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Engel & Völkers Artá | Mallorca: Year-round demand ensures stable price development

Mallorca: Year-round demand ensures stable price development

  • Buying motives of real estate clients in centre and northeast of the island focus on renewed closeness to nature and sustainability
  • Properties with top building standards offer potential for appreciation in value

Hamburg, 01 November 2022. Mallorca is the top dream destination for many German-speaking property buyers. The Balearic island is set to remain highly sought-after as an investment location in 2023. “Clients with long-term investment plans can enjoy the benefits of secluded living here, as well as the excellent infrastructure and year-round access to exclusive recreational and cultural activities, plus the broad choice offered by 17 international schools,” says Florian Hofer, Managing Director of Engel & Völkers in the Balearics. The focus of prospective property buyers has recently shifted, away from tourist hotspots, to the mountain villages steeped in history in the centre of the island and in the northeast. Client interest is increasingly focused on traditional finca estates and renovated townhouses, as well as contemporary new builds that meet the higher demands in terms of sustainability and eco standards. The limited availability of property listings and the consistent demand mean that prices are expected to stabilise at a high level moving forward.

Centre of the island: Short times to market for authentic country houses and upmarket rural estates

Inland in Mallorca’s central region, many historic mountain villages can be found nestled in glorious countryside dotted with almond and olive groves, and wine-growing estates. Traditional villages such as Alaró, Binissalem and Santa María are extremely desirable among buyers. With their beloved weekly markets, they are a magnet for local artisans, winegrowers and farmers alike. “Those looking to acquire real estate appreciate the proximity to the capital Palma, as well as the high degree of privacy offered by the substantial plots of land, where a return to nature and a more unspoilt, authentic Majorcan lifestyle can be experienced,” says Christina Deutsch, Managing Partner of Engel & Völkers Mallorca Centre & South. She is observing the following trend: “Real estate clients are looking increasingly at opportunities to own a sustainable home, and are drawn by the option of self-sufficiency, such as from growing olives or grapes in their own garden.” Demand is especially high for traditional country houses with expansive gardens and pools, as well as for authentic finca estates clad with a typical Majorcan stone façade. Such properties in prime locations in Santa María currently have average asking prices of 3 million euros. In the municipalities of Alaró and Bunyola, prices are between 2 and 3 million euros. Neighbouring towns like Binissalem and Consell command prices ranging from 1.5 to 2 million euros. The majority of buyers at the centre of Mallorca are from German-speaking countries. Recently, increasing numbers of prospective buyers from Spain, France, Belgium and the USA have been observed.

Northeast: High demand for retreats in nature and eco-efficient new properties

The northeast of Mallorca is blessed with unspoiled nature and breathtaking coastlines. Canyamel, Costa de los Pinos and Artà are among the most sought-after regions, where the Mediterranean flair of the Balearic island can be experienced in full, far removed from the heavily frequented tourist hotspots. Exclusive finca estates and villas with expansive outdoor areas, gardens and terraces with sea views are among the most desirable properties for sale in the north of the island. In prime locations around Artà and Colònia de St. Pere, the average asking prices for such homes are 1.9 million euros. In the coastal resorts between Cala Mesquida and Canyamel, and in the municipality of Manacor, prices range between 1.5 and 1.8 million euros. “Many buyers are opting to acquire a holiday property in their favourite destination and extend their stays on the island to combine holidays with remote working,” says Rainer Fischer, Managing Partner of Engel & Völkers Mallorca Northeast, adding: “The incredible restaurant scene and wealth of opportunities to pursue outdoor activities like golfing, sailing, hiking, or tennis at the Rafael Nadal Tennis Academy, give the region yet another boost in appeal.” The majority of search clients in the northeast are from German-speaking countries. There has recently been an increase in demand from people in the Netherlands looking for a new home on the island.

Outlook: Real estate as a long-term investment

“Residential properties at the centre of the island and in the northeast are particularly attractive for their moderate prices and potential for future appreciation in value. They serve as a long-term capital investment, offering a steadfast form of protection from inflation compared to other investment alternatives,” Florian Hofer says in summary. In view of Mallorca’s ongoing evolution into a destination for top-end tourism and the Balearic government’s constant investment in the development of the island’s infrastructure, the experts at Engel & Völkers are confident that the market will continue to see positive growth. 

 

Captions:

Refurbished 17th century estate with modern standards
Image Image  Image
This listed country house was built in 1604 between Alaró and Santa María. Its interiors span some 1,051 square metres in total, with six bedrooms and five bathrooms. Set in picturesque natural surroundings in the centre of Mallorca, the property extends over a plot of approximately two hectares. It is on the market for 6.85 million euros and features an outdoor pool and its own fountain, as well as an expansive terrace and garden grounds.
(Image source: Engel & Völkers Mallorca Central)

Eco-efficient country estate in Petra
Image Image  Image
Just a short walk from the winegrowing town of Petra, this traditional Majorcan property is currently listed with Engel & Völkers for 2.9 million euros. It spans some 876 square metres in total, consisting of two fully appointed houses separated by an outdoor pool and sourced with solar power. The main house boasts a spacious living and dining room, a kitchen, and five bedrooms. While the second house has a tourist rental licence for up to twelve people, and features a living and dining room with kitchen, and six en suite bedrooms. (Image source: Engel & Völkers Mallorca Central)

Modern villa with sea views in Canyamel
Image Image  Image
This newly built and ultra-modern villa is located on the sunny side of the coastal resort of Canyamel, close to Capdepera in the northeast of Majorca. It is on sale for 4.9 million euros. The three-level property spans 671 square metres in total, with four bedrooms, five bathrooms, a spacious living room, and a separate dining room with open plan kitchen, plus a home gym and home cinema. All the rooms and expansive terraces afford panoramic views out to the sea, taking in the spectacular coastal panorama of Canyamel. (Image source: Engel & Völkers Artá)

Charming finca estate in Costa de los Pinos
Image Image  Image
Very close to the coastal resorts of Costa de los Pinos and Port Vert, Engel & Völkers is currently brokering this exceptional finca estate with an asking price of 4.5 million euros. The property features a pool and has a plot spanning 7,100 square metres, with an interior of 522 square metres in size, including six bedrooms and six bathrooms. Premium natural materials were used in the construction, including untreated marble tiling, antique ceiling beams and teak window frames.
(Image source: Engel & Völkers Artá)

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Engel & Völkers Artá | Mallorca: Year-round demand ensures stable price development

Mallorca: Year-round demand ensures stable price development

  • Buying motives of real estate clients in centre and northeast of the island focus on renewed closeness to nature and sustainability
  • Properties with top building standards offer potential for appreciation in value

Hamburg, 01 November 2022. Mallorca is the top dream destination for many German-speaking property buyers. The Balearic island is set to remain highly sought-after as an investment location in 2023. “Clients with long-term investment plans can enjoy the benefits of secluded living here, as well as the excellent infrastructure and year-round access to exclusive recreational and cultural activities, plus the broad choice offered by 17 international schools,” says Florian Hofer, Managing Director of Engel & Völkers in the Balearics. The focus of prospective property buyers has recently shifted, away from tourist hotspots, to the mountain villages steeped in history in the centre of the island and in the northeast. Client interest is increasingly focused on traditional finca estates and renovated townhouses, as well as contemporary new builds that meet the higher demands in terms of sustainability and eco standards. The limited availability of property listings and the consistent demand mean that prices are expected to stabilise at a high level moving forward.

Centre of the island: Short times to market for authentic country houses and upmarket rural estates

Inland in Mallorca’s central region, many historic mountain villages can be found nestled in glorious countryside dotted with almond and olive groves, and wine-growing estates. Traditional villages such as Alaró, Binissalem and Santa María are extremely desirable among buyers. With their beloved weekly markets, they are a magnet for local artisans, winegrowers and farmers alike. “Those looking to acquire real estate appreciate the proximity to the capital Palma, as well as the high degree of privacy offered by the substantial plots of land, where a return to nature and a more unspoilt, authentic Majorcan lifestyle can be experienced,” says Christina Deutsch, Managing Partner of Engel & Völkers Mallorca Centre & South. She is observing the following trend: “Real estate clients are looking increasingly at opportunities to own a sustainable home, and are drawn by the option of self-sufficiency, such as from growing olives or grapes in their own garden.” Demand is especially high for traditional country houses with expansive gardens and pools, as well as for authentic finca estates clad with a typical Majorcan stone façade. Such properties in prime locations in Santa María currently have average asking prices of 3 million euros. In the municipalities of Alaró and Bunyola, prices are between 2 and 3 million euros. Neighbouring towns like Binissalem and Consell command prices ranging from 1.5 to 2 million euros. The majority of buyers at the centre of Mallorca are from German-speaking countries. Recently, increasing numbers of prospective buyers from Spain, France, Belgium and the USA have been observed.

