MIKROLIMANO / KASTELLA — PIRAEUS · ATHENS · GREECE GOLDEN VISA PROGRAMME
Mikrolimano 38N | A0127 Feasibility Report
38N Mikrolimano Kastella
The 38N Mikrolimano Kastella project — the conversion of a marina-adjacent building in Mikrolimano located along the 38th northern parallel — falls within the αλλαγή χρήσης €250,000 threshold exception. The brochure explicitly highlights it as Golden Visa compliant.
Quick Overview
- Entry price: €335,000 – €365,000 · apartments 37-90 m² (maisonette + apartment)
- Unit types: 1+1 and 2+1 (predominantly maisonettes)
- Rental guarantee: No rental guarantee stated in the brochure
- Golden Visa: 5-year renewable residence permit + Schengen free movement
- Energy: A Energy Class
01Executive Summary & Area Analysis
Mikrolimano and Kastella are Piraeus's most prestigious coastal district; with its natural yacht marina, seafront restaurants and Neoclassical architecture, it is one of the most popular coastal destinations among Athenians. Home to the Hellenic Yacht Club and leading shipowners, the area's quality of life — combined with its maritime heritage and culture — structurally supports the floor price. The Kastella hill creates cultural appeal with its panoramic Saronic Gulf views and the Veakeio Municipal Theatre.
Accessibility Index
| DESTINATION | TRANSPORT | TIME |
|---|---|---|
| Mikrolimano Marina | On foot | 1.5 min |
| Seaside promenade | On foot | 1.5 min |
| Beach | On foot | 2 min |
| Seafront restaurants | On foot | 1.5 min |
| Veakeio Open-Air Theatre (Kastella) | On foot | 8-10 min |
| Marina Zeas | By car | 5 min |
| Port of Piraeus | By car | 8 min |
| Stavros Niarchos Cultural Centre | By car | 15 min |
| Athens City Centre | By car | 20 min |
| Athens International Airport | By car | 45 min |
02Legal Framework & Project Description
Law No. 5100/2024 — αλλαγή χρήσης Scope
The conversion of a marina-adjacent building in Mikrolimano located along the 38th northern parallel — within the αλλαγή χρήσης €250,000 threshold exception. The brochure explicitly highlights it as Golden Visa compliant.
Project Highlights
- A 1-minute walk from Mikrolimano Marina
- A Energy Class — heat pump + solar panels
- Turnkey, fully furnished and equipped with electrical appliances
- Panoramic Saronic Gulf views
- Predominantly maisonette layout — 1+1 and 2+1 options
- Double glazing with a thermal barrier + 10 cm exterior facade insulation
- A contemporary facade in keeping with the classic Neoclassical fabric
- Understated luxury interior design — select materials
03Risk Analysis, SWOT & Conclusion
| STRENGTHS (S)• Piraeus's most prestigious coastal neighbourhood — Kastella/Mikrolimano • Walking distance to the marina and the beach • A Energy Class + premium technical equipment • Turnkey furnished — quick rental entry • Panoramic Saronic Gulf views • The upper-segment face of Piraeus's economic transformation • A historic point of attraction for Greek shipowners • High demand for short-term touristic rentals | WEAKNESSES (W)• Entry threshold €335K — above the €250K band • No delivery date stated in the brochure • Metro not directly nearby — car dependent • The upper-segment price band may have weak liquidity • Parking details are not clear |
|---|---|
| OPPORTUNITIES (O)• Continuous value appreciation in the premium Mikrolimano neighbourhood • Growing yacht tourism and maritime demand • Geographic proximity advantage of Piraeus for Turkish investors • High short-term premium rental potential • Schengen + 7-year path to citizenship • Family coverage advantage (spouse + children + parents) • The Piraeus-Athens coastal transformation as a multi-year catalyst | THREATS (T)• The GV threshold may rise (acquired rights are preserved) • EUR/TRY exchange rate volatility • Airbnb regulation — affecting the premium coastal area • Upper-segment liquidity may be cyclically volatile • Potential for a European macro shock |
CONCLUSION & INVESTMENT DECISION
Investment decision: POSITIVE Premium
38N Mikrolimano is an upper-mid segment conversion project located in Kastella, one of Piraeus's most prestigious coastal neighbourhoods, a 1-minute distance from the marina and the beach. With its A energy class, premium technical equipment and turnkey furnished structure, it offers the investor the opportunity to put it up for rent immediately; its panoramic Saronic Gulf views and Neoclassical district fabric create a scarce-supply dynamic. As the entry price is around €335K, the lowest band is above the GV €250K threshold, but for the investor the combination of short-term premium rental + long-term appreciation potential is strong. The delivery date and energy certificate details should be verified with the developer.
Download the PDF version of this report
PDFA0127_Mikrolimano_38N_Piraeus_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.
Founder profile →
