The Ellinikon Views — A0169 Feasibility Report

FEASIBILITY REPORT · ELLINIKO · ATHENS RIVIERA · GOLDEN VISA

The Ellinikon Views (A0169) sits in Elliniko, the centre of gravity of the Athens Riviera, and is one of six projects newly added to our portfolio in August 2026. This report is based on the price list dated 1 July 2026 and the project documentation; that list is the authority for inventory and pricing, and availability can change during the day.

The project is the only genuine location-premium file in our new selection: it stands right beside the Ellinikon, the vast urban regeneration under way on the former Athens airport site, roughly 300 metres from the terminus of the M2 metro line. Of the 28 units in the building, 9 are available as at 1 July 2026; the price range is 295.000 € - 380.000 € and the stated delivery date is 31 December 2026.

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Location and Transport

Elliniko is the focal point of the Athens Riviera. The project sits immediately beside the huge regeneration advancing on the former airport site — towers, a shopping mall, a coastal park, schools. This is the most debated value-growth district in Athens for the coming decade, and The Ellinikon Views is physically inside that story.

The transport picture is clear: roughly 300 metres on foot to the terminus of the M2 metro line, with the coastal tram and the main seafront axis nearby. The metro gives direct links both to the city centre and to the airport. A Riviera address combined with rail access is not a combination every project in the area can offer.

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Project and Build

The project is a conversion of the existing structure to residential use; the conversion licence has been issued and completion is stated as 31 December 2026. The building offers a communal swimming pool plus a shared sea-view roof terrace and lounge — two amenities that are among the most effective tenant magnets at small unit sizes.

The 28 units are predominantly one-bedroom and studio layouts. Across the project, net internal areas run 26–50 m²; ground-floor units carry terraces or gardens of up to 10–105 m², while upper floors have 3 m² balconies. The sales pace confirms demand in the area: 19 of the 28 units are sold.

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Unit Inventory and Pricing

As at the 1 July 2026 list, 9 units are available; all are one-bedroom layouts of 28–36 m² net internal area. Prices separate on floor level and outdoor space: the same 32 m² unit costs €305,000 on the first floor and €352,000 on the second. The top end is a ground-floor 36 m² unit with a 31 m² terrace.

• I2 — Ground floor · 30 m² + 10 m² terrace · 1 bed · €315,000

• I3 — Ground floor · 28 m² + 10 m² terrace · 1 bed · €295,000

• I6 — Ground floor · 36 m² + 31 m² terrace · 1 bed · €380,000

• I7 — Ground floor · 33 m² + 19 m² terrace · 1 bed · €347,000

• I8 — Ground floor · 33 m² + 19 m² terrace · 1 bed · €347,000

• A7 — 1st floor · 32 m² + 3 m² balcony · 1 bed · €305,000

• A8 — 1st floor · 32 m² + 3 m² balcony · 1 bed · €315,000

• B7 — 2nd floor · 32 m² + 3 m² balcony · 1 bed · €352,000

• B8 — 2nd floor · 32 m² + 3 m² balcony · 1 bed · €352,000

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Golden Visa

The framework must be set correctly: in the Greek Golden Visa programme, €250,000 is not a location threshold. The standard investment threshold across Attica is €800,000; the €250,000 level is a special route granted only to properties on the change-of-use (conversion) or reconstruction route, on condition that the conversion is complete.

The Ellinikon Views is on this conversion route and the conversion licence has been issued. However, because construction is ongoing and completion is expected at the end of 2026, the residence application falls after completion and handover. Every price in the project sits comfortably above €250,000, so there is no deed-value question; in all cases the deed value must not fall below €250,000.

The general conditions of the programme also apply: the residence permit runs for 5 years and is renewable while the property is held. Airbnb-type short-term letting is not permitted on a Golden Visa property, and selling the property cancels the permit.

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Rent and Yield

Tenant profile: white-collar professionals moving to the Riviera, specialists working around the regeneration, and long-stay foreign residents. Rent levels sit in the upper band of our selection and the demand base does not depend on the tourist season.

The yield equation should be read honestly: rent is high but so is the price, and gross yield stays mid-band. The investment thesis here is not rental income but the value growth expected as the regeneration phases complete. The communal pool and sea-view roof terrace shorten the time needed to find tenants at these sizes; under Golden Visa rules, the letting thesis must rest on long-term tenancies.

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Risks

The risk items below are carried over directly from our area and project reports and should be read as part of the investment decision:

• The highest price per m² in our selection; the location premium is paid up front.

• At small sizes the price per unit stays high: €295,000 for 28 m².

• The communal pool and roof terrace raise service charges and running costs.

• The Ellinikon regeneration advances in phases; timetables can slip and construction impact may last for years.

• Much of the future expectation is already priced into the area — part of the story is paid for today.

• Construction is ongoing; delivery is stated as 31 December 2026, and since the residence application follows handover, the Golden Visa timeline is tied to the delivery timeline.

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Assessment

The Ellinikon Views is a file designed for the investor who seeks location and capital growth rather than rental yield and is willing to wait until the end of 2026 for handover. Being roughly 300 metres from the metro and immediately beside the vast regeneration is the combination that widens the resale buyer pool more than anything else in our selection.

Conversely, it is not the right address for an investor who wants high gross yield from day one, is sensitive to service charges, or wants a deed today and rent today; the completed projects in our selection fit that profile better. The summary verdict: the location premium is real and it is in the price — the buyer here is purchasing not today's rent but the ten-year story of the Ellinikon.

For a current availability check, payment plan, floor plans and the Golden Visa file steps, please contact Avla Gayrimenkul. Inventory and prices are list data dated 1 July 2026; final confirmation takes place at contract stage.

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Avla Gayrimenkul A.Ş. — your trusted partner for the Greek Golden Visa. Contact us for current availability, payment plans and the residency file steps for this project: realestate@avla.com.tr · +90 532 282 2657