TERRACE HEIGHTS — Feasibility Report
- M. Sami Akbeniz
- Jun 18
- 4 min read
PERISTERI · WEST ATHENS · GREECE GOLDEN VISA · INVESTMENT FEASIBILITY
TERRACE HEIGHTS — Feasibility Report
Terrace Heights is a new-build residential project in Peristeri, one of West Athens’ largest and fastest-regenerating municipalities. This report assesses it strictly as an investment: pricing, the €250,000 Golden Visa route, delivery options, rental-yield context, and the rooftop-view premium that sets the penthouses apart. The qualifying threshold here is the €250,000 change-of-use route — residency for the whole family plus visa-free Schengen travel — which keeps the entry point well below the €400,000 and €800,000 bands that now apply across much of central Athens.
At a Glance
Location: Peristeri, West Athens — Metro Line 2 (Anthoupoli / Peristeri stations)
Price range: €195,000 – €325,000 across studios, 1-bed, 2-bed apartments and penthouses
Golden Visa: €250,000 change-of-use route — residency for the whole family + visa-free Schengen
Delivery options: Option 1 fully furnished, or Option 2 finished apartment with notary only
Costs included: Notary and cadastral fees included in the list price
Penthouse premium: Fourth-floor units with large private roof terraces — Acropolis & Lycabettus views
Communal amenity: Shared rooftop lounge with BBQ
Availability: Many units already reserved — limited remaining inventory
Price Range by Unit Type
The project spans four product tiers, giving investors a choice between the lowest possible entry point and a view-led premium asset. All prices include notary and cadastral fees.
UNIT TYPE | PROFILE | INDICATIVE PRICE |
Studio | Compact, high-yield rental unit | €195,000 – €220,000 |
1-bedroom | Core family / professional rental | €225,000 – €260,000 |
2-bedroom | Larger family residence | €265,000 – €300,000 |
Penthouse | 4th floor + private roof terrace, Acropolis view | €300,000 – €325,000 |
Two Delivery Options
Buyers choose how the unit is handed over. Option 1 is turn-key and rental-ready from day one; Option 2 is a lower-cost, finished shell handed over with notary only — suited to investors who want to furnish to their own standard.
FEATURE | OPTION 1 — FULLY FURNISHED | OPTION 2 — APARTMENT ONLY |
Condition | Move-in / rental-ready | Finished apartment |
Furniture | Premium furniture pack | Not included |
Appliances | Full electrical appliance set | Not included |
Climate | Inverter A/C in every room | Not included |
Electronics | Smart TV included | Not included |
Handover | Turn-key, ready to let | With notary only |
The €250,000 Golden Visa Math
Terrace Heights qualifies under the €250,000 change-of-use route — the lower-threshold exception that remains open where a property is converted from a non-residential to a residential use. This is the key value angle: the same residency rights, at a fraction of the central-Athens thresholds.
ITEM | AMOUNT / OUTCOME |
Qualifying investment route | €250,000 (change-of-use) |
Minimum qualifying purchase | From €250,000 |
Notary & cadastral fees | Included in list price |
Residency granted to | Main applicant + spouse + dependent children + dependent parents |
Mobility | Visa-free travel across the Schengen Area |
Permit term | 5-year renewable residence permit |
For comparison, much of central Athens now sits in the €400,000 or €800,000 minimum-investment bands. Securing the same family residency through a €250,000 change-of-use asset is the structural advantage of this location.
Rental Yield Context — West Athens
West Athens trades at a discount to the centre while drawing a deep, family-and-professional rental base served by Metro Line 2. The figures below are indicative market context for the area, not a guaranteed return.
UNIT TYPE | INDICATIVE MONTHLY RENT | INDICATIVE GROSS YIELD |
Studio | €600 – €750 | ~4.0% – 4.5% |
1-bedroom | €750 – €900 | ~3.8% – 4.3% |
2-bedroom | €900 – €1,150 | ~3.7% – 4.2% |
Location & Demand Drivers
Peristeri is one of Greece’s largest municipalities and among the most active regeneration stories in the capital. Three structural drivers underpin demand:
Metro Line 2: Anthoupoli and Peristeri stations put central Athens, Syntagma and the university district within a direct, transfer-free ride — the single biggest factor for tenants.
Regeneration: Ongoing renewal of streetscapes, retail and public space is steadily re-rating the area, narrowing the gap to more established districts.
Value vs central Athens: Entry pricing materially below comparable central neighbourhoods, with the same Golden Visa outcome at the €250,000 threshold.
Price Context & Comparables
Against central Athens, Terrace Heights is a clear value play: new-build A-grade stock, included transaction costs, and a sub-€250,000 entry point in a metro-served, regenerating district. Where comparable new-build units in central districts routinely clear the €400,000 threshold, the studios and one-bedrooms here open the door to the programme at the lowest qualifying level — while the penthouses still cap out below €325,000.
The Penthouse & Roof-Terrace Premium
THE STANDOUT ASSET: the fourth-floor penthouses carry large private roof terraces with open views to the Acropolis and Lycabettus — a combination that is scarce at this price point anywhere in Attica. A communal rooftop lounge with BBQ adds a lifestyle amenity that supports both resale appeal and premium short- and long-let positioning.
View-led top-floor units historically defend their value better through cycles and command a rental premium over standard floors — the clearest appreciation lever in the building.
Appreciation Thesis
A metro-served, regenerating West Athens address — bought at the €250,000 Golden Visa threshold with transaction costs included, and topped by scarce Acropolis-view penthouses — combines a low entry basis with multiple re-rating drivers. The asymmetry favours the buyer: limited downside on price, real upside from regeneration and view scarcity.
A Note on Risk
In fairness: yields in West Athens sit modestly below prime-centre and short-let micro-markets, and the rental figures above are indicative, not guaranteed. New-build delivery timelines and the change-of-use legal track should be confirmed unit-by-unit before commitment. With many units already reserved, the lowest-priced studios and the view penthouses are the first to clear — availability, not price, is the binding constraint.
Avla Gayrimenkul A.Ş. — your trusted partner for the Greek Golden Visa. Contact us to confirm current availability at Terrace Heights, review unit-level pricing and the €250,000 change-of-use structure, and arrange a viewing.
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