Northeast: High demand for retreats in nature and eco-efficient new properties

The northeast of Mallorca is blessed with unspoiled nature and breathtaking coastlines. Canyamel, Costa de los Pinos and Artà are among the most sought-after regions, where the Mediterranean flair of the Balearic island can be experienced in full, far removed from the heavily frequented tourist hotspots. Exclusive finca estates and villas with expansive outdoor areas, gardens and terraces with sea views are among the most desirable properties for sale in the north of the island. In prime locations around Artà and Colònia de St. Pere, the average asking prices for such homes are 1.9 million euros. In the coastal resorts between Cala Mesquida and Canyamel, and in the municipality of Manacor, prices range between 1.5 and 1.8 million euros. “Many buyers are opting to acquire a holiday property in their favourite destination and extend their stays on the island to combine holidays with remote working,” says Rainer Fischer, Managing Partner of Engel & Völkers Mallorca Northeast, adding: “The incredible restaurant scene and wealth of opportunities to pursue outdoor activities like golfing, sailing, hiking, or tennis at the Rafael Nadal Tennis Academy, give the region yet another boost in appeal.” The majority of search clients in the northeast are from German-speaking countries. There has recently been an increase in demand from people in the Netherlands looking for a new home on the island.

Outlook: Real estate as a long-term investment

“Residential properties at the centre of the island and in the northeast are particularly attractive for their moderate prices and potential for future appreciation in value. They serve as a long-term capital investment, offering a steadfast form of protection from inflation compared to other investment alternatives,” Florian Hofer says in summary. In view of Mallorca’s ongoing evolution into a destination for top-end tourism and the Balearic government’s constant investment in the development of the island’s infrastructure, the experts at Engel & Völkers are confident that the market will continue to see positive growth. 

 

Captions:

Refurbished 17th century estate with modern standards
Image Image  Image
This listed country house was built in 1604 between Alaró and Santa María. Its interiors span some 1,051 square metres in total, with six bedrooms and five bathrooms. Set in picturesque natural surroundings in the centre of Mallorca, the property extends over a plot of approximately two hectares. It is on the market for 6.85 million euros and features an outdoor pool and its own fountain, as well as an expansive terrace and garden grounds.
(Image source: Engel & Völkers Mallorca Central)

Eco-efficient country estate in Petra
Image Image  Image
Just a short walk from the winegrowing town of Petra, this traditional Majorcan property is currently listed with Engel & Völkers for 2.9 million euros. It spans some 876 square metres in total, consisting of two fully appointed houses separated by an outdoor pool and sourced with solar power. The main house boasts a spacious living and dining room, a kitchen, and five bedrooms. While the second house has a tourist rental licence for up to twelve people, and features a living and dining room with kitchen, and six en suite bedrooms. (Image source: Engel & Völkers Mallorca Central)

Modern villa with sea views in Canyamel
Image Image  Image
This newly built and ultra-modern villa is located on the sunny side of the coastal resort of Canyamel, close to Capdepera in the northeast of Majorca. It is on sale for 4.9 million euros. The three-level property spans 671 square metres in total, with four bedrooms, five bathrooms, a spacious living room, and a separate dining room with open plan kitchen, plus a home gym and home cinema. All the rooms and expansive terraces afford panoramic views out to the sea, taking in the spectacular coastal panorama of Canyamel. (Image source: Engel & Völkers Artá)

Charming finca estate in Costa de los Pinos
Image Image  Image
Very close to the coastal resorts of Costa de los Pinos and Port Vert, Engel & Völkers is currently brokering this exceptional finca estate with an asking price of 4.5 million euros. The property features a pool and has a plot spanning 7,100 square metres, with an interior of 522 square metres in size, including six bedrooms and six bathrooms. Premium natural materials were used in the construction, including untreated marble tiling, antique ceiling beams and teak window frames.
(Image source: Engel & Völkers Artá)

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Engel & Völkers Artá | Mallorca: Year-round demand ensures stable price development

Mallorca: Year-round demand ensures stable price development

  • Buying motives of real estate clients in centre and northeast of the island focus on renewed closeness to nature and sustainability
  • Properties with top building standards offer potential for appreciation in value

Hamburg, 01 November 2022. Mallorca is the top dream destination for many German-speaking property buyers. The Balearic island is set to remain highly sought-after as an investment location in 2023. “Clients with long-term investment plans can enjoy the benefits of secluded living here, as well as the excellent infrastructure and year-round access to exclusive recreational and cultural activities, plus the broad choice offered by 17 international schools,” says Florian Hofer, Managing Director of Engel & Völkers in the Balearics. The focus of prospective property buyers has recently shifted, away from tourist hotspots, to the mountain villages steeped in history in the centre of the island and in the northeast. Client interest is increasingly focused on traditional finca estates and renovated townhouses, as well as contemporary new builds that meet the higher demands in terms of sustainability and eco standards. The limited availability of property listings and the consistent demand mean that prices are expected to stabilise at a high level moving forward.

Centre of the island: Short times to market for authentic country houses and upmarket rural estates

Inland in Mallorca’s central region, many historic mountain villages can be found nestled in glorious countryside dotted with almond and olive groves, and wine-growing estates. Traditional villages such as Alaró, Binissalem and Santa María are extremely desirable among buyers. With their beloved weekly markets, they are a magnet for local artisans, winegrowers and farmers alike. “Those looking to acquire real estate appreciate the proximity to the capital Palma, as well as the high degree of privacy offered by the substantial plots of land, where a return to nature and a more unspoilt, authentic Majorcan lifestyle can be experienced,” says Christina Deutsch, Managing Partner of Engel & Völkers Mallorca Centre & South. She is observing the following trend: “Real estate clients are looking increasingly at opportunities to own a sustainable home, and are drawn by the option of self-sufficiency, such as from growing olives or grapes in their own garden.” Demand is especially high for traditional country houses with expansive gardens and pools, as well as for authentic finca estates clad with a typical Majorcan stone façade. Such properties in prime locations in Santa María currently have average asking prices of 3 million euros. In the municipalities of Alaró and Bunyola, prices are between 2 and 3 million euros. Neighbouring towns like Binissalem and Consell command prices ranging from 1.5 to 2 million euros. The majority of buyers at the centre of Mallorca are from German-speaking countries. Recently, increasing numbers of prospective buyers from Spain, France, Belgium and the USA have been observed.

Northeast: High demand for retreats in nature and eco-efficient new properties

The northeast of Mallorca is blessed with unspoiled nature and breathtaking coastlines. Canyamel, Costa de los Pinos and Artà are among the most sought-after regions, where the Mediterranean flair of the Balearic island can be experienced in full, far removed from the heavily frequented tourist hotspots. Exclusive finca estates and villas with expansive outdoor areas, gardens and terraces with sea views are among the most desirable properties for sale in the north of the island. In prime locations around Artà and Colònia de St. Pere, the average asking prices for such homes are 1.9 million euros. In the coastal resorts between Cala Mesquida and Canyamel, and in the municipality of Manacor, prices range between 1.5 and 1.8 million euros. “Many buyers are opting to acquire a holiday property in their favourite destination and extend their stays on the island to combine holidays with remote working,” says Rainer Fischer, Managing Partner of Engel & Völkers Mallorca Northeast, adding: “The incredible restaurant scene and wealth of opportunities to pursue outdoor activities like golfing, sailing, hiking, or tennis at the Rafael Nadal Tennis Academy, give the region yet another boost in appeal.” The majority of search clients in the northeast are from German-speaking countries. There has recently been an increase in demand from people in the Netherlands looking for a new home on the island.

Outlook: Real estate as a long-term investment

“Residential properties at the centre of the island and in the northeast are particularly attractive for their moderate prices and potential for future appreciation in value. They serve as a long-term capital investment, offering a steadfast form of protection from inflation compared to other investment alternatives,” Florian Hofer says in summary. In view of Mallorca’s ongoing evolution into a destination for top-end tourism and the Balearic government’s constant investment in the development of the island’s infrastructure, the experts at Engel & Völkers are confident that the market will continue to see positive growth. 

