Cosmos Residence — A0195 Feasibility Report

M. Sami Akbeniz
2 days ago
5 min read

FEASIBILITY REPORT · PIRAEUS · ATTICA · GOLDEN VISA

This report assesses the investment feasibility of Cosmos Residence (A0195), located in Piraeus, the port city of the Attica region. The boutique five-unit building is constructed to energy class A, with a heat pump, smart home infrastructure and photovoltaic panels on a net-metering basis. Construction is at the finishing stage, with delivery planned for 2027.

All five units currently appear available, priced between €208,035 and €262,753. The unit-price band we calculate from the actual list prices is approximately €3,516–3,764 per m². The report covers location, pricing structure, rental potential and risks on a data-driven basis, and summarises the Golden Visa framework neutrally, on legislative grounds.

The assessment relies on the availability and price data in the developer feed at the time of writing. Unit-level confirmation is essential before any final decision; this report is a decision-support document, not a marketing text.

Location and Transport

The project sits in an established residential neighbourhood of Piraeus, identified here at district level. Piraeus is the main port city of the Athens metropolitan area; the harbour, the marina district and everyday amenities — schools, markets, cafés — are within walking distance or a short drive.

On the transport side, Metro Line 3 links Piraeus to central Athens and, with one change, to the airport; the coastal tram and suburban rail add connections along the Athens Riviera and across the wider metropolitan area. This multi-modal access is the main carrier of the location case, in both owner-occupier and rental scenarios.

Piraeus has been in a transformation cycle in recent years, driven by port investment and the completion of the metro link. While this broadens the tenant pool, the district remains heterogeneous street by street, and micro-location is decisive for valuation.

The Project and Units

Cosmos Residence is a boutique new-build of five apartments between 59 and 72 m²; four units are one-bedroom and one is a two-bedroom layout. The building is constructed to energy class A, with autonomous heat-pump heating and cooling, photovoltaic panels on a net-metering basis, a solar water heater, double glazing and highly insulated aluminium frames as standard.

Apartments include a smart home package, an armoured entrance door, alarm pre-installation, split-unit air conditioning and LED lighting. Construction is at the finishing stage; delivery is planned for 2027. The current unit list is set out below; availability may change at any time.

A1 — 1-bed, 59 m², floors 1/2: €208,035 (≈€3,526/m²)
A2 — 1-bed, 66 m², floors 1/2: €232,078 (≈€3,516/m²)
B1 — 2-bed, 72 m², floors 1/2: €262,753 (≈€3,649/m²)
C1 — 1-bed, 59 m², floors 3/4: €222,102 (≈€3,764/m²)
C2 — 1-bed, 66 m², floors 3/4: €247,672 (≈€3,753/m²)

Price Analysis

The unit-price band calculated from the actual list prices is €3,516–3,764 per m²; the weighted average across the five units is approximately €3,642 per m². Upper-floor units (3/4) carry a premium of roughly 6-7 percent over their lower-floor counterparts with the same layout.

We keep the district comparison conservative: for new-build, energy-class A projects in Piraeus, the general band we observe is roughly €2,800–3,800 per m², with resale and older stock trading well below this. Cosmos Residence sits in the upper half of that new-build band, close to its upper quartile.

To be direct: on the 59 m² units in particular, a unit price exceeding €3,750 per m² is, on our estimated band, clearly above the district average. This is a structure commonly seen in small units — a low total entry price paired with a high per-square-metre cost — and there is no guarantee that this premium will be recovered on resale. The case for the price rests on location, energy standard and boutique scale; a buyer should proceed aware of this premium.

Rental Potential

We model rental yield in a conservative band of 3-5 percent gross; our base scenario is around 3.5-4 percent. As an illustration, on the €208,035, 59 m² unit A1, a 3 percent gross yield corresponds to roughly €520 per month and 5 percent to roughly €865; given current one-bedroom rent levels in Piraeus, the lower-middle part of the band is the more realistic anchor.

The tenant pool is fed by port-economy employees, young professionals and the university community; the metro link also makes the units lettable to people working in central Athens. Energy class A and the photovoltaic infrastructure are a tangible differentiator, supporting lettability through low running costs.

Two caveats apply: the yield figures are modelling, not a guarantee, and since delivery is planned for 2027, rental income begins only after handover. A short-let scenario would additionally require confirmation of current licensing and tax rules.

Golden Visa Framework

Under the Greek Golden Visa programme, the investment threshold is set by region and by the route chosen. Under current legislation, the standard residential-purchase route in the Attica region is subject to the €800,000 threshold. The €250,000 level is not a location-based threshold; it applies only to properties converted from commercial to residential use, or to the restoration of listed (protected) buildings.

The price band in this project (€208,035–262,753) does not by itself imply Golden Visa eligibility. Whether any given unit can qualify depends on the route pursued, the property's prior-use and title file, and unit-level confirmation against current legislation. No reservation should proceed on a GV assumption before this file confirmation is completed.

Legislation can change; thresholds and route conditions have been revised before and may be revised again. This section is informational and does not constitute legal advice.

Risks and Points of Attention

The items below are real risks that should be weighed deliberately before a decision. None may be disqualifying on its own; they should, however, be assessed together.

Data confirmation: Availability and pricing come from the developer feed; the list can change at any time and up-to-date confirmation is required for each unit.
Delivery/construction risk: Although construction is at the finishing stage, the delivery target is 2027; the possibility of delay, and the fact that rental income depends on handover, should be built into the cash-flow plan.
Small-unit price premium: On the 59 m² units, the unit price is clearly above the district average on our estimated band; there is a risk of this premium eroding on resale.
Resale liquidity: The buyer pool in Piraeus is predominantly local; exit timelines can be longer than in central Athens districts.
Golden Visa regulatory risk: Thresholds and route conditions may change; no transaction should proceed on a GV assumption without unit-level file confirmation.
Micro-location: Piraeus is heterogeneous street by street; valuation should not be generalised without a site visit or an up-to-date area review.

Conclusion

Cosmos Residence is an energy-efficient, boutique-scale Piraeus project with delivery on a visible horizon. Its strengths are the energy-class A specification, the metro-connected location and an accessible total entry price starting at €208,035. Against this, the unit-price band (€3,516–3,764/m²) sits in the upper half of the district's new-build segment and carries a clear per-square-metre premium, particularly on the smaller units.

The suitable investor profile is a buyer with a limited total budget, focused on rental income, able to wait for the 2027 delivery, and consciously accepting the price premium as part of the location-quality equation. For those interested in the Golden Visa, route and unit-level file confirmation is a precondition; no decision should be made on a GV assumption before confirmation is complete. Contact our team for current availability and the up-to-date price list.