Feasibility report
Ano Glyfada Boutique Residences
This report examines the nine-home boutique new-build scheme in Ano Glyfada at unit level: the complete inventory, a reading of the pricing, build and energy specification, indicative rent and yield, ownership and delivery terms, and a risk assessment.
01Executive summary
A0311 is a nine-home boutique new-build scheme in Ano Glyfada, a quiet residential quarter of the Athens Riviera, arranged over five residential levels. Each of the first three floors holds a two-bedroom and a one-bedroom apartment, and the top two levels hold three two-level maisonettes. The two apartments on a floor can also be combined into a single full-floor three-bedroom home of about 124 m².
Three factors define the investment case. The first is the address: Glyfada is one of the most sought-after districts on the southern coast of Athens, and Ano Glyfada is its calm, family-oriented residential layer. The second is the product: energy class A+, heat-pump heating and cooling, Grohe sanitary ware and European kitchens deliver a ready-to-use home at handover. The third is full parking: a private parking space is included with all nine homes, a direct pricing advantage in the Glyfada rental market.
Against that, the report records two points from the outset: the one-bedroom apartments (x.2) have no storage room — storage comes with six of the nine homes — and net prices sit at €6,213 – €7,122 per m², reflecting the Riviera premium and keeping gross yields measured.
- Reference
- A0311 · Ano Glyfada · Athens Riviera
- Building type
- New build · single building · five residential levels
- Inventory
- 9 residences — 3 two-bedroom apartments, 3 one-bedroom apartments, 3 two-level maisonettes
- Availability
- 9 available (no status column in the brochure; subject to confirmation)
- Net interior area
- 49.00 – 82.50 m²
- Total area
- 62.00 – 112.60 m² (including balconies and exclusive-use areas)
- Outdoor space
- Balconies 13 – 25 m² · maisonettes 18.5 – 32.6 m² of balconies and exclusive-use terraces
- Price range
- €305,000 – €541,000 (list, 28.09.2026)
- €/m² net
- 6,213 – 7,122 · scheme average 6,470
- Energy and systems
- Energy class A+ · heat-pump heating and cooling
- Specification
- European fitted kitchens · Grohe sanitary ware and fittings
- Views
- Maisonettes with sea views · third-floor apartments with partial sea views
- Parking
- Included with all 9 homes
- Storage
- With 6 of the 9 homes (none in the one-bedroom apartments)
- Delivery
- Q2 2028
- Area tolerance
- ±3%
02Scheme overview
Layout and Concept
The scheme is a single building in Ano Glyfada, the quiet residential area above the coastal centre of Glyfada. The architectural language is contemporary and light: white-rendered volumes, deep planted balconies and a perforated screen façade wrapping the stair core. The ground floor is set on pilotis for parking; the homes occupy five levels above, served by a lift. The neighbourhood is close to schools, parks and local shops, while the centre of Glyfada, its beaches and the seaside promenade are a short drive away.
Distribution by Level
| Levels | Apartments | Maisonettes | Total units | Net area band | Price band | €/m² avg. |
|---|---|---|---|---|---|---|
| Floors 1 – 3 | 6 | 0 | 6 | 49.00 – 75.00 m² | €305,000 – €483,000 | 6,419 |
| Floors 4 – 5 | 0 | 3 | 3 | 59.50 – 82.50 m² | €390,000 – €541,000 | 6,554 |
| Scheme total | 6 | 3 | 9 | 49.00 – 82.50 m² | €305,000 – €541,000 | 6,470 |
Floor Arrangement
- First, second and third floors. Two apartments per floor: a two-bedroom unit (x.1) of about 75 m² net with a 25 m² balcony, and a one-bedroom unit (x.2) of about 49 m² net with a 13 m² balcony. The third-floor apartments enjoy partial sea views.
- Full-floor option. Units x.1 and x.2 on the same floor can be combined into a single three-bedroom, two-bathroom home of 124 m² net and 162 m² in total; the brochure includes a separate plan for this layout.
- Fourth and fifth floors. Three two-level maisonettes (M1, M2, M3), all with sea views and two bathrooms. Outdoor space combines balconies and exclusive-use terraces; M2, at 32.6 m², has the largest outdoor area in the scheme.
03Unit mix and pricing
The tables below contain all nine homes in the developer's brochure. Prices are list prices dated 28.09.2026; as the brochure carries no status column, all units are treated as available, subject to confirmation.