 

Captions:

Refurbished 17th century estate with modern standards
Image Image  Image
This listed country house was built in 1604 between Alaró and Santa María. Its interiors span some 1,051 square metres in total, with six bedrooms and five bathrooms. Set in picturesque natural surroundings in the centre of Mallorca, the property extends over a plot of approximately two hectares. It is on the market for 6.85 million euros and features an outdoor pool and its own fountain, as well as an expansive terrace and garden grounds.
(Image source: Engel & Völkers Mallorca Central)

Eco-efficient country estate in Petra
Image Image  Image
Just a short walk from the winegrowing town of Petra, this traditional Majorcan property is currently listed with Engel & Völkers for 2.9 million euros. It spans some 876 square metres in total, consisting of two fully appointed houses separated by an outdoor pool and sourced with solar power. The main house boasts a spacious living and dining room, a kitchen, and five bedrooms. While the second house has a tourist rental licence for up to twelve people, and features a living and dining room with kitchen, and six en suite bedrooms. (Image source: Engel & Völkers Mallorca Central)

Modern villa with sea views in Canyamel
Image Image  Image
This newly built and ultra-modern villa is located on the sunny side of the coastal resort of Canyamel, close to Capdepera in the northeast of Majorca. It is on sale for 4.9 million euros. The three-level property spans 671 square metres in total, with four bedrooms, five bathrooms, a spacious living room, and a separate dining room with open plan kitchen, plus a home gym and home cinema. All the rooms and expansive terraces afford panoramic views out to the sea, taking in the spectacular coastal panorama of Canyamel. (Image source: Engel & Völkers Artá)

Charming finca estate in Costa de los Pinos
Image Image  Image
Very close to the coastal resorts of Costa de los Pinos and Port Vert, Engel & Völkers is currently brokering this exceptional finca estate with an asking price of 4.5 million euros. The property features a pool and has a plot spanning 7,100 square metres, with an interior of 522 square metres in size, including six bedrooms and six bathrooms. Premium natural materials were used in the construction, including untreated marble tiling, antique ceiling beams and teak window frames.
(Image source: Engel & Völkers Artá)

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Engel & Völkers | Athens Riviera: Beautiful living close to the city  centre

Engel & Völkers | Athens Riviera: Beautiful living close to the city  centre

  • Average prices per square metre of 7,000 euros
  • Appeal of the region is drawing increasing international demand
  • Europe’s largest urban development project on former airport site 

Hamburg, 20 October 2022. The southern edge of the Greek capital Athens, just a 20-minute drive south of the Acropolis, marks the start of the Athens Riviera – stretching almost 50 kilometres along the Saronic Gulf. This picturesque coastline, from the port of Piraeus to Cape Sounion, is famous for its award-winning beaches, rocky bays with crystal-clear waters and elegant, cosmopolitan, but at the same time laid-back flair. “The Athens Riviera is currently undergoing a remarkable renaissance. Vision meets tradition here, with an atmosphere reminiscent of Beverly Hills, only without so many tourists. Many hotspots along this coast are still considered insider tips, even among Athenians, with a great deal of potential to offer. The high pace of construction activity in recent months is reflective of the dynamic development the region is currently witnessing,” says Georg Petras, CEO of Engel & Völkers Greece.

Strong demand in all coastal locations

Facing southwest and enjoying around 300 days of sunshine a year, the entire length of this coastline is known for its sensational sunsets. This makes properties here in beachfront locations overlooking the Aegean Sea especially sought after. The size and diversity of the Athens Riviera ensure an above-average number of property listings and a broad price range, whereby prices are generally more moderate than in the rest of Europe, even in the very good locations. Average square metres range from 6,000 to 7,000 euros. The highest priced areas along the Riviera include Vouliagmeni, Voula and Glyfada. These elegant Athens suburbs are also known as the “Hellenic Hamptons”. They boast a range of shopping and nightlife options, from local shops and authentic tavernas through to designer boutiques, gourmet restaurants and cocktail bars, in addition to charming waterfront promenades and exclusive beach clubs. Increasing popularity on the international stage saw the average price per square metre for apartments rise to 7,000 euros in very good locations in H1 2022 (H1 2021: 5.000 euros). Top prices per square can range up to 10,000 euros. Contemporary villas with premium amenities directly on the coast reach average prices of 8,000 to 12,000 euros per square metre. Luxurious residences with exceptional flair and extra-special features can sell for as much as 6 million euros.
Rising prices mean that buyer interest is shifting further away from the centre of Athens, to average locations. “The distance from the city centre to the southernmost point of the Riviera, Cape Sounion, is, in fact, only around an hour’s drive. It is still possible here to find properties directly by the sea at very moderate prices. The abundant possibilities on offer, the convenient location, and potential for relaxation and recreation all make real estate in the more southern parts of the Athens Riviera a superb investment as well,” says Georg Petras. From the region around Lagonisi to Lavrio at the southernmost tip of the Riviera, prices for detached properties range from 600.000 to 700.000 euros. Apartments are priced at an average of approx. 4,000 euros per square metre.

New construction projects boost global appeal of Athenian coastline

Besides existing properties in classic locations, it is the various new construction and regeneration projects in the region that are the driving force behind the strong market dynamics and growing international interest in the Athens Riviera. A prime example of such a project is the new groundbreaking and visionary Hellinikon quarter. Currently the largest urban development in the whole of Europe, it is taking shape on the site of the former Ellinikon Airport, which has been defunct since 2001. The area spans some 620 hectares in total, and a host of dining and recreational amenities are set to take shape here from 2023 onwards, alongside residential and commercial units in a bioclimatic, hybrid architectural design. The new quarter will also boast a marina, as well as a public park spanning two million square metres, with approximately 50 kilometres of cycle paths and walking trails. “The creation of Hellinikon will open up a new chapter for Athens and Greece, and we expect international interest in the Athens Riviera to grow and the location to gain international importance,” Mr. Petras declares. The areas of Neo Faliro and Moschato, along with the port town of Piraeus, directly south of the centre of Athens on the coast, are also up-and-coming regions with particularly high potential for regeneration and new major construction projects. The average price for contemporary newly-built villas is 1 million euros, while existing properties sell for an average of 500.000 euros.

Domestic clients dominate real estate market – international buyer groups catching up

Due to its proximity to the centre of Athens and the international airport, the Riviera is a desirable place of residence among professionals working in the Greek capital, as well as frequent flyers, families and retirees looking to lead an active lifestyle. The property market is still dominated by domestic buyers, accounting for some 60 percent of activity. In the elegant area of Vouliagmeni this ratio is even up to 90 percent. Nonetheless, the region is fast evolving from a local insider’s tip into an internationally sought-after residential area and holiday destination, both in terms of primary residences and investments. The majority of buyer groups abroad come from Central Europe at approx. 40 percent. 20 percent of these international clients are from Germany, 10 percent are from Switzerland, and 10 percent are from the UK.

Outlook: Booming tourism sector set to strengthen real estate market further

In addition to its desirable geographical location and high quality of life, it is the large number of new development projects that are putting Athens Riviera on the map again as a sought-after international hotspot. The region is set to become increasingly important as a market for first and second homes due to the rise in global demand. Engel & Völkers expects prices to increase moderately for the remainder of 2022 and the market to see positive growth in 2023, as Georg Petras confirms: “A new heyday for the region is upon us, with an exciting future ahead. The Athenian coast will continue to play a more central role for the Greek tourism sector, and this will have a positive impact on the real estate market here in the long term.”
Please be sure to include the copyright notice when using any of the images.

Captions: (Image source: Engel & Völkers Greece)

Visionary new built in Vouliagmeni
Image Image ImageThe Chrysalis is a visionary complex of four exclusive independent residences in the prime location of Vouliagmeni. The Chrysalis A1 residence is being marketed by Engel & Völkers for approx. 6.35 million euros. The architecture resembles the shape of a butterfly, whose wings extend from the properties to the garden area, providing shade for the ground floor and sea views for the top floor. Each residency features five bedrooms and five bathrooms on a total living area of approx. 500 square metres. Several luxurious amenities like wellness areas and guest apartments complete the offer.

Gate to the Aegean
Image Image ImageThis villa is located on a unique 4,820 square metres plot, only one kilometre away from Cape Sounio and the world famous Poseidon Temple, which is listed as an archaeological and heritage site. The total living area spans over more than 430 square metres, featuring four bedrooms, five bathrooms as well as two completely independent en-suite guest houses. Highlight of the property is its unobstructed panoramic view over the South Aegean. The residence is for sale with Engel & Völkers upon request.

Two luxurious villas in walking distance to the beach
Image Image Image Engel & Völkers is marketing these two modern villas close to Cape Sounion on a 3,000 square metre plot for approx. 4.4 million euros. Both villas are luxuriously equipped, each offering five large bedrooms, five bathrooms as well as a private pool. Due to the direct proximity to the sea, panoramic vistas and sunsets from each terrace are ensured.

