Sapfous Residences — A0218 Feasibility Report

M. Sami Akbeniz
2 days ago
2 min read

FEASIBILITY REPORT · KALLITHEA · ATHENS

This report assesses the investment feasibility of listing A0218 — a new-build development of 13 apartments in Kallithea, Athens. Prices range from €285,645 to €441,437, with units of 57-113 m² across one- to three-bedroom layouts.

The assessment covers location and transport infrastructure, unit characteristics, price-per-square-metre analysis, rental yield modelling under conservative assumptions, and a dedicated risk section. The aim is a pre-decision due-diligence document rather than marketing copy; all figures remain subject to developer confirmation.

Location and Transport

Kallithea is one of central-south Athens' most established residential districts, surrounded by a dense fabric of local shops, squares and everyday amenities.

The building sits within walking distance of a metro station (approx. 250-700 m), a supermarket (approx. 180-500 m), a pharmacy (approx. 180-230 m) and Davaki Square (approx. 300 m) — a practical base for both owner-occupiers and tenants.

Project and Units

The project comprises 13 apartments across one- to three-bedroom layouts, 57-113 m². Construction is currently in the finishing stage, with delivery targeted for 2027.

Energy class is stated as A (the developer brochure also references A+ — this should be confirmed). Split-unit air conditioning, double glazing, heat pump heating, a solar water heater, smart-home pre-installation and a security alarm system are standard across all units.

13 units: 1-bed (57-60 m²), 2-bed (60-64 m²), 3-bed (96-113 m²)
Price range: €285,645 - €441,437
Construction status: finishing, delivery 2027
Energy class: A (brochure claims A+, to be confirmed)

Price Analysis

Unit pricing across the 13 apartments ranges from €4,038/m² (lowest, a 113 m² 3-bedroom unit) to €5,113/m² (highest, a 57 m² 1-bedroom unit) — smaller units carry a materially higher per-sqm price, a common market pattern.

By our conservative estimate, new or fully renovated stock in Kallithea typically trades in a €3,500-5,000/m² band; this project's pricing sits within that band, close to the upper end for the smaller units. Our comparison figures are conservative band estimates, not a formal valuation.

Rental Potential

Kallithea's dense residential fabric and metro access support consistent long-term rental demand. Under conservative assumptions, 1-bedroom units could model at €750-950/month and 3-bedroom units at €1,400-1,800/month.

Based on asking prices, our gross yield estimate is approximately 3.2-4.0%. Net yield will be lower once service charges, insurance, tax, vacancy periods and management costs are deducted. Current rental estimates can be shared on request.

Risks and Considerations

Availability data is sourced from the developer's feed and requires confirmation; the feed shows all units as 'available', which may not reflect the current live sales table.

The 2027 delivery date is not a contractual commitment and should be confirmed with the developer. The A/A+ energy class discrepancy should be clarified. Smaller units (57-60 m²) carry a materially higher price per sqm than larger ones; full recovery of this premium on resale is not guaranteed.

Conclusion

Sapfous Residences offers a new-build, energy-efficient portfolio in a central, well-connected part of Kallithea. The suitable profile is an end user or investor comfortable with construction risk, prioritising energy efficiency and new-build quality, with a medium-to-long horizon (5+ years).

Price negotiation and unit selection are the main levers of return; the 2-bedroom and 3-bedroom units merit first review on pricing efficiency.