Apartments — First, Second and Third Floors
| Unit | Floor | Net m² | Total m² | List price | €/m² net | Status |
|---|---|---|---|---|---|---|
| 1.1 | 1st floor | 75.00 | 100.00 | €466,000 | 6,213 | Available |
| 1.2 | 1st floor | 49.00 | 62.00 | €305,000 | 6,224 | Available |
| 2.1 | 2nd floor | 75.00 | 100.00 | €475,000 | 6,333 | Available |
| 2.2 | 2nd floor | 49.00 | 62.00 | €310,000 | 6,327 | Available |
| 3.1 | 3rd floor | 75.00 | 100.00 | €483,000 | 6,440 | Available |
| 3.2 | 3rd floor | 49.00 | 62.00 | €349,000 | 7,122 | Available |
| Apartments (6) | 49.00 – 75.00 | €305,000 – €483,000 | 6,419 | |||
Maisonettes — Fourth and Fifth Floors
| Unit | Floor | Net m² | Total m² | List price | €/m² net | Status |
|---|---|---|---|---|---|---|
| M1 | 4th – 5th | 82.50 | 101.00 | €541,000 | 6,558 | Available |
| M2 | 4th – 5th | 80.00 | 112.60 | €524,000 | 6,550 | Available |
| M3 | 4th – 5th | 59.50 | 78.70 | €390,000 | 6,555 | Available |
| Maisonettes (3) | 59.50 – 82.50 | €390,000 – €541,000 | 6,554 | |||
Full-Floor Option
The brochure also prices the full-floor option created by combining the two apartments on a floor. This is not a separate unit; its price equals the sum of the two apartments.
| Option | Floor | Net m² | Total m² | List price | €/m² net | Status |
|---|---|---|---|---|---|---|
| 1.1 + 1.2 | 1st floor | 124.00 | 162.00 | €771,000 | 6,218 | Available |
| 2.1 + 2.2 | 2nd floor | 124.00 | 162.00 | €785,000 | 6,331 | Available |
| 3.1 + 3.2 | 3rd floor | 124.00 | 162.00 | €832,000 | 6,710 | Available |
Reading the Pricing
- The floor premium on the two-bedroom units is moderate. 1.1 €466,000 → 2.1 €475,000 → 3.1 €483,000: roughly €8,000 – €9,000 per floor, or 1.7 – 1.9%. The lower floors are an efficient entry to the same plan.
- The view premium is clear on 3.2. Among the one-bedroom units, 1.2 is €305,000 and 2.2 €310,000, while 3.2 is €349,000; the partial sea view produces a jump of about 12.6% on the small unit and takes 3.2 to €7,122 per m², the highest net rate in the scheme.
- There is no small-unit premium. On the first and second floors the one- and two-bedroom apartments carry almost the same net rate (6,213 – 6,333). The small unit lowers the ticket without raising the cost per m².
- The maisonettes are priced consistently. All three sit at 6,550 – 6,558 per m² net; pricing follows interior area. M2 is €17,000 cheaper than M1 yet has 14.1 m² more outdoor space — clear value for a buyer who prioritises terraces.
- The full-floor option carries no discount. Its price is the sum of the two apartments; combining them gains living space and a second bathroom, not a volume discount.
04Build quality and energy
Energy Performance
The scheme is designed to energy class A+, with heating and cooling by heat pump. Together these create a measurable operating-cost advantage over the older buildings that make up most of the Athens housing stock. The rental effect is direct: tenants decide on the sum of monthly rent and energy bills, and a unit with a low utility burden competes better on headline rent.
Specification
- Kitchen. European fitted kitchens — ready for use at handover, with no further outlay needed before letting.
- Bathrooms. Grohe sanitary ware and fittings. The maisonettes and the full-floor option have two bathrooms; the one- and two-bedroom apartments have one.
- Heating and cooling. A heat-pump system covering both functions; no separate air-conditioning investment is required.
- Outdoor space. Balconies of 13 – 25 m² on the apartments; balconies and exclusive-use terraces of 18.5 – 32.6 m² on the maisonettes.
Parking and Storage — An Honest Reading
| Item | Position | What it means for the investor |
|---|---|---|
| Parking | Included with all 9 homes | Car ownership among tenants and buyers in Glyfada is high; parking with every unit is a direct advantage for rental pricing and resale. |
| Storage | With 6 of 9 homes; none in the one-bedroom units (1.2, 2.2, 3.2) | Storage comes with the two-bedroom apartments and the maisonettes. In the one-bedroom units, storage needs are met with in-unit solutions (built-in and balcony cupboards). |
| Area tolerance | ±3% | On a 49 m² net unit this means a variance of about ±1.5 m². The contract should be checked for a tolerance clause and a price-adjustment mechanism. |
05Indicative rent and gross yield
The rent figures in this section are indicative assumptions. They are not a precise market measurement and do not rest on a cited index; their purpose is to give the investor an order of magnitude. The final calculation for each unit should be built with current, local rental evidence.