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Engel & Völkers | Athens Riviera: Beautiful living close to the city  centre

Engel & Völkers | Athens Riviera: Beautiful living close to the city  centre

  • Average prices per square metre of 7,000 euros
  • Appeal of the region is drawing increasing international demand
  • Europe’s largest urban development project on former airport site 

Hamburg, 20 October 2022. The southern edge of the Greek capital Athens, just a 20-minute drive south of the Acropolis, marks the start of the Athens Riviera – stretching almost 50 kilometres along the Saronic Gulf. This picturesque coastline, from the port of Piraeus to Cape Sounion, is famous for its award-winning beaches, rocky bays with crystal-clear waters and elegant, cosmopolitan, but at the same time laid-back flair. “The Athens Riviera is currently undergoing a remarkable renaissance. Vision meets tradition here, with an atmosphere reminiscent of Beverly Hills, only without so many tourists. Many hotspots along this coast are still considered insider tips, even among Athenians, with a great deal of potential to offer. The high pace of construction activity in recent months is reflective of the dynamic development the region is currently witnessing,” says Georg Petras, CEO of Engel & Völkers Greece.

Strong demand in all coastal locations

Facing southwest and enjoying around 300 days of sunshine a year, the entire length of this coastline is known for its sensational sunsets. This makes properties here in beachfront locations overlooking the Aegean Sea especially sought after. The size and diversity of the Athens Riviera ensure an above-average number of property listings and a broad price range, whereby prices are generally more moderate than in the rest of Europe, even in the very good locations. Average square metres range from 6,000 to 7,000 euros. The highest priced areas along the Riviera include Vouliagmeni, Voula and Glyfada. These elegant Athens suburbs are also known as the “Hellenic Hamptons”. They boast a range of shopping and nightlife options, from local shops and authentic tavernas through to designer boutiques, gourmet restaurants and cocktail bars, in addition to charming waterfront promenades and exclusive beach clubs. Increasing popularity on the international stage saw the average price per square metre for apartments rise to 7,000 euros in very good locations in H1 2022 (H1 2021: 5.000 euros). Top prices per square can range up to 10,000 euros. Contemporary villas with premium amenities directly on the coast reach average prices of 8,000 to 12,000 euros per square metre. Luxurious residences with exceptional flair and extra-special features can sell for as much as 6 million euros.
Rising prices mean that buyer interest is shifting further away from the centre of Athens, to average locations. “The distance from the city centre to the southernmost point of the Riviera, Cape Sounion, is, in fact, only around an hour’s drive. It is still possible here to find properties directly by the sea at very moderate prices. The abundant possibilities on offer, the convenient location, and potential for relaxation and recreation all make real estate in the more southern parts of the Athens Riviera a superb investment as well,” says Georg Petras. From the region around Lagonisi to Lavrio at the southernmost tip of the Riviera, prices for detached properties range from 600.000 to 700.000 euros. Apartments are priced at an average of approx. 4,000 euros per square metre.

New construction projects boost global appeal of Athenian coastline

Besides existing properties in classic locations, it is the various new construction and regeneration projects in the region that are the driving force behind the strong market dynamics and growing international interest in the Athens Riviera. A prime example of such a project is the new groundbreaking and visionary Hellinikon quarter. Currently the largest urban development in the whole of Europe, it is taking shape on the site of the former Ellinikon Airport, which has been defunct since 2001. The area spans some 620 hectares in total, and a host of dining and recreational amenities are set to take shape here from 2023 onwards, alongside residential and commercial units in a bioclimatic, hybrid architectural design. The new quarter will also boast a marina, as well as a public park spanning two million square metres, with approximately 50 kilometres of cycle paths and walking trails. “The creation of Hellinikon will open up a new chapter for Athens and Greece, and we expect international interest in the Athens Riviera to grow and the location to gain international importance,” Mr. Petras declares. The areas of Neo Faliro and Moschato, along with the port town of Piraeus, directly south of the centre of Athens on the coast, are also up-and-coming regions with particularly high potential for regeneration and new major construction projects. The average price for contemporary newly-built villas is 1 million euros, while existing properties sell for an average of 500.000 euros.

Domestic clients dominate real estate market – international buyer groups catching up

Due to its proximity to the centre of Athens and the international airport, the Riviera is a desirable place of residence among professionals working in the Greek capital, as well as frequent flyers, families and retirees looking to lead an active lifestyle. The property market is still dominated by domestic buyers, accounting for some 60 percent of activity. In the elegant area of Vouliagmeni this ratio is even up to 90 percent. Nonetheless, the region is fast evolving from a local insider’s tip into an internationally sought-after residential area and holiday destination, both in terms of primary residences and investments. The majority of buyer groups abroad come from Central Europe at approx. 40 percent. 20 percent of these international clients are from Germany, 10 percent are from Switzerland, and 10 percent are from the UK.

Outlook: Booming tourism sector set to strengthen real estate market further

In addition to its desirable geographical location and high quality of life, it is the large number of new development projects that are putting Athens Riviera on the map again as a sought-after international hotspot. The region is set to become increasingly important as a market for first and second homes due to the rise in global demand. Engel & Völkers expects prices to increase moderately for the remainder of 2022 and the market to see positive growth in 2023, as Georg Petras confirms: “A new heyday for the region is upon us, with an exciting future ahead. The Athenian coast will continue to play a more central role for the Greek tourism sector, and this will have a positive impact on the real estate market here in the long term.”
Please be sure to include the copyright notice when using any of the images.

Captions: (Image source: Engel & Völkers Greece)

Visionary new built in Vouliagmeni
Image Image ImageThe Chrysalis is a visionary complex of four exclusive independent residences in the prime location of Vouliagmeni. The Chrysalis A1 residence is being marketed by Engel & Völkers for approx. 6.35 million euros. The architecture resembles the shape of a butterfly, whose wings extend from the properties to the garden area, providing shade for the ground floor and sea views for the top floor. Each residency features five bedrooms and five bathrooms on a total living area of approx. 500 square metres. Several luxurious amenities like wellness areas and guest apartments complete the offer.

Gate to the Aegean
Image Image ImageThis villa is located on a unique 4,820 square metres plot, only one kilometre away from Cape Sounio and the world famous Poseidon Temple, which is listed as an archaeological and heritage site. The total living area spans over more than 430 square metres, featuring four bedrooms, five bathrooms as well as two completely independent en-suite guest houses. Highlight of the property is its unobstructed panoramic view over the South Aegean. The residence is for sale with Engel & Völkers upon request.

Two luxurious villas in walking distance to the beach
Image Image Image Engel & Völkers is marketing these two modern villas close to Cape Sounion on a 3,000 square metre plot for approx. 4.4 million euros. Both villas are luxuriously equipped, each offering five large bedrooms, five bathrooms as well as a private pool. Due to the direct proximity to the sea, panoramic vistas and sunsets from each terrace are ensured.

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Engel & Völkers | Athens Riviera: Beautiful living close to the city  centre

Engel & Völkers | Athens Riviera: Beautiful living close to the city  centre

  • Average prices per square metre of 7,000 euros
  • Appeal of the region is drawing increasing international demand
  • Europe’s largest urban development project on former airport site 

Hamburg, 20 October 2022. The southern edge of the Greek capital Athens, just a 20-minute drive south of the Acropolis, marks the start of the Athens Riviera – stretching almost 50 kilometres along the Saronic Gulf. This picturesque coastline, from the port of Piraeus to Cape Sounion, is famous for its award-winning beaches, rocky bays with crystal-clear waters and elegant, cosmopolitan, but at the same time laid-back flair. “The Athens Riviera is currently undergoing a remarkable renaissance. Vision meets tradition here, with an atmosphere reminiscent of Beverly Hills, only without so many tourists. Many hotspots along this coast are still considered insider tips, even among Athenians, with a great deal of potential to offer. The high pace of construction activity in recent months is reflective of the dynamic development the region is currently witnessing,” says Georg Petras, CEO of Engel & Völkers Greece.

Strong demand in all coastal locations

Facing southwest and enjoying around 300 days of sunshine a year, the entire length of this coastline is known for its sensational sunsets. This makes properties here in beachfront locations overlooking the Aegean Sea especially sought after. The size and diversity of the Athens Riviera ensure an above-average number of property listings and a broad price range, whereby prices are generally more moderate than in the rest of Europe, even in the very good locations. Average square metres range from 6,000 to 7,000 euros. The highest priced areas along the Riviera include Vouliagmeni, Voula and Glyfada. These elegant Athens suburbs are also known as the “Hellenic Hamptons”. They boast a range of shopping and nightlife options, from local shops and authentic tavernas through to designer boutiques, gourmet restaurants and cocktail bars, in addition to charming waterfront promenades and exclusive beach clubs. Increasing popularity on the international stage saw the average price per square metre for apartments rise to 7,000 euros in very good locations in H1 2022 (H1 2021: 5.000 euros). Top prices per square can range up to 10,000 euros. Contemporary villas with premium amenities directly on the coast reach average prices of 8,000 to 12,000 euros per square metre. Luxurious residences with exceptional flair and extra-special features can sell for as much as 6 million euros.
Rising prices mean that buyer interest is shifting further away from the centre of Athens, to average locations. “The distance from the city centre to the southernmost point of the Riviera, Cape Sounion, is, in fact, only around an hour’s drive. It is still possible here to find properties directly by the sea at very moderate prices. The abundant possibilities on offer, the convenient location, and potential for relaxation and recreation all make real estate in the more southern parts of the Athens Riviera a superb investment as well,” says Georg Petras. From the region around Lagonisi to Lavrio at the southernmost tip of the Riviera, prices for detached properties range from 600.000 to 700.000 euros. Apartments are priced at an average of approx. 4,000 euros per square metre.

