Modus Residence — A0203 Feasibility Report

M. Sami Akbeniz
2 days ago
5 min read

FEASIBILITY REPORT · GLYFADA · SOUTH ATHENS · GOLDEN VISA

This report presents an investment assessment of Modus Residence (code A0203), a boutique development in Glyfada on Athens' southern coastline. The project consists of two ready-for-delivery (2026) 2-bedroom apartments of 88 m² each, with list prices between €490,000 and €520,000.

Glyfada is one of the most established districts of the Athenian Riviera; its proximity to the beach, the golf course and The Ellinikon — Europe's largest urban regeneration project — makes it one of Attica's highest-demand residential corridors. This location profile also means pricing runs above the district-wide average.

The sections below cover location and access data, unit structure, price-per-square-metre analysis, conservative rental modelling, the Golden Visa framework and risk items with a data-driven approach. This report is a decision-support document, not a marketing text; all figures are subject to confirmation against the developer's file before any purchase.

Location and Access

The project sits within a calm, established residential fabric of Glyfada; location information in this report is given at district level. Daily-life infrastructure is within walking distance: a bus stop is roughly 200 m away, a gym 160 m, supermarket and pharmacy within about 900 m, and a primary school approximately 470 m from the building.

The key drivers of the district's investment thesis are all nearby: Glyfada Golf is about 1.5 km, Glyfada Beach 2.3 km, and The Ellinikon regeneration zone approximately 1.9 km away. A rail station roughly 1.9 km away provides a coastal-line connection towards the centre.

City-scale access is balanced: central Athens (Syntagma) is about 10 km, Piraeus Port 12.8 km and Athens International Airport 17.5 km. This access set supports both owner-occupation and long-term rental scenarios.

Project and Units

Modus Residence is a boutique-scale contemporary new build comprising two apartments. The project file declares building energy class A+; standard equipment includes a heat pump for autonomous heating and cooling, a photovoltaic system with net metering, a solar water heater, smart-home infrastructure, energy-efficient double-glazed frames and an armoured entrance door.

Both listed units are 88 m² with 2 bedrooms and 2 bathrooms. The building is a 2026 construction and is marked ready for delivery in the feed data, meaning occupation or rental can start without a construction timeline. Parking and storage solutions appear in the project file; the exact scope per unit should be clarified before purchase.

A1 — 88 m², 2-bed, 2-bath — €490,000 (available)
B2 — 88 m², 2-bed, 2-bath — €520,000 (available)
Energy class: A+ (declared; certificate verification recommended) · Built: 2026 · Status: ready for delivery

Price Analysis

Unit prices calculated from the actual feed figures are as follows: A1 at €490,000 / 88 m² ≈ €5,570/m², and B2 at €520,000 / 88 m² ≈ €5,910/m². The project's price band should be read as roughly €5,550–5,900/m².

Our conservative district benchmark is this: resale-weighted asking prices across Glyfada broadly range around €4,000–5,500/m², with a premium above that observed for A/A+ energy-class new builds. Within this frame, the Modus Residence band sits clearly above the district-wide average, in the mid-to-upper tier of the new-build segment.

Part of this premium can be explained by new-build quality, energy performance and ready delivery; however, the buyer should clearly understand that the entry price is at a high point relative to the district average. Entering at a high unit price carries the risk that part of the medium-term appreciation is already priced in today; negotiation and unit-level comparables are particularly important for this project.

Rental Potential

Our long-term rent estimate band for a new-build 2-bedroom of the 88 m² class in Glyfada is €1,400–1,700 per month in a conservative scenario. On this band, gross rental yield models at roughly 3.4–4.2% for A1 and roughly 3.2–3.9% for B2.

We recommend basing the investment decision on a 3–4% gross yield band; scenarios approaching 5% should only be considered under furnished or short-let operating models, which carry additional costs and require regulatory confirmation. These figures are estimates; no rent level or yield is guaranteed.

Net yield calculations should deduct communal charges, insurance, ENFIA property tax, management and a vacancy allowance; these items typically reduce gross yield by 0.5–1.0 points. A higher purchase price naturally lowers the yield ratio at the same rent level compared with an investor buying at the district average.

Golden Visa Framework

In Greece's Golden Visa programme, the investment threshold follows a tiered structure that varies by location and by the route chosen; in high-demand zones such as Attica, the standard route sits in the programme's highest tier. The €250,000 threshold is not a location-based advantage: under current legislation it applies only where a non-residential property is converted to residential use, or where a listed building is restored.

The unit prices in this project (€490,000–520,000) fall below the standard Attica route threshold on a single-unit basis; therefore, for a buyer targeting the Golden Visa, the applicable route must be separately confirmed at unit and file level. No project can be described as "Golden Visa guaranteed"; eligibility is verified before reservation through legal review and the official file.

At Avla, we treat route determination, title and planning file checks and threshold confirmation as preconditions of the purchase process for every unit. We recommend that Golden Visa-motivated buyers complete this verification step before committing.

Risks and Points of Attention

Availability and data verification: The current status and prices of the two listed units are subject to developer confirmation; in boutique projects, stock can change quickly. There are also minor inconsistencies between sources on fields such as floor information and the declared energy class (A/A+); these should be clarified against documents before reservation.

Price premium and liquidity: The unit price band sits clearly above the district average. An asset bought at a high price point faces a narrower buyer pool on resale; in an early-exit scenario, liquidity time may lengthen and negotiation discounts may widen.

Scale and operation: In a two-unit building the communal cost base is narrow; maintenance and management costs can be relatively high per unit. If short-let operation is being considered, regulation in this area in Greece is on a tightening path and the current rules must be confirmed.

Delivery and paperwork: Although the project is marked ready for delivery, occupancy and energy certificates, parking-storage allocations and the title file should be reviewed by a lawyer before purchase. For Golden Visa-targeted purchases, route confirmation (see the section above) is a separate and mandatory step.

Conclusion

Modus Residence is a ready-for-delivery, high energy-performance, boutique-scale product in a district with proven demand. Location quality, proximity to The Ellinikon and the new-build standard are the project's strengths; on the other hand, the roughly €5,550–5,900/m² band means entry is made at a premium over the district average.

In profile, the project suits a buyer seeking a quality, ready asset on the Athenian Riviera — one who accepts a gross rental yield in the 3–4% band and thinks medium-to-long term — rather than an investor maximising short-term yield. If a Golden Visa is the goal, no decision should be made before route and threshold confirmation is complete.

Our summary assessment: location and product quality are strong, pricing is ambitious. For buyers who wish to proceed, the next steps are confirming unit availability, negotiating the unit price and completing the legal file review.