Avenue Residence — A0193 Feasibility Report

M. Sami Akbeniz
2 days ago
4 min read

FEASIBILITY REPORT · GERAKAS · EAST ATTICA · GOLDEN VISA

This report offers a data-driven assessment of the investment strengths and weaknesses of Avenue Residence (A0193) in Gerakas, East Attica. Its purpose is not marketing; it is a decision-support document that lays out price, rental potential and risks as they are.

The project is a completed (2026), ready-for-delivery low-rise development comprising three 3-bedroom apartments. Units range from 120 to 157 m², with list prices between EUR 419,000 and EUR 499,000; the building is energy class A and carries current technical specifications such as a heat pump, photovoltaic panels and smart home infrastructure.

Our assessment is based on the feed data and the published listing content; availability and pricing are subject to developer confirmation. In line with our principles, location is described at neighbourhood level only.

Location and Access

Gerakas is a residential suburb on the eastern side of Athens, known for light traffic, generous greenery and an established neighbourhood fabric. Daily life gathers around the main square, and access to central Athens is straightforward by East Attica standards.

The immediate surroundings are strong for everyday life: a park at roughly 350 m, the junior high school at 270 m, the primary school at 500 m, a pharmacy at 450 m, a bank at 350 m and the town hall at 650 m, with supermarkets and a gym within 1–1.3 km. This fabric makes the project particularly suited to the family profile.

Location is assessed at neighbourhood level; exact positions and street details are not disclosed under our policy.

Project and Units

Avenue Residence is a low-rise project with a minimalist architectural language: earth-toned facades, large glazed openings and premium interior finishes. Per the feed data, construction is complete (2026) and the units are ready for delivery.

Three units are listed as available, all with a 3-bedroom, 2-bathroom layout. The building is energy class A: autonomous heating-cooling via heat pump, net-metering photovoltaics, a solar water heater, highly insulated aluminium frames, smart home infrastructure, an armoured door and alarm pre-installation are standard.

K3A-B1 — 120 m², 3-bed, EUR 419,000 (~EUR 3,490/m²)
K1-B1 — 123 m², 3-bed, EUR 439,000 (~EUR 3,570/m²)
K3B-A1 — 157 m², 3-bed, EUR 499,000 (~EUR 3,180/m²)

Price Analysis

The unit-price band calculated from actual feed prices is roughly EUR 3,180–3,570/m²; the weighted average across the three units is around EUR 3,390/m². The largest unit (157 m²) carries the lowest unit price, while the smaller units are priced higher per square metre.

Our conservative estimate places the Gerakas resale average at EUR 2,400–2,900/m², with class-A new build in a EUR 3,000–3,500/m² band. Against that, the project's band sits clearly above the district average and at the upper edge of the new-build band; the pricing above ~EUR 3,500/m² on the 120–123 m² units warrants particular attention.

This premium is partly explained by ready-for-delivery status, energy class A and the technical specification. Even so, buyers should be cautious in assuming the premium is fully recoverable at resale; this report is a document of trust and we record that gap openly.

Rental Potential

The natural tenant for the 3-bedroom segment in Gerakas is the family household; this segment offers longer tenancies but lower unit yields than small central apartments. On our conservative band, long-term monthly rent expectation for units of this size is EUR 1,250–1,700.

On these assumptions, gross rental yield should be modelled in the 3–4% band; even optimistically, expecting above 4.5% at this price level does not look realistic. The feed contains no rental guarantee, and this report makes no guaranteed-return claim.

Transfer costs, property taxes and management expenses must be deducted from the gross rate; net yield typically lands well below gross.

Golden Visa Framework

The qualifying Golden Visa investment threshold is determined by the zone in which the property sits and by the route chosen, and must be confirmed separately for each unit. The EUR 250,000 threshold is not location-based; under current law it applies only where a non-residential property is converted to residential use, or where a listed building is restored.

The fact that prices here fall in the EUR 419,000–499,000 range does not by itself mean Golden Visa eligibility; higher thresholds apply on the standard acquisition route in Attica. No unit should be assumed eligible before route- and unit-level file confirmation.

A claim of the form "this project is Golden Visa guaranteed" is deliberately absent from this report. The applicable route, threshold and supporting file are verified for each unit before reservation.

Risks and Points of Attention

No real-estate investment is risk-free; this section gathers the items that must be weighed openly before a decision. The points below belong on the table during negotiation and file verification.

General note: feed data (availability, prices, floor details) may not be real-time; every item should be confirmed in writing by the developer before contract.

Availability and pricing data require confirmation; with a stock of only three units, even a single sale changes the picture.
The unit-price band (EUR 3,180–3,570/m²) sits clearly above the district average; the per-m² premium on the 120–123 m² units in particular raises resale-value risk.
Resale liquidity: the buyer pool for 3-bedroom units above EUR 400,000 in Gerakas is relatively narrow; exit periods may be long.
Golden Visa eligibility must not be assumed without unit- and route-level file confirmation; a price above the threshold is not sufficient on its own.
Single-typology risk: all three units are 3-bedroom; demand depends on one segment (families).
Although construction shows as complete (2026), delivery terms, occupancy permits and common-area status should be separately verified at contract stage.

Conclusion

Avenue Residence is a quality product within Gerakas's calm, family-oriented fabric, backed by ready-for-delivery status, energy class A and a strong technical specification. The surrounding school-park-square network supports both owner-occupation and long-term rental scenarios.

Pricing, however, is ambitious: the unit-price band sits clearly above the district average, and return expectations should be capped at a 3–4% gross band. For buyers approaching with a Golden Visa objective, eligibility becomes clear only through unit-level file confirmation.

Our view: the project suits buyers targeting owner-occupation or a long-term family tenant who knowingly accept the price premium. For investors seeking short-term appreciation or high yield, we recommend comparing alternatives within the same budget.