New construction projects boost global appeal of Athenian coastline

Besides existing properties in classic locations, it is the various new construction and regeneration projects in the region that are the driving force behind the strong market dynamics and growing international interest in the Athens Riviera. A prime example of such a project is the new groundbreaking and visionary Hellinikon quarter. Currently the largest urban development in the whole of Europe, it is taking shape on the site of the former Ellinikon Airport, which has been defunct since 2001. The area spans some 620 hectares in total, and a host of dining and recreational amenities are set to take shape here from 2023 onwards, alongside residential and commercial units in a bioclimatic, hybrid architectural design. The new quarter will also boast a marina, as well as a public park spanning two million square metres, with approximately 50 kilometres of cycle paths and walking trails. “The creation of Hellinikon will open up a new chapter for Athens and Greece, and we expect international interest in the Athens Riviera to grow and the location to gain international importance,” Mr. Petras declares. The areas of Neo Faliro and Moschato, along with the port town of Piraeus, directly south of the centre of Athens on the coast, are also up-and-coming regions with particularly high potential for regeneration and new major construction projects. The average price for contemporary newly-built villas is 1 million euros, while existing properties sell for an average of 500.000 euros.

Domestic clients dominate real estate market – international buyer groups catching up

Due to its proximity to the centre of Athens and the international airport, the Riviera is a desirable place of residence among professionals working in the Greek capital, as well as frequent flyers, families and retirees looking to lead an active lifestyle. The property market is still dominated by domestic buyers, accounting for some 60 percent of activity. In the elegant area of Vouliagmeni this ratio is even up to 90 percent. Nonetheless, the region is fast evolving from a local insider’s tip into an internationally sought-after residential area and holiday destination, both in terms of primary residences and investments. The majority of buyer groups abroad come from Central Europe at approx. 40 percent. 20 percent of these international clients are from Germany, 10 percent are from Switzerland, and 10 percent are from the UK.

Outlook: Booming tourism sector set to strengthen real estate market further

In addition to its desirable geographical location and high quality of life, it is the large number of new development projects that are putting Athens Riviera on the map again as a sought-after international hotspot. The region is set to become increasingly important as a market for first and second homes due to the rise in global demand. Engel & Völkers expects prices to increase moderately for the remainder of 2022 and the market to see positive growth in 2023, as Georg Petras confirms: “A new heyday for the region is upon us, with an exciting future ahead. The Athenian coast will continue to play a more central role for the Greek tourism sector, and this will have a positive impact on the real estate market here in the long term.”
Please be sure to include the copyright notice when using any of the images.

Captions: (Image source: Engel & Völkers Greece)

Visionary new built in Vouliagmeni
Image Image ImageThe Chrysalis is a visionary complex of four exclusive independent residences in the prime location of Vouliagmeni. The Chrysalis A1 residence is being marketed by Engel & Völkers for approx. 6.35 million euros. The architecture resembles the shape of a butterfly, whose wings extend from the properties to the garden area, providing shade for the ground floor and sea views for the top floor. Each residency features five bedrooms and five bathrooms on a total living area of approx. 500 square metres. Several luxurious amenities like wellness areas and guest apartments complete the offer.

Gate to the Aegean
Image Image ImageThis villa is located on a unique 4,820 square metres plot, only one kilometre away from Cape Sounio and the world famous Poseidon Temple, which is listed as an archaeological and heritage site. The total living area spans over more than 430 square metres, featuring four bedrooms, five bathrooms as well as two completely independent en-suite guest houses. Highlight of the property is its unobstructed panoramic view over the South Aegean. The residence is for sale with Engel & Völkers upon request.

Two luxurious villas in walking distance to the beach
Image Image Image Engel & Völkers is marketing these two modern villas close to Cape Sounion on a 3,000 square metre plot for approx. 4.4 million euros. Both villas are luxuriously equipped, each offering five large bedrooms, five bathrooms as well as a private pool. Due to the direct proximity to the sea, panoramic vistas and sunsets from each terrace are ensured.

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Engel & Volkers | Riviera de Atenas: hermosa vida cerca del centro de la ciudad

Engel & Volkers | Riviera de Atenas: hermosa vida cerca del centro de la ciudad

  • Precios medios por metro cuadrado de 7.000 euros
  • El atractivo de la región está atrayendo una creciente demanda internacional
  • El proyecto de desarrollo urbano más grande de Europa en el sitio del antiguo aeropuerto

Hamburgo, 20 de octubre de 2022. El extremo sur de la capital griega, Atenas, a solo 20 minutos en coche al sur de la Acrópolis, marca el comienzo de la Riviera de Atenas, que se extiende casi 50 kilómetros a lo largo del golfo Sarónico. Esta pintoresca costa, desde el puerto de El Pireo hasta el cabo Sounion, es famosa por sus galardonadas playas, bahías rocosas con aguas cristalinas y un ambiente elegante y cosmopolita, pero al mismo tiempo relajado. “La Riviera de Atenas actualmente está experimentando un renacimiento notable. La visión se encuentra con la tradición aquí, con una atmósfera que recuerda a Beverly Hills, solo que sin tantos turistas. Muchos puntos de acceso a lo largo de esta costa todavía se consideran consejos de expertos, incluso entre los atenienses, con una gran cantidad de potencial para ofrecer. El alto ritmo de la actividad de construcción en los últimos meses refleja el desarrollo dinámico que la región está experimentando actualmente”, dice Georg Petras, CEO de Engel & Völkers Grecia.

Fuerte demanda en todas las localidades costeras

Orientada al suroeste y disfrutando de unos 300 días de sol al año, esta costa en toda su longitud es conocida por sus sensacionales puestas de sol. Esto hace que las propiedades aquí en ubicaciones frente al mar con vistas al mar Egeo sean especialmente buscadas. El tamaño y la diversidad de la Riviera de Atenas garantizan un número superior a la media de listados de propiedades y una amplia gama de precios, por lo que los precios son generalmente más moderados que en el resto de Europa, incluso en las muy buenas ubicaciones. Los metros cuadrados medios oscilan entre los 6.000 y los 7.000 euros. Las áreas con los precios más altos a lo largo de la Riviera incluyen Vouliagmeni, Voula y Glyfada. Estos elegantes suburbios de Atenas también se conocen como los “Hamptons helénicos”. Cuentan con una variedad de opciones de compras y vida nocturna, desde tiendas locales y auténticas tabernas hasta boutiques de diseñadores, restaurantes gourmet y bares de copas, además de encantadores paseos marítimos y exclusivos clubes de playa. La creciente popularidad en el escenario internacional hizo que el precio promedio por metro cuadrado de los apartamentos aumentara a 7.000 euros en muy buenas ubicaciones en el primer semestre de 2022 (primer semestre de 2021: 5.000 euros). Los precios top por plaza pueden llegar hasta los 10.000 euros. Las villas contemporáneas con comodidades premium directamente en la costa alcanzan precios promedio de 8.000 a 12.000 euros por metro cuadrado. Las residencias de lujo con un estilo excepcional y características extra especiales pueden venderse por hasta 6 millones de euros.
El aumento de los precios significa que el interés de los compradores se está alejando cada vez más del centro de Atenas, hacia ubicaciones promedio. “La distancia desde el centro de la ciudad hasta el punto más al sur de la Riviera, Cabo Sunión, es, de hecho, de solo una hora en coche. Todavía es posible encontrar aquí propiedades directamente junto al mar a precios muy moderados. Las abundantes posibilidades en oferta, la ubicación conveniente y el potencial para la relajación y la recreación hacen que las propiedades inmobiliarias en las partes más al sur de la Riviera de Atenas también sean una excelente inversión”, dice Georg Petras. Desde la región de Lagonisi hasta Lavrio, en el extremo sur de la Riviera, los precios de las viviendas unifamiliares oscilan entre los 600 000 y los 700 000 euros. Los apartamentos tienen un precio promedio de aprox. 4.000 euros el metro cuadrado.

