Feasibility report
Kato Elliniko Pool Residences
This report examines the 23-home residential building in Kato Elliniko, beside The Ellinikon, at unit level: the complete inventory and current availability, a reading of the pricing, specification and amenities, indicative rent and yield, the Golden Visa route, ownership, payment and delivery terms, and a risk assessment.
01Executive summary
A0220 is a residential building of 23 homes in Kato Elliniko, on the Athens Riviera, directly beside The Ellinikon regeneration area. It is arranged over three levels: eleven homes on the ground floor, ten on the first floor and two "Signature" homes on the second floor with access to the rooftop lounge. The scheme is a full redevelopment of an existing building (original building permit 2004); the new building licence is in progress. The product consists of one- and two-bedroom homes delivered fully furnished and equipped, with a resort-style swimming pool, a landscaped roof garden and a rooftop lounge.
Three factors define the investment case. The first is location: the building sits about a minute from The Ellinikon, one of Europe's largest urban regeneration projects, about three minutes from the Riviera beaches and five minutes by car from the centre of Glyfada, with metro Line 2 and Vouliagmenis Avenue close at hand. The second is the turnkey product with shared amenities: fully furnished delivery together with a pool, a roof garden and a rooftop lounge. The third is the Golden Visa route: the developer classifies the scheme under the €250,000 change-of-use route, and every available unit is priced at €300,000 or above, above that threshold. A three-year property management programme offered by the developer (fee: 20% of rent) supports hands-off ownership.
Against that, the report records two points from the outset: the new building licence is still in progress, so the 18-month delivery period (plus a 3-month tolerance) has not yet started; and the energy class, heating and cooling system, parking, storage and service charge are to be confirmed by the developer. These headings should be settled in writing at offer stage, together with the Golden Visa eligibility of the chosen unit.
- Reference
- A0220 · Kato Elliniko · Athens Riviera
- Building
- Three levels · ground, 1st and 2nd ("Signature") floor with roof · lift
- Project
- Full redevelopment of an existing building (2004 permit) · new licence in progress
- Inventory
- 23 one- and two-bedroom homes · 11 ground, 10 first floor, 2 Signature
- Availability
- 15 available · 4 reserved · 4 sold
- Net interior area
- 40.19 – 83.38 m² (available units 40.19 – 63.52 m²)
- Balconies and terraces
- 4.25 – 89.55 m² · garden or courtyard access on the ground floor
- Price range
- €300,000 – €380,000 (available; list 24.09.2026)
- €/m² net
- 5,982 – 7,589 · scheme average 7,367 (available units)
- Specification
- Fully furnished and equipped · wood and stone finishes · walk-in showers
- Amenities
- Pool · roof garden · rooftop lounge with firepit · BBQ areas · CCTV
- Golden Visa
- €250,000 change-of-use route (developer) · our lawyer confirms per unit
- Property management
- Three-year developer programme · fee 20% of rent
- Energy, parking, storage, service charge
- To be confirmed by the developer
- Delivery
- 18 months from building licence (+3 months tolerance)
02Scheme overview
Layout and Concept
The building sits in Kato Elliniko, within the Elliniko-Argyroupoli municipality, about 10–12 km from central Athens and directly beside The Ellinikon. The scheme is a full redevelopment of an existing building: the original building permit dates from 2004 and the new building licence is in progress. The three-level arrangement is compact: eleven homes on the ground floor with private garden or courtyard access, ten one-bedroom homes on the first floor, and two Signature homes on the second floor, each with a private jacuzzi and access to the rooftop lounge. A lift and stair core serves all levels. The architectural language is contemporary: floor-to-ceiling glazing, generous balconies including signature curved balconies, natural wood and premium stone finishes.
Location and Access
- The Ellinikon. Directly adjacent, about 1 minute.
- Riviera beaches. About 3 minutes.
- Glyfada centre. About 5 minutes by car.
- Road and rail. Direct access to Vouliagmenis Avenue; metro Line 2 (Elliniko station).
- Central Athens and the airport. About 10–12 km to the city centre; Athens International Airport about 25–30 minutes.
The Ellinikon is spreading its effect on values to the surrounding districts of the Riviera — Glyfada, Voula and Alimos — and Kato Elliniko sits immediately beside it. The investment profile of this location is therefore weighted towards long-term capital growth rather than running yield.
