Ilissos Residence — A0200 Feasibility Report

M. Sami Akbeniz
2 days ago
5 min read

FEASIBILITY REPORT · MOSCHATO · SOUTH ATHENS · GOLDEN VISA

This report assesses the investment feasibility of Ilissos Residence (A0200) in the Moschato district of the Athens urban corridor within a data-driven framework. The project is a boutique new build of four 2-bedroom apartments delivered to Energy Class A+ standards; the listed price band runs from €345,321 to €412,371.

Moschato stands out for its in-between position, bridging central Athens and the port of Piraeus. The train station is within walking distance, the national highway connection sits very close to the building, and the Athenian Riviera is roughly 11 minutes by car. This connectivity profile makes the district functional for both end-user and tenant demand.

The report covers unit price analysis, conservative rental modelling, the Golden Visa framework and the main risk items. Price and availability data are listing-sourced and subject to developer confirmation; this is a decision-support document, not a marketing text.

Location and Transport

The project sits in the Moschato district, on the urban corridor between central Athens and the port of Piraeus. Assessed at district level, its strongest asset is connection density: the train station is about 630 m away (a 6-minute walk), the nearest bus stop 150 m, and the national highway link roughly 650 m.

By car, Piraeus Port is 3 km (13 min), the Athenian Riviera 2.6 km (11 min), the Acropolis 5 km (20 min) and Syntagma Square 5.8 km (19 min); the airport is about 50 minutes away. Daily amenities — a primary school, high school, supermarket, pharmacy, gym and cultural centre — lie within a few minutes' walk.

This profile makes Moschato a practical residential district both for those working in the city centre and for users of the port and Riviera axis. Location information in this report is given at district level; parcel-level detail is shared on request during the process.

Project and Units

Ilissos Residence is a boutique-scale new build comprising four 2-bedroom apartments in total. Unit sizes range from 74 to 81 m²; A1 (76 m²), A2 (74 m²) and A3 (79 m²) sit on the 1st floor and E2 (81 m²) on the 5th. All units have two bedrooms and one bathroom.

The building is designed to Energy Class A+: photovoltaic panels with net metering, autonomous heat-pump heating and cooling, split air-conditioning units, a solar water heater and smart-home infrastructure come as standard. Armoured entrance doors, highly insulated aluminium frames, double glazing, large facade openings and alarm pre-installation complete the specification.

Construction is at the finishing stage, with delivery planned for 2027. All four units appear available in the listing data; however, this is a snapshot of inventory and requires confirmation before reservation.

Price Analysis

Unit prices calculated from the listing are as follows: A2 €345,321 / 74 m² → €4,667/m²; A3 €369,416 / 79 m² → €4,676/m²; A1 €359,107 / 76 m² → €4,725/m²; E2 €412,371 / 81 m² → €5,091/m². The project's unit-price band is roughly €4,650–5,100/m², with a weighted average around €4,800/m².

Our conservative district comparison is this: across Moschato we estimate the resale listing band at roughly €2,500–3,500/m², and new, high-energy-class projects at around €3,500–4,500/m². These are estimate bands based on listing scans, not definitive data.

Within this frame we should be explicit: the project's €4,650–5,100/m² band sits clearly above even our estimated new-build band for the district. Energy Class A+, boutique scale and a brand-new 2027 product explain a certain premium; but in E2 in particular, priced at €5,091/m², the top-floor premium is fully priced into the band. We consider it important that buyers commission an up-to-date, unit-level comparable analysis before deciding.

Rental Potential

We conservatively model the monthly rent assumption for a new-build 2-bedroom apartment in Moschato at €950–1,250. On that basis, gross yield for A2 (€345,321) comes to roughly 3.3–4.0%; for E2 (€412,371), assuming rent of €1,100–1,300, roughly 3.2–3.8%.

Across the project, modelling gross rental yield in a 3–4% band is realistic; net yield falls below that once service charges, insurance, tax, vacancy and management costs are deducted. The high unit purchase price is the main factor mechanically compressing the yield rate.

These figures are modelling assumptions; no rental guarantee is implied. Walking distance to the train station and the low running costs of an A+ energy class are genuine advantages that may shorten letting times; still, yield projections should be verified against current rental comparables before any contract.

Golden Visa Framework

Under the Greece Golden Visa programme, the applicable investment threshold is determined by the zone the property sits in and by the application route chosen; no generalisation can be made from a single fixed figure. The frequently misunderstood €250,000 level is not a location-based threshold: under current legislation it applies only where a non-residential property is converted to residential use, or where a listed building is restored.

For this reason, in this project — as in all projects — Golden Visa suitability is assessed per unit: the route, the zone threshold and the supporting file are confirmed separately for each apartment. No project carries an upfront "Golden Visa guaranteed" commitment; such a claim would be incompatible with this report's approach.

For buyers proceeding with a Golden Visa objective, the correct sequence is: first, the target unit's route and threshold position are confirmed through the legal file; only then does the reservation step follow. Our team runs this confirmation as standard procedure before reservation.

Risks and Points of Attention

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

Data confirmation: Price and availability information is listing-sourced; the current status and price of all four units require developer confirmation before reservation.
Delivery risk: Although construction is at the finishing stage, delivery is 2027; the possibility of schedule slippage should always be factored into new-build projects.
Unit-price premium: The €4,650–5,100/m² band sits clearly above our estimated new-build band for the district; recovering this premium at resale is not guaranteed and deserves careful weighing, particularly for E2, the highest-priced unit per square metre.
Resale liquidity: Demand in Moschato is predominantly local; apartments priced above the district average may face longer selling periods.
Layout constraint: All units pair a 2-bedroom layout with a single bathroom, which may narrow preference in some tenant and buyer segments.
Golden Visa: The threshold depends on route and zone; no decision should be made on a Golden Visa assumption before the unit-level legal file confirmation is complete.

Conclusion

Ilissos Residence is a strong file on location and product quality: Moschato's connected position within walking distance of the train station, Energy Class A+ and a boutique-scale brand-new product are genuine advantages in both owner-occupancy and rental scenarios. The four-unit inventory is manageable and transparent in structure.

Pricing, by contrast, is the report's most critical assessment area. The roughly €4,650–5,100/m² band sits clearly above our district estimate bands and compresses gross rental yield to a 3–4% range in a conservative model. The project makes sense for a long-term-minded buyer who knowingly accepts the unit-price premium; it should not be approached with short-term capital-gain expectations.

Our recommendation is clear: no binding step should be taken before current availability and price confirmation for the unit of interest, a unit-level comparable analysis and — where a Golden Visa objective exists — route and threshold confirmation are complete. Once these three confirmations are in place, the file can be decided soundly on the basis of data.