Los nuevos proyectos de construcción aumentan el atractivo mundial de la costa ateniense

Además de las propiedades existentes en ubicaciones clásicas, son los diversos proyectos de nueva construcción y regeneración en la región los que impulsan la fuerte dinámica del mercado y el creciente interés internacional en la Riviera de Atenas. Un excelente ejemplo de un proyecto de este tipo es el nuevo e innovador y visionario barrio Hellikikon. Actualmente, el desarrollo urbano más grande de toda Europa, está tomando forma en el sitio del antiguo aeropuerto de Ellinikon, que ha estado cerrado desde 2001. El área abarca unas 620 hectáreas en total, y se establecen una gran cantidad de restaurantes y servicios recreativos. tomará forma aquí a partir de 2023, junto con unidades residenciales y comerciales en un diseño arquitectónico bioclimático e híbrido. El nuevo barrio también contará con un puerto deportivo, así como con un parque público de dos millones de metros cuadrados, con aproximadamente 50 kilómetros de ciclovías y senderos para caminar. “La creación de Hellinikon abrirá un nuevo capítulo para Atenas y Grecia, y esperamos que crezca el interés internacional en la Riviera de Atenas y que la ubicación gane importancia internacional”, declara el Sr. Petras. Las áreas de Neo Faliro y Moschato, junto con la ciudad portuaria de Pireo, directamente al sur del centro de Atenas en la costa, también son regiones prometedoras con un potencial particularmente alto para la regeneración y nuevos proyectos de construcción importantes. El precio medio de las villas contemporáneas de nueva construcción es de 1 millón de euros, mientras que las propiedades existentes se venden por una media de 500.000 euros.

Los clientes nacionales dominan el mercado inmobiliario: los grupos de compradores internacionales se están poniendo al día

Debido a su proximidad al centro de Atenas y al aeropuerto internacional, la Riviera es un lugar de residencia deseable entre los profesionales que trabajan en la capital griega, así como viajeros frecuentes, familias y jubilados que buscan llevar un estilo de vida activo. El mercado inmobiliario todavía está dominado por compradores nacionales, que representan alrededor del 60 por ciento de la actividad. En la elegante zona de Vouliagmeni, esta proporción llega incluso al 90 por ciento. No obstante, la región está evolucionando rápidamente de ser un lugar privilegiado local a convertirse en un área residencial y un destino de vacaciones buscado internacionalmente, tanto en términos de residencia principal como de inversión. La mayoría de los grupos de compradores en el extranjero provienen de Europa Central a aprox. 40 por ciento El 20 por ciento de estos clientes internacionales son de Alemania, el 10 por ciento son de Suiza y el 10 por ciento son del Reino Unido.

Perspectivas: el floreciente sector turístico está listo para fortalecer aún más el mercado inmobiliario

Además de su ubicación geográfica deseable y su alta calidad de vida, es la gran cantidad de nuevos proyectos de desarrollo lo que está poniendo a Athens Riviera nuevamente en el mapa como un punto de acceso internacional codiciado. La región va a ser cada vez más importante como mercado de primera y segunda vivienda debido al aumento de la demanda mundial. Engel & Völkers espera que los precios aumenten moderadamente durante el resto de 2022 y que el mercado experimente un crecimiento positivo en 2023, como confirma Georg Petras: “Se acerca un nuevo apogeo para la región, con un futuro emocionante por delante. La costa ateniense continuará jugar un papel más central para el sector turístico griego, y esto tendrá un impacto positivo en el mercado inmobiliario aquí a largo plazo”.
Asegúrese de incluir el aviso de derechos de autor cuando utilice cualquiera de las imágenes.

Leyendas: (Fuente de la imagen: Engel & Völkers Grecia)

Visionary new built in Vouliagmeni
Image Image Image

The Chrysalis es un complejo visionario de cuatro exclusivas residencias independientes en la ubicación privilegiada de Vouliagmeni. La residencia Chrysalis A1 está siendo comercializada por Engel & Völkers por aprox. 6,35 millones de euros. La arquitectura se asemeja a la forma de una mariposa, cuyas alas se extienden desde las viviendas hasta la zona ajardinada, proporcionando sombra en la planta baja y vistas al mar en la planta superior. Cada residencia cuenta con cinco dormitorios y cinco baños en una superficie habitable total de aprox. 500 metros cuadrados. Varias comodidades de lujo como áreas de bienestar y apartamentos para invitados completan la oferta.

Gate to the Aegean
Image Image Image

Esta villa está ubicada en una parcela única de 4.820 metros cuadrados, a solo un kilómetro de distancia del cabo Sounio y del mundialmente famoso Templo de Poseidón, que está catalogado como sitio arqueológico y patrimonial. La superficie habitable total se extiende sobre más de 430 metros cuadrados, con cuatro dormitorios, cinco baños y dos casas de huéspedes con baño completamente independientes. Lo más destacado de la propiedad es su vista panorámica sin obstáculos sobre el sur del Egeo. La residencia está a la venta con Engel & Völkers bajo pedido.

Two luxurious villas in walking distance to the beach
Image Image Image

Engel & Völkers comercializa estas dos villas modernas cerca del cabo Sounion en una parcela de 3.000 metros cuadrados por aprox. 4,4 millones de euros. Ambas villas están lujosamente equipadas y cada una ofrece cinco amplios dormitorios, cinco baños y una piscina privada. Debido a la proximidad directa al mar, se aseguran vistas panorámicas y puestas de sol desde cada terraza.

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Engel & Völkers | Athens Riviera: Beautiful living close to the city  centre

Engel & Völkers | Athens Riviera: Beautiful living close to the city  centre

  • Average prices per square metre of 7,000 euros
  • Appeal of the region is drawing increasing international demand
  • Europe’s largest urban development project on former airport site 

Hamburg, 20 October 2022. The southern edge of the Greek capital Athens, just a 20-minute drive south of the Acropolis, marks the start of the Athens Riviera – stretching almost 50 kilometres along the Saronic Gulf. This picturesque coastline, from the port of Piraeus to Cape Sounion, is famous for its award-winning beaches, rocky bays with crystal-clear waters and elegant, cosmopolitan, but at the same time laid-back flair. “The Athens Riviera is currently undergoing a remarkable renaissance. Vision meets tradition here, with an atmosphere reminiscent of Beverly Hills, only without so many tourists. Many hotspots along this coast are still considered insider tips, even among Athenians, with a great deal of potential to offer. The high pace of construction activity in recent months is reflective of the dynamic development the region is currently witnessing,” says Georg Petras, CEO of Engel & Völkers Greece.

Strong demand in all coastal locations

Facing southwest and enjoying around 300 days of sunshine a year, the entire length of this coastline is known for its sensational sunsets. This makes properties here in beachfront locations overlooking the Aegean Sea especially sought after. The size and diversity of the Athens Riviera ensure an above-average number of property listings and a broad price range, whereby prices are generally more moderate than in the rest of Europe, even in the very good locations. Average square metres range from 6,000 to 7,000 euros. The highest priced areas along the Riviera include Vouliagmeni, Voula and Glyfada. These elegant Athens suburbs are also known as the “Hellenic Hamptons”. They boast a range of shopping and nightlife options, from local shops and authentic tavernas through to designer boutiques, gourmet restaurants and cocktail bars, in addition to charming waterfront promenades and exclusive beach clubs. Increasing popularity on the international stage saw the average price per square metre for apartments rise to 7,000 euros in very good locations in H1 2022 (H1 2021: 5.000 euros). Top prices per square can range up to 10,000 euros. Contemporary villas with premium amenities directly on the coast reach average prices of 8,000 to 12,000 euros per square metre. Luxurious residences with exceptional flair and extra-special features can sell for as much as 6 million euros.
Rising prices mean that buyer interest is shifting further away from the centre of Athens, to average locations. “The distance from the city centre to the southernmost point of the Riviera, Cape Sounion, is, in fact, only around an hour’s drive. It is still possible here to find properties directly by the sea at very moderate prices. The abundant possibilities on offer, the convenient location, and potential for relaxation and recreation all make real estate in the more southern parts of the Athens Riviera a superb investment as well,” says Georg Petras. From the region around Lagonisi to Lavrio at the southernmost tip of the Riviera, prices for detached properties range from 600.000 to 700.000 euros. Apartments are priced at an average of approx. 4,000 euros per square metre.