Distribution by Level
| Level | Units | Avail. · Res. · Sold | Net area band | Price band | €/m² avg. |
|---|---|---|---|---|---|
| Ground floor | 11 | 6 · 4 · 1 | 40.32 – 83.38 m² | €300,000 – €380,000 | 7,156 |
| 1st floor | 10 | 9 · 0 · 1 | 40.19 – 45.19 m² | €305,000 – €319,000 | 7,508 |
| 2nd floor (Signature) | 2 | 0 · 0 · 2 | 47.81 – 50.28 m² | Sold | — |
| Scheme total | 23 | 15 · 4 · 4 | 40.19 – 83.38 m² | €300,000 – €380,000 | 7,367 |
Floor Arrangement
- Ground floor (ceiling height 2.90 m). Eleven homes: nine one-bedroom units (G1 – G4, G7 – G11, 40.32 – 42.13 m² net), the two-bedroom G5 (63.52 m²) and G6, the largest residence in the scheme (83.38 m² with 75.45 m² of outdoor space). The ground-floor homes open onto private gardens or courtyards; the pool is at garden level.
- First floor (ceiling height 2.85 m). Ten one-bedroom homes (A1 – A10, 40.19 – 45.19 m² net) with balconies of 4.25 – 8.81 m², including the signature curved balconies.
- Second floor — Signature level (ceiling height 2.80 m). Two two-bedroom homes, B1 (47.81 m² with 38.00 m² of outdoor space) and B2 (50.28 m² with 89.55 m²), each with a private jacuzzi and access to the rooftop lounge.
03Unit mix and pricing
The tables below contain all 23 units in the developer's price and availability list dated 24.09.2026. Reserved and sold units are shown without a price; availability is subject to confirmation at offer stage.
Ground Floor
| Unit | Net m² | Balcony / terrace m² | Total m² | List Price | €/m² net | Status |
|---|---|---|---|---|---|---|
| G1 | 41.09 | 8.54 | 49.63 | €304,000 | 7,398 | Available |
| G2 | 40.32 | 5.78 | 46.10 | €300,000 | 7,440 | Available |
| G3 | 40.75 | 7.98 | 48.73 | €302,000 | 7,411 | Available |
| G4 | 42.13 | 12.82 | 54.95 | €309,000 | 7,334 | Available |
| G5 (2-bed) | 63.52 | 7.85 | 71.37 | €380,000 | 5,982 | Available |
| G6 | 83.38 | 75.45 | 158.83 | — | — | Sold |
| G7 | 41.13 | 19.37 | 60.50 | — | — | Reserved |
| G8 | 41.87 | 14.48 | 56.35 | — | — | Reserved |
| G9 | 40.47 | 19.50 | 59.97 | — | — | Reserved |
| G10 | 41.42 | 20.10 | 61.52 | — | — | Reserved |
| G11 | 41.40 | 13.46 | 54.86 | €305,000 | 7,367 | Available |
| Available (6) | 40.32 – 63.52 | €300,000 – €380,000 | 7,156 |
First Floor
| Unit | Net m² | Balcony / terrace m² | Total m² | List Price | €/m² net | Status |
|---|---|---|---|---|---|---|
| A1 | 41.20 | 6.27 | 47.47 | €309,000 | 7,500 | Available |
| A2 | 41.53 | 6.62 | 48.15 | €311,000 | 7,489 | Available |
| A3 | 41.38 | 7.35 | 48.73 | €310,000 | 7,492 | Available |
| A4 | 41.90 | 4.25 | 46.15 | €313,000 | 7,470 | Available |
| A5 | 40.40 | 7.10 | 47.50 | €306,000 | 7,574 | Available |
| A6 | 42.97 | 7.54 | 50.51 | €319,000 | 7,424 | Available |
| A7 | 45.19 | 4.75 | 49.94 | — | — | Sold |
| A8 | 40.42 | 6.39 | 46.81 | €306,000 | 7,571 | Available |
| A9 | 40.19 | 8.81 | 49.00 | €305,000 | 7,589 | Available |
| A10 | 41.95 | 8.10 | 50.05 | €313,000 | 7,461 | Available |
| Available (9) | 40.19 – 42.97 | €305,000 – €319,000 | 7,508 |
Second Floor — Signature Level
The two Signature homes on the second floor are two-bedroom residences with a private jacuzzi and access to the rooftop lounge. Both have been sold; they are shown here so that the full inventory of the building is visible.
| Unit | Net m² | Balcony / terrace m² | Total m² | List Price | €/m² net | Status |
|---|---|---|---|---|---|---|
| B1 (2-bed) | 47.81 | 38.00 | 85.81 | — | — | Sold |
| B2 (2-bed) | 50.28 | 89.55 | 139.83 | — | — | Sold |
Reading the Pricing
- A tight one-bedroom band. The fourteen available one-bedroom homes are priced between €300,000 and €319,000 — a band of €19,000 — and between 7,334 and 7,589 €/m² net. Within the band, the choice is driven by floor and outdoor space rather than by price.
