Prime Residence — A0210 Feasibility Report

M. Sami Akbeniz
2 days ago
6 min read

FEASIBILITY REPORT · KAMINIA · PIRAEUS · GOLDEN VISA

This report assesses the investment feasibility of Prime Residence (A0210), a new development in the Kaminia district of Piraeus, within a data-driven framework. The assessment draws on unit, price and specification data from the developer feed, the published listing content and our regional market observations. The aim is not marketing copy but a pre-decision document of trust.

The project is a boutique-scale new build designed to A+ energy class. According to the feed, two apartments are on sale: a 57 sqm one-bedroom (EUR 250,000) and a 91 sqm three-bedroom (EUR 440,000). Construction is at the finishing stage, with delivery planned for 2027.

All prices, availability and schedule information in this report are subject to developer confirmation. In line with our corporate policy, location is stated at district level; the exact address and unit files are shared at the consultation stage.

Location and Access

Kaminia is one of Piraeus's established, predominantly residential districts, positioned between the port and central Athens. The area stands out for everyday practicality rather than a showcase waterfront; essentials such as schools, supermarkets and pharmacies are within walking distance.

On the access side, the strongest card is connectivity: the Port of Piraeus is roughly 1.3 km away (about 7 minutes by car), and the district benefits from the public transport infrastructure that has strengthened across Piraeus in recent years. Draws such as Zeas Marina and the Stavros Niarchos Foundation Cultural Center are a short drive away.

From an investment perspective, Kaminia is one of the relatively early-priced rings of the Piraeus regeneration story; however, the pace and depth of that story will unfold over time, and no short-term appreciation should be assumed.

Supermarket ~180 m · Fitness club ~170 m · Bus stop ~190 m
Pharmacy ~220 m · ATM ~340 m
Primary school ~250 m · Secondary school ~330 m
Port of Piraeus ~1.3 km (~7 min) · Zeas Marina ~2.1 km
Stavros Niarchos Foundation Cultural Center ~3.8 km

Project and Units

Prime Residence is a boutique-scale project with contemporary architecture featuring spacious balconies and large facade openings. The specification list reflects new-generation standards: photovoltaic panels with net metering, autonomous heating and cooling via heat pump, a solar water heater, aluminium frames with high thermal and acoustic insulation, smart home infrastructure, an armoured door and alarm pre-installation.

According to the feed, construction is at the finishing stage and delivery is planned for 2027. Two apartments appear on sale; these are likely the last remaining units within the building's overall stock, which limits flexibility of choice.

The unit mix addresses two distinct profiles: the compact first-floor one-bedroom suits an entry-budget investor, while the seventh-floor three-bedroom targets an end user prioritising space and outlook, or an investor aiming at family tenants.

A1 — 1st floor, 1-bed, 57 sqm, EUR 250,000 (available)
G — 7th floor, 3-bed, 91 sqm, EUR 440,000 (available)
Energy class: designed to A+ · Construction: finishing stage · Delivery: 2027

Price Analysis

Unit prices calculated from the actual feed figures are as follows: A1 (57 sqm, EUR 250,000) at roughly EUR 4,386/sqm; G (91 sqm, EUR 440,000) at roughly EUR 4,835/sqm. The project's unit-price band is therefore approximately EUR 4,400–4,850/sqm.

For the district comparison, our conservative band is: around EUR 1,500–2,500/sqm for second-hand stock in Kaminia, and around EUR 3,000–4,000/sqm for A-class new builds across Piraeus, as our estimate. Against this frame, the project's band sits clearly above both our district average and our new-build band; the premium is partly explained by the A+ energy specification and brand-new condition, but not fully supported by market comparables.

One further point stands out: the small unit's price (EUR 250,000) coincides exactly with the threshold figure frequently cited in the Golden Visa context. The possibility that pricing is anchored to international investor demand rather than local comparables should be factored into valuation and resale considerations. We therefore recommend testing the negotiation margin on both units.

