New-Build Studio Keratsini — A0213 Feasibility Report

M. Sami Akbeniz
2 days ago
5 min read

FEASIBILITY REPORT · KERATSINI · PIRAEUS

This report is a data-driven feasibility assessment of listing A0213 in Keratsini, on the western side of Piraeus. The listing comprises a single available unit: a newly built 34 sqm studio (1+0) in a building completed in 2026 and ready for delivery. The asking price is EUR 132,223, corresponding to a unit price of roughly EUR 3,890 per sqm.

Our assessment proceeds along four main axes: location and transport infrastructure, how the unit price sits against the district band, a conservative rental yield model, and the risks that must be verified before purchase. This is a decision-support document rather than a marketing text; it states pricing and liquidity risks as openly as it states strengths.

All figures are drawn from the current listing source data. Availability, floor information, the energy class and the final price remain subject to file-level confirmation before any transaction.

Location and Transport

Keratsini is an established residential district on the western side of Piraeus, within the wider Athens urban area. Everyday amenities — markets, schools, bakeries and cafes — are within walking distance, and the district's character is unpretentious and daily-life oriented. The most significant value driver of recent years is the Metro Line 3 extension, which gives the area a direct link to central Athens and the airport.

The apartment is approximately 700 m from Maniatika metro station. Piraeus port is about 2.5 km away and central Athens roughly 10 km; the airport is reachable by metro without transfer in roughly 55-60 minutes. Walking distance to the metro is the main pillar of demand in both owner-occupier and long-term rental scenarios.

Maniatika metro station (Line 3): approx. 700 m
Piraeus port: approx. 2.5 km
Central Athens: approx. 10 km
Athens International Airport: approx. 55-60 min by metro

The Project and Units

The building is a new structure completed in 2026, with construction status listed as "ready" in the source data; this is a first-occupancy (brand-new) unit rather than a resale. A single unit is on the market: studio A2 (1+0), 34 sqm, with an open-plan living and sleeping area and one bathroom.

There is an inconsistency in the floor information in the source data: the floor field reads 0 while the unit code prefix points to the 1st floor; the listing uses the 1st floor and this must be verified against the plans and title deed. The energy class is not stated in the source data; the energy performance certificate is to be confirmed by the developer. With a single-unit supply, availability can change quickly and should be re-verified before every viewing.

Unit A2: studio 1+0, 34 sqm, 1st floor (subject to confirmation), EUR 132,223, available
Year built: 2026 · Status: ready for delivery · Brand-new unit
Energy class: not stated in source data — EPC confirmation required

Price Analysis

The asking price is EUR 132,223, giving a unit price of EUR 132,223 / 34 sqm = roughly EUR 3,890 per sqm. As this is a single-unit listing, there is no price band; the analysis is based on this single value.

Our conservative estimate places new-build listings across Keratsini broadly in a 2,200-3,200 EUR/sqm band, with metro proximity supporting the upper half of that band. Against this frame, the unit's price of roughly 3,890 EUR/sqm sits clearly above our district band estimate. Small units routinely trade at higher unit prices, but the premium here is a concrete example of the small-unit price-per-sqm risk.

The practical conclusion: the total ticket size (EUR 132,223) is accessible as an entry point, but the per-sqm premium paid today may not be fully recovered at resale. We recommend exploring the negotiation margin and obtaining an independent valuation opinion before purchase.

Asking price: EUR 132,223 · Unit price: approx. 3,890 EUR/sqm
Our conservative Keratsini new-build band estimate: approx. 2,200-3,200 EUR/sqm
Conclusion: unit price clearly above our district band estimate — negotiation and independent valuation advised

Rental Potential

Compact studios within walking distance of the metro are among the most liquid rental products in the wider Piraeus area, drawing steady demand from young professionals, students and port-related workers. Our conservative band for the long-term rent of a 34 sqm studio in Keratsini is EUR 400-500 per month.

Against the asking price, this band corresponds to EUR 4,800-6,000 of annual rent and a gross yield of roughly 3.6-4.5%; we keep our model in a conservative 3.5-4.5% band. After service charges, insurance, taxes and vacancy periods, net yield should be expected roughly 1-1.5 points below gross. These figures are model outputs, not any form of rental guarantee, and actual results depend on furnishing and market conditions.

The effect of the high unit price on yield should also be noted: the same rent level would produce a higher yield at a lower purchase price. Any discount achieved through negotiation directly improves the return profile.

Conservative rent band: EUR 400-500/month
Gross yield model: approx. 3.5-4.5% (not a guarantee)
Net yield expectation: roughly 1-1.5 points below gross

Risks and Points of Attention

No property investment is risk-free, and the principal risk heading for this listing is pricing. The items below summarise what must be verified on file and on site before a purchase decision.

Unit-price premium: at approx. 3,890 EUR/sqm the price sits clearly above our district band estimate; the main risk is not recovering this premium at resale.
Resale liquidity: the buyer pool in the small-studio segment is investor-weighted; exit timing and price are sensitive to market conditions.
Availability data: a single unit is on the market and its status requires confirmation; re-verify current availability before each step.
Floor-data inconsistency: the source floor field reads 0 while the unit code prefix points to the 1st floor — verification against plans and title deed is essential.
Energy class: not stated in the source data; the file should not be considered complete without sight of the energy performance certificate.
Delivery status: the building appears "ready"; occupancy permit, utility connections and the actual state of common areas should still be verified on site.
Final price plus transfer taxes and transaction costs shape the total outlay; the budget should be built with these items included.

Conclusion

A0213 has a strong location story: a brand-new, ready-for-delivery 2026 studio roughly 700 m from the metro, at an accessible total ticket size (EUR 132,223). On the rental side the demand base is broad and the product liquid; our conservative model points to a 3.5-4.5% gross yield band.

The counterweight is pricing: at roughly 3,890 EUR/sqm the unit price sits clearly above our conservative band estimate for Keratsini, and the small-unit premium appears here as a tangible cost. The listing therefore suits a buyer targeting steady rental income who can improve the entry price through negotiation, rather than a buyer focused primarily on capital appreciation.

Our recommendation is clear: an on-site viewing, confirmation of floor/title and the energy certificate, an independent valuation opinion, and active negotiation. No binding commitment should be made before these four steps are complete.