NIKAIA (ATTICA SOUTHWEST) · ATHENS · GREECE GOLDEN VISA PROGRAMME
Alatsaton Project | A0128 Feasibility Report
Alatsaton & P. Tsaldari 4 Nikaia
The Alatsaton & P. Tsaldari 4 Nikaia project — a new-build conversion from an old building into 5 storeys with 26 apartments — under the αλλαγή χρήσης €250,000 lower-threshold exemption. GV-compliant per the brochure — €250-310K band.
Quick Overview
- Entry price: €250,000 – €330,000 · apartments 36-64 m²
- Unit types: 1+1 apartments + 2+1 duplexes (3 units)
- Inventory: 26 units
- Rental guarantee: No rental guarantee stated in the brochure — Nikaia rental demand is passively strong
- Golden Visa: 5-year renewable residence permit + Schengen free movement
- Energy: A Energy Class
01Executive Summary & Area Analysis
Nikaia is one of the largest and most historic municipalities of the Attica Region; located southwest of central Athens, on the foothills of Mount Aigaleo, in a strategic bridge position between Athens and Piraeus. After the opening of the Blue Line (Line 3) metro station, urban regeneration accelerated, and thanks to the University of Piraeus and the Nikaia State Hospital with 1,700+ staff, the student + healthcare-worker + academic rental base is structurally strong. The neighbourhood offers a mid-tier professional family fabric around parks and squares.
Accessibility Index
| DESTINATION | TRANSPORT | TIME |
|---|---|---|
| Nikaia Metro Station (Blue Line/Line 3) | On foot | 3 min (250 m) |
| Nikaia Town Hall | On foot | 3 min (200 m) |
| Open-Air Theatre | On foot | 6 min (500 m) |
| Art Gallery | On foot | 8 min (600 m) |
| Katrakio Theatre | By car | 3 min (1.2 km) |
| University of Piraeus | By car | 4 min (1.5 km) |
| Nikaia State Hospital (1,700+ staff) | On foot | 10 min |
| Port of Piraeus | Metro/Car | 15 min |
| Central Athens | Metro | 25 min |
| Athens Airport | Metro/Car | 50 min |
02Legal Framework & Project Description
Law No. 5100/2024 — αλλαγή χρήσης Scope
A new-build conversion from an old building into 5 storeys with 26 apartments — under the αλλαγή χρήσης €250,000 lower-threshold exemption. GV-compliant per the brochure — €250-310K band.
Project Highlights
- 5-storey building, 26 apartments + 3 duplexes
- 1- or 2-bedroom options (36-64 m²)
- A Energy Class — heat pump + solar panels
- Ground-floor apartments with private garden
- Fully furnished + white goods, turnkey
- Nikaia Metro 250 m walk
- Double glazing, thermal-break aluminium profile windows
- Parking option (€10,000 extra)
03Risk Analysis, SWOT & Conclusion
| STRENGTHS (S)• Metro 250 m — public-transport strength • Among the most affordable options under the αλλαγή χρήσης €250K exemption • University + hospital + theatre cultural & demand base • A Energy Class + furnished + white goods delivery • Family-size (2+1 duplex) option • Avla Real Estate end-to-end process assurance • Low entry threshold — €250K band • Stable rental market (students + healthcare staff) | WEAKNESSES (W)• No clear delivery date in the brochure • Nikaia is weak in the tourist-rental segment — long-term focus • No seaside/marina frontage • Not in the prestige segment regarded as central Athens • Parking is charged extra |
|---|---|
| OPPORTUNITIES (O)• The Blue Line metro regeneration halo effect continues • University of Piraeus and hospital demand is structural • Annual 5.5%+ overall macro value growth in Athens • Schengen + 7-year path to citizenship • Family coverage (spouse + children + parents) advantage • A meaningful within-budget GV alternative for the Turkish investor • Athens-Piraeus corridor development premium | THREATS (T)• The GV threshold may rise in the future (vested rights are protected) • EUR/TRY exchange-rate volatility • Limited upper-segment liquidity in Nikaia • The neighbourhood's building diversity — varies street by street • Potential for a European macro shock |
CONCLUSION & INVESTMENT DECISION
Investment decision: POSITIVE Defensive
Alatsaton Nikaia is a defensive GV alternative positioned in Athens' southwest corridor, 250 m from the metro station, under the αλλαγή χρήσης €250K threshold exemption. The proximity of the University of Piraeus and the Nikaia State Hospital with 1,700 staff structurally strengthens the long-term rental base; student and healthcare-worker demand reduces seasonal volatility. The A energy class, fully furnished and white-goods turnkey building offers the investor the ability to move into rental income immediately. The neighbourhood is a suitable strategic position for the investor with a budget in the €250-330K band who seeks stable yield rather than upper-segment coastal/prestige value.
Download the PDF version of this report
PDFA0128_Alatsaton_Project_Nikaia_Fizibilite_v11.pdfOpen the full report↗Contact — realestate@avla.com.tr · +90 532 282 2657 · Avla Gayrimenkul A.Ş.
A senior economist, graduate of Université Paris 1 Panthéon-Sorbonne, and a graduate of Istanbul University Business Administration with 33 years in business; founder of Avla. Today the focus is Greece: homes for Golden Visa and for investment. He reads every shortlist and every agreement himself.
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