A1: EUR 250,000 / 57 sqm ≈ EUR 4,386/sqm
G: EUR 440,000 / 91 sqm ≈ EUR 4,835/sqm
Project band: ~EUR 4,400–4,850/sqm · Our conservative district band: second-hand EUR 1,500–2,500/sqm, new build EUR 3,000–4,000/sqm (estimate)

Rental Potential

For long-term rentals along the Athens–Piraeus corridor, our general conservative model is a 3–5% gross yield band. For Kaminia specifically, our rent estimate band is around EUR 500–700 per month for a 57 sqm one-bedroom and EUR 850–1,100 for a 91 sqm three-bedroom; these are estimates, not commitments.

Set against the asking prices, this rent band implies a gross yield of roughly 2.4–3.4% for A1 and roughly 2.3–3.0% for G. In other words, at the current price level the yield compresses towards the lower edge of our conservative band, and falls below it in part of the scenarios. The high unit price is the main factor mathematically suppressing rental yield.

The tenant profile in Kaminia is predominantly local households and port-related workers; this supports occupancy stability but caps rent levels. A short-let scenario is additionally subject to regulation and is not taken as the base case in this report. The feed contains no rental guarantee, and this report offers none.

1-bed (57 sqm) rent estimate: EUR 500–700/month · gross yield ~2.4–3.4%
3-bed (91 sqm) rent estimate: EUR 850–1,100/month · gross yield ~2.3–3.0%
General conservative reference band: 3–5% gross (near the lower edge in this project)

Golden Visa Framework

In the Greek Golden Visa programme, the investment threshold is not a single figure; it varies by the property's zone and by the chosen investment route. A significant part of Attica sits in the highest threshold tier for standard residential investment under current legislation.

The frequently cited EUR 250,000 level is not a location-based threshold: under current rules it applies only to special routes such as properties converted to residential use through a change of use, or the restoration of listed (protected) buildings. A unit being priced at EUR 250,000 does not mean an application can be made through that route with that unit.

For Prime Residence specifically, the applicable route must therefore be confirmed unit by unit through the title and planning file. A claim of the type 'this project is Golden Visa guaranteed' is outside the scope of this report; we run the route and file verification process together before any reservation.

Risks and Points of Attention

The items below are the points we recommend clarifying before any decision. None may be disqualifying on its own; together, however, they directly shape pricing and negotiation strategy.

Data verification: Availability, price and unit details come from the developer feed; up-to-date confirmation before reservation is essential.
Unit-price premium: The calculated ~EUR 4,400–4,850/sqm band sits clearly above our conservative district band for Kaminia, carrying valuation-gap risk on resale.
Threshold anchoring: The 57 sqm unit's EUR 250,000 price coincides with the figure frequently cited in the GV context; the possibility that pricing follows investor demand rather than local comparables should be questioned.
Yield compression: Gross rental yield on asking prices may fall below the 3% band — a weak scenario for a cash-flow-focused investor.
Delivery and construction risk: The project is at the finishing stage with delivery targeted for 2027; schedule slippage is always possible in new builds, and delay clauses should be sought in the contract.
Resale liquidity: The buyer pool in Kaminia is predominantly local; a unit priced above the district band may take longer to resell.
GV route: The applicable route requires unit-level file confirmation; do not proceed on an unverified GV assumption.

Conclusion

Prime Residence is a technically solid product: A+ energy specification, brand-new construction, and a district position with strong everyday amenities close to the Port of Piraeus. Kaminia's relatively early position in the Piraeus regeneration story offers meaningful ground for a patient, long-horizon investor.

The report's main finding, however, is clear: current asking prices sit well above our conservative district band and may push gross rental yield below the 3% mark. This profile suits a buyer prioritising new-build quality and long-term value preservation more than an investor seeking short-term yield.

Our recommendation: test the negotiation margin on both units, obtain written confirmation of availability and pricing from the developer, and — where a GV objective exists — complete route and file verification before reservation. With these three conditions met, the project can be considered a balanced Piraeus position.