the reputation of a magnet for international investors. This is partly because of its competitive property prices compared to other Mediterranean hotspots that have been at the forefront of real estate investment for decades.

While luxury properties on the French Riviera can cost up to €60,000 per square meter, prices on the Athenian Riviera average between €6,500 and €13,000 per square meter.

This remarkable affordability compared to the most well-established markets of luxury Mediterranean real estate, along with Greece’s Golden Visa program and rising demand for vacation homes, continues to attract wealthy buyers from Europe, the Middle East and Asia.

The Ellinikon is transforming the Athenian Riviera

At the forefront of this conduction boom transformation of the coastal areas of Athens is, of course, The Ellinikon, which is by far Europe’s largest urban regeneration project.

Located on the site of the former international airport of Athens, the ”Ellinikon”, this massive €8 billion project to create a smart city will feature luxury residences, commercial hubs, green spaces larger than New York‘s Hyde Park and cutting-edge sustainability infrastructure that align with Greece’s climatic priorities.

The project has already generated nearly €1 billion in property sales before any of the residencies being completed and is expected to change drastically urban living with its eco-friendly design and advanced technology in Athens.

Tourism also plays a crucial role in the regeneration and growth of popularity of the Athenian Riviera.

Recent investments include high-end resorts in Voula, turning the area into a hot spot of real estate investment.

The area also boasts ten Blue Flag-certified beaches as of 2024, proving the high quality of the Greek waters. Infrastructure enhancements like the 18-kilometre pedestrian and cycling path connecting Moschato to Vouliagmeni will further elevate its appeal as a four-season destination.

Real estate prices in the region rose by 7.9 per cent in 2024 and are projected to grow at a slower pace of 3 per cent in 2025. The ongoing development of marinas, luxury hotels and cultural landmarks like the Stavros Niarchos Foundation Cultural Center (SNFCC) also show that the Athenian Riviera will continue to grow as a top-tier destination for both investors and tourists.