New construction projects boost global appeal of Athenian coastline

Besides existing properties in classic locations, it is the various new construction and regeneration projects in the region that are the driving force behind the strong market dynamics and growing international interest in the Athens Riviera. A prime example of such a project is the new groundbreaking and visionary Hellinikon quarter. Currently the largest urban development in the whole of Europe, it is taking shape on the site of the former Ellinikon Airport, which has been defunct since 2001. The area spans some 620 hectares in total, and a host of dining and recreational amenities are set to take shape here from 2023 onwards, alongside residential and commercial units in a bioclimatic, hybrid architectural design. The new quarter will also boast a marina, as well as a public park spanning two million square metres, with approximately 50 kilometres of cycle paths and walking trails. “The creation of Hellinikon will open up a new chapter for Athens and Greece, and we expect international interest in the Athens Riviera to grow and the location to gain international importance,” Mr. Petras declares. The areas of Neo Faliro and Moschato, along with the port town of Piraeus, directly south of the centre of Athens on the coast, are also up-and-coming regions with particularly high potential for regeneration and new major construction projects. The average price for contemporary newly-built villas is 1 million euros, while existing properties sell for an average of 500.000 euros.

Domestic clients dominate real estate market – international buyer groups catching up

Due to its proximity to the centre of Athens and the international airport, the Riviera is a desirable place of residence among professionals working in the Greek capital, as well as frequent flyers, families and retirees looking to lead an active lifestyle. The property market is still dominated by domestic buyers, accounting for some 60 percent of activity. In the elegant area of Vouliagmeni this ratio is even up to 90 percent. Nonetheless, the region is fast evolving from a local insider’s tip into an internationally sought-after residential area and holiday destination, both in terms of primary residences and investments. The majority of buyer groups abroad come from Central Europe at approx. 40 percent. 20 percent of these international clients are from Germany, 10 percent are from Switzerland, and 10 percent are from the UK.

Outlook: Booming tourism sector set to strengthen real estate market further

In addition to its desirable geographical location and high quality of life, it is the large number of new development projects that are putting Athens Riviera on the map again as a sought-after international hotspot. The region is set to become increasingly important as a market for first and second homes due to the rise in global demand. Engel & Völkers expects prices to increase moderately for the remainder of 2022 and the market to see positive growth in 2023, as Georg Petras confirms: “A new heyday for the region is upon us, with an exciting future ahead. The Athenian coast will continue to play a more central role for the Greek tourism sector, and this will have a positive impact on the real estate market here in the long term.”
Please be sure to include the copyright notice when using any of the images.

Captions: (Image source: Engel & Völkers Greece)

Visionary new built in Vouliagmeni
Image Image ImageThe Chrysalis is a visionary complex of four exclusive independent residences in the prime location of Vouliagmeni. The Chrysalis A1 residence is being marketed by Engel & Völkers for approx. 6.35 million euros. The architecture resembles the shape of a butterfly, whose wings extend from the properties to the garden area, providing shade for the ground floor and sea views for the top floor. Each residency features five bedrooms and five bathrooms on a total living area of approx. 500 square metres. Several luxurious amenities like wellness areas and guest apartments complete the offer.

Gate to the Aegean
Image Image ImageThis villa is located on a unique 4,820 square metres plot, only one kilometre away from Cape Sounio and the world famous Poseidon Temple, which is listed as an archaeological and heritage site. The total living area spans over more than 430 square metres, featuring four bedrooms, five bathrooms as well as two completely independent en-suite guest houses. Highlight of the property is its unobstructed panoramic view over the South Aegean. The residence is for sale with Engel & Völkers upon request.

Two luxurious villas in walking distance to the beach
Image Image Image Engel & Völkers is marketing these two modern villas close to Cape Sounion on a 3,000 square metre plot for approx. 4.4 million euros. Both villas are luxuriously equipped, each offering five large bedrooms, five bathrooms as well as a private pool. Due to the direct proximity to the sea, panoramic vistas and sunsets from each terrace are ensured.

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Engel & Völkers | Athens Riviera: Beautiful living close to the city  centre

Engel & Völkers | Athens Riviera: Beautiful living close to the city  centre

  • Average prices per square metre of 7,000 euros
  • Appeal of the region is drawing increasing international demand
  • Europe’s largest urban development project on former airport site 

Hamburg, 20 October 2022. The southern edge of the Greek capital Athens, just a 20-minute drive south of the Acropolis, marks the start of the Athens Riviera – stretching almost 50 kilometres along the Saronic Gulf. This picturesque coastline, from the port of Piraeus to Cape Sounion, is famous for its award-winning beaches, rocky bays with crystal-clear waters and elegant, cosmopolitan, but at the same time laid-back flair. “The Athens Riviera is currently undergoing a remarkable renaissance. Vision meets tradition here, with an atmosphere reminiscent of Beverly Hills, only without so many tourists. Many hotspots along this coast are still considered insider tips, even among Athenians, with a great deal of potential to offer. The high pace of construction activity in recent months is reflective of the dynamic development the region is currently witnessing,” says Georg Petras, CEO of Engel & Völkers Greece.

Strong demand in all coastal locations

Facing southwest and enjoying around 300 days of sunshine a year, the entire length of this coastline is known for its sensational sunsets. This makes properties here in beachfront locations overlooking the Aegean Sea especially sought after. The size and diversity of the Athens Riviera ensure an above-average number of property listings and a broad price range, whereby prices are generally more moderate than in the rest of Europe, even in the very good locations. Average square metres range from 6,000 to 7,000 euros. The highest priced areas along the Riviera include Vouliagmeni, Voula and Glyfada. These elegant Athens suburbs are also known as the “Hellenic Hamptons”. They boast a range of shopping and nightlife options, from local shops and authentic tavernas through to designer boutiques, gourmet restaurants and cocktail bars, in addition to charming waterfront promenades and exclusive beach clubs. Increasing popularity on the international stage saw the average price per square metre for apartments rise to 7,000 euros in very good locations in H1 2022 (H1 2021: 5.000 euros). Top prices per square can range up to 10,000 euros. Contemporary villas with premium amenities directly on the coast reach average prices of 8,000 to 12,000 euros per square metre. Luxurious residences with exceptional flair and extra-special features can sell for as much as 6 million euros.
Rising prices mean that buyer interest is shifting further away from the centre of Athens, to average locations. “The distance from the city centre to the southernmost point of the Riviera, Cape Sounion, is, in fact, only around an hour’s drive. It is still possible here to find properties directly by the sea at very moderate prices. The abundant possibilities on offer, the convenient location, and potential for relaxation and recreation all make real estate in the more southern parts of the Athens Riviera a superb investment as well,” says Georg Petras. From the region around Lagonisi to Lavrio at the southernmost tip of the Riviera, prices for detached properties range from 600.000 to 700.000 euros. Apartments are priced at an average of approx. 4,000 euros per square metre.

New construction projects boost global appeal of Athenian coastline

Besides existing properties in classic locations, it is the various new construction and regeneration projects in the region that are the driving force behind the strong market dynamics and growing international interest in the Athens Riviera. A prime example of such a project is the new groundbreaking and visionary Hellinikon quarter. Currently the largest urban development in the whole of Europe, it is taking shape on the site of the former Ellinikon Airport, which has been defunct since 2001. The area spans some 620 hectares in total, and a host of dining and recreational amenities are set to take shape here from 2023 onwards, alongside residential and commercial units in a bioclimatic, hybrid architectural design. The new quarter will also boast a marina, as well as a public park spanning two million square metres, with approximately 50 kilometres of cycle paths and walking trails. “The creation of Hellinikon will open up a new chapter for Athens and Greece, and we expect international interest in the Athens Riviera to grow and the location to gain international importance,” Mr. Petras declares. The areas of Neo Faliro and Moschato, along with the port town of Piraeus, directly south of the centre of Athens on the coast, are also up-and-coming regions with particularly high potential for regeneration and new major construction projects. The average price for contemporary newly-built villas is 1 million euros, while existing properties sell for an average of 500.000 euros.

Domestic clients dominate real estate market – international buyer groups catching up

Due to its proximity to the centre of Athens and the international airport, the Riviera is a desirable place of residence among professionals working in the Greek capital, as well as frequent flyers, families and retirees looking to lead an active lifestyle. The property market is still dominated by domestic buyers, accounting for some 60 percent of activity. In the elegant area of Vouliagmeni this ratio is even up to 90 percent. Nonetheless, the region is fast evolving from a local insider’s tip into an internationally sought-after residential area and holiday destination, both in terms of primary residences and investments. The majority of buyer groups abroad come from Central Europe at approx. 40 percent. 20 percent of these international clients are from Germany, 10 percent are from Switzerland, and 10 percent are from the UK.

