MINOAS Athens | A0130 Feasibility Report

M. Sami Akbeniz
15 hours ago
3 min read

ATHENS CITY CENTER (SINOPIS 27) · ATHENS · GREECE GOLDEN VISA PROGRAM

MINOAS Athens

The MINOAS Athens project — an in-situ conversion in central Athens — falls under the αλλαγή χρήσης €250,000 lower-threshold exemption. Price range €250-340K (old list) / €260-360K (after 1.10.25). Several units in the €250-280K band are GV-compliant.

Quick Overview

Entry price:€250,000 – €360,000 · apartments 45-110 m² (total)
Unit types:1+1 (24 units), penthouse (ST2 110 m²)
Inventory:26 units
Rental guarantee:No guarantee stated in the brochure — premium location, strong rental demand
Golden Visa:5-year renewable residence permit + Schengen free movement
Energy:Bioclimatic facade + high standard (class not specified)

01Executive Summary & Area Analysis

MINOAS is located right in the heart of Athens — 7 minutes from Syntagma Square, 9 minutes from Lycabettus Hill, 10 minutes from the Akropolis. The 'THE ILISIAN' project, a €340 million investment redeveloping the Hilton, is reachable in 2 minutes, Athens Tower in 2 minutes, and the catchment area of the renovated Faliro Bay and the Hellinikon mega-project in 15-19 minutes. The Athens Medical & Dental Faculty is 3 minutes away, the AUEB and NTUA campuses 6 minutes away — with an academic + medical + diplomatic (parliament, prime minister's office, presidency) rental base, it is one of the strongest central locations.

Accessibility Index

DESTINATION	TRANSPORT	TIME
Athens Tower (at the door)	On foot	2 min
Athens Medical Faculty	On foot	3 min
Athens Dentistry Faculty	On foot	3 min
Athens Medical Faculty University Campus	On foot	6 min
Athens University of Economics & Business	On foot	6 min
Lycabettus Hill	On foot	9 min
Syntagma Square & Greek Parliament	On foot/Metro	7 min
Akropolis	On foot/Metro	10 min
The Mall Athens (Marousi)	By car	14 min
Stavros Niarchos Cultural Center (SNFCC)	By car	15 min

02Legal Framework & Project Description

Law No. 5100/2024 — αλλαγή χρήσης Scope

An in-situ conversion in central Athens — under the αλλαγή χρήσης €250,000 lower-threshold exemption. Price range €250-340K (old list) / €260-360K (after 1.10.25). Several units in the €250-280K band are GV-compliant.

Project Highlights

Central Athens, Sinopis 27 — 7 min to Syntagma
26-apartment boutique residence (predominantly 1+1, 1 penthouse)
Bioclimatic facade + double-glazed aluminium panels
High-standard elevator + advanced security system
Cooling/heating independent heat pump
Premium interior design — eco-friendly paints, European-standard tiles
Akropolis 10 min + Lycabettus 9 min + Syntagma 7 min on foot

03Risk Analysis, SWOT & Conclusion

STRENGTHS (S)

• Most prestigious axis of central Athens — 7 min to Syntagma • Medical/Dental Faculty + AUEB + NTUA academic demand • THE ILISIAN (€340M Hilton conversion) neighbouring effect • Hellinikon mega-project catchment area (19 min) • strong developer signature • 26-apartment boutique — scarce supply • under the αλλαγή χρήσης €250K exemption • 26 units — various price points

WEAKNESSES (W)

• Energy class not clearly stated in the brochure • Delivery date not clear in the brochure • Parking constraint in central Athens (existing building) • Price-increase tier after 1.10.25 (upper band volatile) • Penthouse (ST2) above the GV threshold

OPPORTUNITIES (O)

• Central Athens annual value growth of 5.5%+ • THE ILISIAN opening (2025+) as a catalyst for surrounding premiums • Hellinikon mega-project capital value growth • Schengen + 7-year path to citizenship • Family coverage (spouse + children + parents) advantage • Academic & medical tourism + diplomatic rentals • Central-location prestige for the Turkish investor

THREATS (T)

• The GV threshold may rise in the future (acquired rights are protected) • EUR/TRY exchange-rate volatility • Strict Airbnb regulation in central Athens • Risk of surprise infrastructure costs in an old building • Potential for a European macro shock

CONCLUSION & INVESTMENT DECISION

Investment decision:POSITIVE Premium

MINOAS Athens is a signature premium conversion project located right in the heart of Athens — at the Sinopis 27 address, within a 7-minute walk of Syntagma, 10 minutes of the Akropolis, and 9 minutes of Lycabettus. Under the αλλαγή χρήσης €250K exemption, its 26-apartment boutique inventory provides access to an academic (Medical/Dental Faculty, AUEB, NTUA), medical-tourism and diplomatic (Parliament, Prime Minister's Office) rental base. As a 2-minute neighbour of the €340M THE ILISIAN (former Hilton) project, it is exposed to a catalyst for surrounding value premiums; the Hellinikon mega-project catchment area is within 19 min. The bioclimatic facade + premium interior design + advanced security system create a defensive-growth balanced position for upper-mid-segment rental and capital value growth.