- The ground floor offers more outdoor space. The available ground-floor one-bedroom homes average 7,390 €/m² net against 7,508 on the first floor, about 1.6% lower, and add garden or courtyard access. G4 and G11 carry 12.82 m² and 13.46 m² of outdoor space; over net plus outdoor area their rates fall to about 5,623 and 5,560 €/m².
- G5 stands out. The only available two-bedroom home, G5, offers 63.52 m² net and 7.85 m² of outdoor space for €380,000; at 5,982 €/m² net it is about 20% below the one-bedroom average and the most efficient cost per square metre in the scheme.
- The entry ticket. G2, at €300,000 for 40.32 m², is the lowest entry point; G3 (€302,000) and G1 (€304,000) follow. On the first floor the entry point is A9 at €305,000.
- Early absorption. Eight of the 23 units (about 35%) are already reserved or sold, including both Signature homes, the largest ground-floor residence G6 and the four ground-floor one-bedroom homes with the largest terraces (G7 – G10, 14.48 – 20.10 m²). Units with generous outdoor space have moved first.
04Build quality and energy
Energy Performance
The energy class and the heating and cooling system are to be confirmed by the developer. Because the building is being fully redeveloped, the specification of the building envelope, the frames and glazing and the climate-control system should be obtained in writing at offer stage, together with the target class of the energy performance certificate (ΠΕΑ). In the Riviera rental market tenants decide on the sum of rent and energy bill, so these are among the first documents to settle. The floor-to-ceiling glazing is a strong gain in daylight; its performance should be assessed within the same confirmation.
Specification
- Delivery standard. Fully furnished and equipped — no further outlay required before letting.
- Interiors. Open-plan living and kitchen; floor-to-ceiling glazing; natural wood and premium stone finishes.
- Bathrooms and storage. Walk-in showers and built-in storage.
- Outdoor space. Generous balconies including signature curved balconies; private garden or courtyard access from the ground-floor homes; a private jacuzzi with each Signature home.
- Shared amenities. Resort-style swimming pool at garden level; landscaped roof garden; rooftop lounge with open-fire (firepit) seating; BBQ and entertainment areas.
- Security and circulation. Controlled entry, a CCTV system, and a lift and stair core serving all levels.
- Ceiling heights. Ground floor 2.90 m · first floor 2.85 m · second floor 2.80 m.
Parking, Storage and Service Charge — An Honest Reading
| Item | Position | What it means for the investor |
|---|---|---|
| Parking | To be confirmed by the developer | The share of car-owning tenants on the Riviera is high; parking feeds directly into rental pricing and resale. |
| Storage | To be confirmed by the developer | Demand for storage is noticeable in furnished compact homes; built-in storage meets part of that need. |
| Service charge | To be confirmed by the developer | A pool, a roof garden and a lounge carry running costs (cleaning, maintenance, water and energy); the service charge feeds directly into net yield. |
| Area confirmation | Approved plans prevail | The m² figures to be used in the sale contract, interior and balcony/terrace, are to be confirmed against the approved plans of the new building licence. |
05Indicative rent and gross yield
The rental figures in this section are indicative assumptions. They are not a market measurement and do not rest on a cited index; their purpose is to let the investor see the order of magnitude. A final calculation for any given unit must be built together with current, local rental evidence.
