ELLINIKO (ATHENS RIVIERA) · ATHENS · GREECE GOLDEN VISA PROGRAMME
Venus Athens Riviera | A0136 Feasibility Report
VENUS Athens Riviera
The VENUS Athens Riviera project — a 58-apartment coastal residence in the premium Elliniko coast, positioned 300 m from the boundary of the Hellinikon mega-project. Under the Law No. 5100/2024 αλλαγή χρήσης (επαγγελματικό/εμπορικό → κατοικία) mechanism, the €250,000 GV threshold applies; the €800K new-build threshold in the Athens A-zone does not apply. With pricing in the €278-380K band — above the GV minimum threshold (€250K) — all units are GV eligible.
2-minute audio brief
Quick Overview
- Entry price:€278,000 – €380,000+ · 31-49 m² interior / 35-82 m² total
- Unit types:Studio and 1-bed (58 apartments total)
- Inventory:58 units
- Rental guarantee:Not stated in the brochure — the Elliniko Riviera premium rental market is passively strong
- Golden Visa:5-year renewable residence permit + Schengen free movement
- Energy:B+ (brochure)
- Delivery:2028 Q3 (3rd Quarter 2028)
01Executive Summary & Area Analysis
Elliniko is one of the Athens Riviera's most desirable coastal neighbourhoods — a cosmopolitan living hub 4 km from Athens' historic centre and close to the seafront. The Ellinikon mega-project (€8 billion investment; marina, luxury hotels, offices, parks), built on the 2,700-decare site of the former Athens Airport, will structurally drive neighbourhood prices upward over the next 5-10 years. Flisvos Marina, boutique shopping, fine dining and an international-school ecosystem draw premium expat and Turkish investor demand to the area.
Accessibility Index
| DESTINATION | TRANSPORT | TIME |
|---|---|---|
| Shopping area | On foot | 1 min (100 m) |
| Metro Station | On foot | 3-4 min (300 m) |
| Hellinikon Mega-Project (boundary) | On foot | 3-4 min (300 m) |
| University of Nicosia (Athens campus) | On foot | ~10 min |
| Hospital | On foot | ~10 min |
| Coast (Elliniko) | By car | ~7 min |
| Glyfada Marina | By car | ~10 min |
| Flisvos Marina | By car | ~15 min |
| Stavros Niarchos Cultural Centre | By car | ~12 min |
| Acropolis | By car | ~25 min |
02Legal Framework & Project Description
Law No. 5100/2024 — αλλαγή χρήσης (επαγγελματικό/εμπορικό → κατοικία) Scope
A 58-apartment coastal residence in the premium Elliniko coast, positioned 300 m from the boundary of the Hellinikon mega-project. Under the Law No. 5100/2024 αλλαγή χρήσης (επαγγελματικό/εμπορικό → κατοικία) mechanism, the €250,000 GV threshold applies; the €800K new-build threshold in the Athens A-zone does not apply. With pricing in the €278-380K band — above the GV minimum threshold (€250K) — all units are GV eligible.
Project Highlights
- 58-apartment complex — 3-storey structure (ground + 1st/2nd/3rd floor)
- 300 m to the Hellinikon Mega-Project boundary
- Metro Station, a 300 m walk
- Grohe fittings + European kitchen
- B+ energy class (heating: pending)
- Ground-floor studio apartments with a 'playroom' area (39-42 m² + 19-20 m²)
- 1-bed apartments, 36-43 m², with balconies
- 15 min to Athens Airport — a rare advantage on the Riviera
- University of Nicosia Athens campus, 800 m
03Risk Analysis, SWOT & Conclusion
| STRENGTHS (S)• Athens Riviera premium coastal location — Elliniko • 300 m to the Hellinikon mega-project boundary — a value-premium catalyst • Mid-size inventory of 58 apartments — flexible price point • Metro 300 m + airport 15 min • Grohe + European kitchen premium fit-out • Close to the coastal ecosystem (Flisvos, Glyfada) • B+ energy class (modern standard) • A gateway to the Athens Riviera for Turkish investors | WEAKNESSES (W)• 2028 Q3 delivery — a long capital lock-up period • Heating system 'pending' (brochure) • GV mechanism unclear — developer confirmation required • Studio units (ground floor) — limited for the premium segment • Parking N/A (in most units) • Upper units above the GV €250K threshold |
|---|---|
| OPPORTUNITIES (O)• Hellinikon mega-project openings 2027-2030 — value premium • Athens Riviera 6-8% annual appreciation (last 3 years) • Growing marina + luxury-hotel + park ecosystem • Schengen + 7-year path to citizenship • Family coverage advantage (spouse + children + parents) • Turkish investor premium Riviera demand +30% annually • Airport 15 min — short-term tourist-rental strength | THREATS (T)• Questions over the GV mechanism/threshold — developer clarity essential • The GV threshold may rise in future (acquired rights are protected) • EUR/TRY exchange-rate volatility • Risk of the Hellinikon opening date being postponed • Tightening trend in Airbnb regulation (affects coastal premium) • Potential European macro shock |
CONCLUSION & INVESTMENT DECISION
Investment decision:POSITIVE Riviera
VENUS Athens Riviera is a 58-apartment coastal residence in Elliniko, the crown of the Athens Riviera, positioned 300 metres from the boundary of the Hellinikon mega-project (€8 billion, 2,700 decares). Its proximity to the metro (300 m), Athens Airport (15 min) and the Glyfada-Flisvos marina ecosystem offers a strategic alternative that brings a premium Riviera profile into the mid-budget (€278-380K) band. The B+ energy class, Grohe fittings and European kitchen meet modern standards; the studios' spacious ground-floor layout with a 'playroom' area and the balconies of the upper-floor 1-bed apartments provide access to both the short-term tourist and long-term expat rental segments. Under the αλλαγή χρήσης (€250K GV threshold) mechanism, all units are GV eligible; the 2028 Q3 delivery capital lock-up, timed in parallel with the Hellinikon openings, creates the potential to fully benefit from the mega-project halo effect.
Download the PDF version of this report
PDFA0136_Venus_Athens_Riviera_Elliniko_Fizibilite_v11.pdfOpen the full report↗Contactrealestate@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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