Agios Nikolaos New 2-Bedroom Apartment — A0184 Feasibility Report

M. Sami Akbeniz
Aug 28
4 min read

FEASIBILITY REPORT · AGIOS NIKOLAOS · ATHENS

This report assesses the investment feasibility of listing A0184 — a 76 m² two-bedroom (2+1) apartment on the 3rd floor of a building completed in 2026, located in Agios Nikolaos in central Athens. The asking price is EUR 195,067 and the apartment is ready for delivery.

The assessment covers location and transport infrastructure, unit characteristics, price-per-square-metre analysis, rental yield modelling under conservative assumptions, and a dedicated risk section. The aim is a pre-decision due-diligence document rather than marketing copy; all figures remain subject to developer confirmation.

As this is a single-unit listing, the report works from the data of this specific apartment rather than a project-wide inventory. District comparisons are conservative band estimates intended as orientation, not a formal valuation.

Location and Transport

Agios Nikolaos is an established residential district on the northern edge of central Athens, within the wider Patisia area. It takes its name from the metro station at the centre of its daily life and offers a walkable urban fabric of bakeries, local markets, schools and squares.

On the transport side, the district's backbone is the historic Line 1 (ISAP) metro corridor, providing direct connections to Omonia, Monastiraki and the port of Piraeus. With short access times to the city centre, the district works as a practical central-Athens address for both owner-occupiers and tenants.

Location information in this report is given at district level; precise plot position and immediate surroundings should be assessed on a viewing or through the file shared on request.

Project and Unit

The listing covers a single apartment on the 3rd floor of a new building completed in 2026. Unit C4 is a 76 m² two-bedroom (2+1) comprising two bedrooms, a living/kitchen area and one bathroom.

According to the feed data the construction stage is marked "ready" and the apartment is available for delivery. As a new build it carries the first-ownership advantage; common-area handover status and occupancy/certification documents should be verified through the file.

The feed lists no building amenities (parking, storage, lift, etc.) and no energy class. As these items directly affect both pricing and rentability, they should be clarified from the developer file before a decision.

Unit: C4 · 3rd floor · 2+1 · 76 sqm · 1 bathroom
Price: EUR 195,067 (subject to developer confirmation)
Construction status: completed 2026, ready for delivery
Energy class: not stated in the feed — file confirmation required
Amenities: none recorded in the feed — to be verified

Price Analysis

With an asking price of EUR 195,067 over 76 m², the unit price works out at approximately EUR 2,567/sqm. As a single-unit listing this is a single data point rather than a price band.

By our conservative estimate, the older housing stock that dominates the Agios Nikolaos / Patisia market typically trades in a band of roughly EUR 1,300–1,900/sqm, while our band for new or fully renovated stock is approximately EUR 2,100–2,700/sqm. Within this frame, A0184's unit price sits in the upper half of the new-build band and is clearly above the district's overall average, which is weighted by older stock.

The premium is partly explained by new construction, delivery readiness and the 3rd-floor position; nevertheless, the buyer should be aware of paying a unit price above the district average. Full recovery of this premium on resale is not guaranteed; our comparison figures are conservative band estimates, not a formal valuation.

Rental Potential

Thanks to metro access and its central position, Agios Nikolaos sees steady long-term tenant demand. For a 76 m² two-bedroom, a conservative monthly rent band of EUR 600–800 can be modelled, corresponding to EUR 7,200–9,600 gross per year.

Against the asking price, our gross yield estimate is approximately 3.7–4.9%, within our conservative 3–5% frame. Net yield will be lower once service charges, insurance, taxes, vacancy periods and management costs are deducted.

These figures are model assumptions; no rental guarantee is implied. Realised rent may fall below or above the band depending on the unit's fit-out, energy performance and letting strategy (long-term versus periodic).

Risks and Points of Attention

No property investment is risk-free; the items below should be weighed before any decision. In single-unit listings availability can change quickly; price and status must be confirmed from the developer file at the time of transaction.

A note on residence-permit programmes: investment thresholds are not location-based, and the EUR 250,000 threshold applies only in specific categories such as change-of-use conversions or restorations of listed buildings. This listing price on its own implies no programme eligibility; eligibility requires file-level confirmation on both the route and the specific unit.

Availability risk: single unit — the listing closes on sale; data requires confirmation
Unit-price premium: EUR 2,567/sqm, clearly above a district average weighted by older stock; full recovery on resale is not guaranteed
Resale liquidity: the buyer pool is largely local and price-sensitive; time-to-sell may extend
Documentation gaps: energy class and amenities missing from the feed — file confirmation essential
Delivery risk is low (building ready), but common areas and occupancy documents should be checked
Compact single-bathroom layout: appeals to couples/small households rather than family tenants

Conclusion

A0184 is a credible option for buyers working with a sub-EUR 200,000 budget who want a ready-for-delivery new build in an established, metro-connected district of central Athens. The location-transport equation is strong, tenant demand is steady and delivery risk is low.

Against this, the unit price sits clearly above the district's older-stock-weighted average, and the investment case rests largely on the new-build premium and a stable rental stream. A medium-to-long-term hold strategy focused on rental income and central location is more realistic than short-term appreciation expectations.

Before deciding, the energy class, amenities, common-area status and current availability should be confirmed from the developer file, and the rental model should also be stress-tested at the lower bound of the conservative band. This report is for information purposes and does not replace independent legal and technical due diligence.