Typical Unit Calculation
The calculation is built on two units: G2, the lowest entry ticket in the scheme, and G5, the only available two-bedroom home.
| Item | G2 | G5 |
|---|---|---|
| Net interior area | 40.32 m² | 63.52 m² |
| Balcony / terrace | 5.78 m² | 7.85 m² |
| Level | Ground floor · one-bedroom | Ground floor · two-bedroom |
| List price | €300,000 | €380,000 |
| €/m² | 7,440 | 5,982 |
| Approximate all-in cost (≈ 6%) | ≈ €318,000 | ≈ €402,800 |
| Indicative monthly rent | €900 – €1,100 | €1,200 – €1,500 |
| Indicative annual gross rent | €10,800 – €13,200 | €14,400 – €18,000 |
| Gross yield — on list price | 3.6% – 4.4% | 3.8% – 4.7% |
| Gross yield — on all-in cost | 3.4% – 4.2% | 3.6% – 4.5% |
| Indicative net yield (after operating costs) | 2.6% – 3.2% | 2.8% – 3.5% |
Commentary
The figures sit within the band expected in the Riviera's market for new, furnished homes. The turnkey product and the shared amenities shorten the time to letting, and the coastline and The Ellinikon axis feed corporate and long-stay demand alongside year-round long-term tenants. Over the longer term, however, the case in this location rests more on capital growth than on running yield: as The Ellinikon is delivered, its effect on values is spreading across the surrounding Riviera districts.
Golden Visa and letting. Homes acquired under the Golden Visa programme cannot be let on short-term (Airbnb-type) platforms; long-term letting is unrestricted. The rent bands above are long-term assumptions and are therefore consistent with a Golden Visa purchase.
Property management. The developer offers a three-year property management programme with a management fee of 20% of rent. If the programme is used, the operating-cost share is likely to exceed the 22% assumed above and the net yield will be correspondingly lower; the calculation should be rebuilt on the programme's final terms. It should also be rebuilt with its time dimension once the building licence has been issued and the delivery date fixed, since capital generates no rent in the period up to handover.
06Acquisition costs
The rates below are the approximate bands generally applied on residential purchases in Greece. Final amounts vary with the structure of the transaction, the assessed value and the service providers engaged; they should be confirmed against current legislation and on a transaction basis before every purchase.
| Item | Approximate rate | Note |
|---|---|---|
| Transfer tax (φόρος μεταβίβασης) | ~3.1% | Whether VAT applies depends on the building type and the regulation in force, and must be confirmed before purchase. |
| Notary | ~1.0 – 1.5% | Tiered scale linked to the contract value. |
| Legal | ~1.0 – 1.5% | Includes title investigation and transaction handling. |
| Land registry / cadastre (Κτηματολόγιο) | ~0.5 – 0.7% | Registration duties and disbursements. |
| Agency fee | 0% | No agency fee is charged to the buyer on this listing. |
| Total acquisition costs (approximate) | ~5.5 – 7% | 6% is assumed in the calculations. |
Pre-Transaction Requirements
- Tax number (ΑΦΜ). A precondition for acquiring property in Greece; it can be obtained by power of attorney.
- Bank account. Payments must be made through banking channels with a documented source of funds.
- Legal and technical due diligence. Title history, planning status, permits and title-unit definitions; also the new building licence, the change-of-use permit, the horizontal-ownership structure and the right-of-use definitions for gardens, courtyards and terraces.
- Annual charges. Property tax (ΕΝΦΙΑ), building service charges, insurance and taxation on rental income all form part of operating costs.
07Payment, ownership and delivery
Ownership Structure
Residential ownership in Greece is freehold; there is no leasehold regime. In multi-unit buildings, each residence is defined as a separate title unit under the οριζόντια ιδιοκτησία (horizontal ownership) framework, with an undivided share of the land attached to it. The buyer acquires full ownership of their own unit and a proportionate interest in the common areas.
Delivery and Timing
- Building licence: the new building licence for the redevelopment is in progress (original building permit 2004).
- Scheduled delivery: 18 months from the issue of the building licence, with a tolerance of 3 months. The delivery period starts only when the licence is issued.
- Delivery standard: fully furnished and equipped; ready to let on handover.
- Capital lock-up: until the licence is issued, the delivery date, and with it the time dimension of the yield calculation, cannot be fixed. The expected licence date, the delivery date and the remedy for delay should be obtained in writing together at offer stage.
- Area confirmation: the m² figures used in the contract should be matched against the approved architectural plans, and a price-adjustment mechanism for variance should be sought.
Payment Schedule
The developer offers two payment options:
| Option | Deposit | Balance |
|---|---|---|
| Option 1 | 10% | Balance paid at the signing of the final contract |
| Option 2 | 30% | Instalments up to delivery |
Under Option 2 a larger share of capital is committed while the licence is still in progress and before works are complete. It is recommended that instalments be tied to evidence of construction progress, and that the terms applying to the deposit should the licence be delayed be obtained in writing at offer stage.