Outlook: Booming tourism sector set to strengthen real estate market further

In addition to its desirable geographical location and high quality of life, it is the large number of new development projects that are putting Athens Riviera on the map again as a sought-after international hotspot. The region is set to become increasingly important as a market for first and second homes due to the rise in global demand. Engel & Völkers expects prices to increase moderately for the remainder of 2022 and the market to see positive growth in 2023, as Georg Petras confirms: “A new heyday for the region is upon us, with an exciting future ahead. The Athenian coast will continue to play a more central role for the Greek tourism sector, and this will have a positive impact on the real estate market here in the long term.”
Please be sure to include the copyright notice when using any of the images.

Captions: (Image source: Engel & Völkers Greece)

Visionary new built in Vouliagmeni
Image Image ImageThe Chrysalis is a visionary complex of four exclusive independent residences in the prime location of Vouliagmeni. The Chrysalis A1 residence is being marketed by Engel & Völkers for approx. 6.35 million euros. The architecture resembles the shape of a butterfly, whose wings extend from the properties to the garden area, providing shade for the ground floor and sea views for the top floor. Each residency features five bedrooms and five bathrooms on a total living area of approx. 500 square metres. Several luxurious amenities like wellness areas and guest apartments complete the offer.

Gate to the Aegean
Image Image ImageThis villa is located on a unique 4,820 square metres plot, only one kilometre away from Cape Sounio and the world famous Poseidon Temple, which is listed as an archaeological and heritage site. The total living area spans over more than 430 square metres, featuring four bedrooms, five bathrooms as well as two completely independent en-suite guest houses. Highlight of the property is its unobstructed panoramic view over the South Aegean. The residence is for sale with Engel & Völkers upon request.

Two luxurious villas in walking distance to the beach
Image Image Image Engel & Völkers is marketing these two modern villas close to Cape Sounion on a 3,000 square metre plot for approx. 4.4 million euros. Both villas are luxuriously equipped, each offering five large bedrooms, five bathrooms as well as a private pool. Due to the direct proximity to the sea, panoramic vistas and sunsets from each terrace are ensured.

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Engel & Völkers | Athens Riviera: Beautiful living close to the city  centre

Engel & Völkers | Athens Riviera: Beautiful living close to the city  centre

  • Average prices per square metre of 7,000 euros
  • Appeal of the region is drawing increasing international demand
  • Europe’s largest urban development project on former airport site 

Hamburg, 20 October 2022. The southern edge of the Greek capital Athens, just a 20-minute drive south of the Acropolis, marks the start of the Athens Riviera – stretching almost 50 kilometres along the Saronic Gulf. This picturesque coastline, from the port of Piraeus to Cape Sounion, is famous for its award-winning beaches, rocky bays with crystal-clear waters and elegant, cosmopolitan, but at the same time laid-back flair. “The Athens Riviera is currently undergoing a remarkable renaissance. Vision meets tradition here, with an atmosphere reminiscent of Beverly Hills, only without so many tourists. Many hotspots along this coast are still considered insider tips, even among Athenians, with a great deal of potential to offer. The high pace of construction activity in recent months is reflective of the dynamic development the region is currently witnessing,” says Georg Petras, CEO of Engel & Völkers Greece.

Strong demand in all coastal locations

Facing southwest and enjoying around 300 days of sunshine a year, the entire length of this coastline is known for its sensational sunsets. This makes properties here in beachfront locations overlooking the Aegean Sea especially sought after. The size and diversity of the Athens Riviera ensure an above-average number of property listings and a broad price range, whereby prices are generally more moderate than in the rest of Europe, even in the very good locations. Average square metres range from 6,000 to 7,000 euros. The highest priced areas along the Riviera include Vouliagmeni, Voula and Glyfada. These elegant Athens suburbs are also known as the “Hellenic Hamptons”. They boast a range of shopping and nightlife options, from local shops and authentic tavernas through to designer boutiques, gourmet restaurants and cocktail bars, in addition to charming waterfront promenades and exclusive beach clubs. Increasing popularity on the international stage saw the average price per square metre for apartments rise to 7,000 euros in very good locations in H1 2022 (H1 2021: 5.000 euros). Top prices per square can range up to 10,000 euros. Contemporary villas with premium amenities directly on the coast reach average prices of 8,000 to 12,000 euros per square metre. Luxurious residences with exceptional flair and extra-special features can sell for as much as 6 million euros.
Rising prices mean that buyer interest is shifting further away from the centre of Athens, to average locations. “The distance from the city centre to the southernmost point of the Riviera, Cape Sounion, is, in fact, only around an hour’s drive. It is still possible here to find properties directly by the sea at very moderate prices. The abundant possibilities on offer, the convenient location, and potential for relaxation and recreation all make real estate in the more southern parts of the Athens Riviera a superb investment as well,” says Georg Petras. From the region around Lagonisi to Lavrio at the southernmost tip of the Riviera, prices for detached properties range from 600.000 to 700.000 euros. Apartments are priced at an average of approx. 4,000 euros per square metre.

New construction projects boost global appeal of Athenian coastline

Besides existing properties in classic locations, it is the various new construction and regeneration projects in the region that are the driving force behind the strong market dynamics and growing international interest in the Athens Riviera. A prime example of such a project is the new groundbreaking and visionary Hellinikon quarter. Currently the largest urban development in the whole of Europe, it is taking shape on the site of the former Ellinikon Airport, which has been defunct since 2001. The area spans some 620 hectares in total, and a host of dining and recreational amenities are set to take shape here from 2023 onwards, alongside residential and commercial units in a bioclimatic, hybrid architectural design. The new quarter will also boast a marina, as well as a public park spanning two million square metres, with approximately 50 kilometres of cycle paths and walking trails. “The creation of Hellinikon will open up a new chapter for Athens and Greece, and we expect international interest in the Athens Riviera to grow and the location to gain international importance,” Mr. Petras declares. The areas of Neo Faliro and Moschato, along with the port town of Piraeus, directly south of the centre of Athens on the coast, are also up-and-coming regions with particularly high potential for regeneration and new major construction projects. The average price for contemporary newly-built villas is 1 million euros, while existing properties sell for an average of 500.000 euros.

Domestic clients dominate real estate market – international buyer groups catching up

Due to its proximity to the centre of Athens and the international airport, the Riviera is a desirable place of residence among professionals working in the Greek capital, as well as frequent flyers, families and retirees looking to lead an active lifestyle. The property market is still dominated by domestic buyers, accounting for some 60 percent of activity. In the elegant area of Vouliagmeni this ratio is even up to 90 percent. Nonetheless, the region is fast evolving from a local insider’s tip into an internationally sought-after residential area and holiday destination, both in terms of primary residences and investments. The majority of buyer groups abroad come from Central Europe at approx. 40 percent. 20 percent of these international clients are from Germany, 10 percent are from Switzerland, and 10 percent are from the UK.

Outlook: Booming tourism sector set to strengthen real estate market further

In addition to its desirable geographical location and high quality of life, it is the large number of new development projects that are putting Athens Riviera on the map again as a sought-after international hotspot. The region is set to become increasingly important as a market for first and second homes due to the rise in global demand. Engel & Völkers expects prices to increase moderately for the remainder of 2022 and the market to see positive growth in 2023, as Georg Petras confirms: “A new heyday for the region is upon us, with an exciting future ahead. The Athenian coast will continue to play a more central role for the Greek tourism sector, and this will have a positive impact on the real estate market here in the long term.”
Please be sure to include the copyright notice when using any of the images.

Captions: (Image source: Engel & Völkers Greece)

Visionary new built in Vouliagmeni
Image Image ImageThe Chrysalis is a visionary complex of four exclusive independent residences in the prime location of Vouliagmeni. The Chrysalis A1 residence is being marketed by Engel & Völkers for approx. 6.35 million euros. The architecture resembles the shape of a butterfly, whose wings extend from the properties to the garden area, providing shade for the ground floor and sea views for the top floor. Each residency features five bedrooms and five bathrooms on a total living area of approx. 500 square metres. Several luxurious amenities like wellness areas and guest apartments complete the offer.

Gate to the Aegean
Image Image ImageThis villa is located on a unique 4,820 square metres plot, only one kilometre away from Cape Sounio and the world famous Poseidon Temple, which is listed as an archaeological and heritage site. The total living area spans over more than 430 square metres, featuring four bedrooms, five bathrooms as well as two completely independent en-suite guest houses. Highlight of the property is its unobstructed panoramic view over the South Aegean. The residence is for sale with Engel & Völkers upon request.

Two luxurious villas in walking distance to the beach
Image Image Image Engel & Völkers is marketing these two modern villas close to Cape Sounion on a 3,000 square metre plot for approx. 4.4 million euros. Both villas are luxuriously equipped, each offering five large bedrooms, five bathrooms as well as a private pool. Due to the direct proximity to the sea, panoramic vistas and sunsets from each terrace are ensured.

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