Golden Visa Route
The developer classifies the scheme under the €250,000 change-of-use (αλλαγή χρήσης) route of the Greek Golden Visa programme. All fifteen available units are priced from €300,000, above the €250,000 threshold. As the new building licence is still in progress, our lawyer confirms the change-of-use permit and the residence-permit timeline for the chosen unit before signing. Homes acquired under the programme cannot be let on short-term (Airbnb-type) platforms; long-term letting is unrestricted.
Property Management
The developer offers buyers a three-year property management programme; the management fee is 20% of rent. The scope of the service, the letting type (long-term, consistent with the Golden Visa) and the terms for renewal or exit should be obtained in writing.
Pre-Contract Checklist
1. Status and expected issue date of the building licence; the 18-month delivery period, the 3-month tolerance and the remedy applying on delay · 2. Change-of-use permit and Golden Visa eligibility of the chosen unit, confirmed by our lawyer, with the residence-permit timeline · 3. Energy class, heating and cooling system and the energy performance certificate · 4. Parking and storage position and, where applicable, their legal character · 5. Annual service charge budget, including pool and roof-area maintenance · 6. The furniture and equipment inventory delivered, with warranty scope · 7. The payment option chosen, with instalments tied to construction progress, and the terms of the three-year management programme.
08Swot
Strengths
- Directly beside The Ellinikon (~1 minute); Riviera beaches ~3 minutes; metro Line 2 and Vouliagmenis Avenue at hand
- Fully furnished and equipped delivery: no further outlay before letting
- Resort-style pool, landscaped roof garden, rooftop lounge and BBQ areas
- Golden Visa route: developer classification under the €250,000 change-of-use route; every available unit above the threshold
- A clear, comparable price ladder: one-bedroom homes between €300,000 and €319,000
- Three-year developer property management programme for hands-off ownership
- Glyfada centre ~5 minutes by car; the airport ~25–30 minutes
Weaknesses
- New building licence in progress — the 18-month delivery period has not yet started
- Energy class and heating and cooling system subject to confirmation
- Parking, storage and service charge subject to confirmation
- Compact net areas: 40.19 – 42.97 m² for the available one-bedroom homes
- High net rate per square metre in the one-bedroom segment (7,334 – 7,589 €/m²)
- Indicative net yield band is measured (2.6% – 3.5%); a 20% management fee would lower it further
- Short-term letting not available on a Golden Visa purchase
Opportunities
- The Ellinikon's phased delivery spreading value to Glyfada, Voula and Alimos, with Kato Elliniko immediately beside it
- Long-term capital growth as the regeneration matures
- G5: the only available two-bedroom home at 5,982 €/m² net, about 20% below the one-bedroom average
- The furnished product answers corporate and long-stay tenant demand directly
- Limited supply of new, furnished homes with shared amenities on the Riviera
Threats
- A delay in issuing the building licence pushing delivery out
- Changes to the Golden Visa framework or to change-of-use rules before the residence-permit application
- The direction of tax and regulatory measures affecting foreign buyers; current confirmation required before purchase
- Simultaneous new supply around The Ellinikon creating short-term rental pressure
- Changes in rental income taxation and service charge burdens
- The effect of interest rate and currency conditions on buyer demand
09Investment view
Investment View: Positive — Location and Golden Visa · Subject to Licence
A0220 is a strong product for an investor seeking a Golden Visa route and a turnkey home in one of the most transformed locations on the Athens Riviera. The scheme rests on furnished one- and two-bedroom homes with a pool and a rooftop lounge, directly beside The Ellinikon and a few minutes from the beach. The profile is long-term: capital growth from The Ellinikon's delivery carries more weight than running yield.
Location Premium
The Ellinikon, the coastline, metro Line 2 and Vouliagmenis Avenue meet in the same micro-location. The regeneration's spill-over to Glyfada, Voula and Alimos supports value over the long term.
Turnkey with Amenities
Fully furnished delivery, a pool, a roof garden and a rooftop lounge shorten the time to letting; the three-year management programme supports hands-off ownership.
Golden Visa Route
Classified by the developer under the €250,000 change-of-use route; every available unit is priced from €300,000. Eligibility is confirmed per unit by our lawyer before signing.