Typical Unit Calculation
The calculation uses two units: 1.2, the scheme's lowest entry ticket, and 2.1, the mid-floor standard two-bedroom plan.
| Item | 1.2 | 2.1 |
|---|---|---|
| Net interior area | 49.00 m² | 75.00 m² |
| Outdoor area (balcony) | 13.00 m² | 25.00 m² |
| List price | €305,000 | €475,000 |
| €/m² net | 6,224 | 6,333 |
| Approximate total incl. acquisition costs (≈ 8%) | ≈ €329,400 | ≈ €513,000 |
| Indicative monthly rent | €850 – €1,050 | €1,200 – €1,500 |
| Indicative annual gross rent | €10,200 – €12,600 | €14,400 – €18,000 |
| Gross yield — on list price | 3.3% – 4.1% | 3.0% – 3.8% |
| Gross yield — on cost incl. acquisition costs | 3.1% – 3.8% | 2.8% – 3.5% |
| Indicative net yield (after operating costs) | 2.4% – 3.0% | 2.2% – 2.7% |
Commentary
The figures sit within the band expected in the established districts of the Athens Riviera. Because the Riviera address lifts the price per m², gross yields are more measured than in some central or port-side neighbourhoods; in return the tenant profile is strong, vacancy risk is low and value retention is high. The small one-bedroom units lead on yield, while the sea-view maisonettes lead on capital value and resale liquidity.
On rental guarantees: the developer's brochure does not include a rental guarantee.
06Acquisition costs
The rates below are approximate bands generally applied to residential purchases in Greece. Final amounts vary with the structure of the transaction, the title value and the service providers chosen; each should be confirmed against current legislation and on a transaction basis before purchase.
| Item | Approximate rate | Note |
|---|---|---|
| Transfer tax (φόρος μεταβίβασης) | ~3.1% | Whether VAT applies to new builds depends on the regulation in force and should be confirmed before purchase. |
| Notary | ~1.0 – 1.5% | Tiered tariff linked to the contract amount. |
| Lawyer | ~1.0 – 1.5% | Including title review and transaction follow-up. |
| Land registry / cadastre (Κτηματολόγιο) | ~0.5 – 0.7% | Registration fees and charges. |
| Agency fee | ~2% + VAT | Market standard. |
| Total acquisition costs (approximate) | ~7 – 9% | 8% is assumed in the calculations. |
Pre-Transaction Requirements
- Tax number (ΑΦΜ). A precondition for acquiring property in Greece; it can also be obtained by power of attorney.
- Bank account. Payments should be made through the banking system with a documented source of funds.
- Legal and technical review. Title history, zoning status, permits and unit definitions; for a new build, also the building permit and the horizontal-property set-up.
- Annual charges. Property tax (ΕΝΦΙΑ), service charge, insurance and tax on rental income form part of the operating costs.
07Payment, ownership and delivery
Ownership Structure
Residential ownership in Greece is freehold; there is no leasehold regime. In multi-unit buildings each home is defined as a separate unit under οριζόντια ιδιοκτησία (horizontal property), with an attached share of the land. The buyer holds full ownership of the unit and rights over the common areas in proportion to that share. Exclusive-use rights over the maisonette terraces are defined within the same set-up.
Delivery and Timing
- Planned delivery: second quarter of 2028.
- Grace period: not stated in the brochure; the grace period and delay penalties to be defined in the contract should be confirmed.
- Capital lock-up: more than about eighteen months separate the date of this report from delivery. Capital generates no rent over that period; yield calculations should allow for it.
- Area tolerance: ±3%. The contract should provide a price-adjustment mechanism if the tolerance is exceeded.
Payment Schedule
No standard instalment schedule has been shared for the scheme at the date of this report. For projects under construction, payment is usually structured as a preliminary agreement followed by instalments linked to construction progress; the definitive plan is set per unit in the contract. It is recommended to obtain the payment schedule in writing at offer stage and to tie instalments to evidence of construction progress.
Pre-Contract Checklist
1. Legal character of the parking space and the unit it is allocated to · 2. Registration of exclusive-use rights over the maisonette terraces · 3. Area tolerance and price-adjustment clause · 4. Delivery date, grace period and delay penalties · 5. Instalments tied to construction progress · 6. If the full-floor option is chosen, the plan and title set-up of the combination · 7. Estimated common-area service charge and management plan · 8. Energy performance certificate and warranty cover at handover.
08Swot
Strengths
- Athens Riviera address: Ano Glyfada, the calm, family-oriented residential layer of Glyfada
- Energy class A+ with heat pumps: low utility bills for tenants, low maintenance for owners
- Private parking with all 9 homes — a direct pricing advantage in Glyfada
- Sea views from the maisonettes, partial sea views on the third floor
- Boutique scale: 9 homes, low common-area density
- Ready-to-use specification: European fitted kitchens, Grohe bathrooms
- Flexible product: two apartments can be combined into a 124 m² full-floor three-bedroom home
Weaknesses
- No storage room in the one-bedroom apartments (x.2)
- One bathroom in the one- and two-bedroom apartments
- Net prices of 6,213 – 7,122 per m²; the Riviera premium keeps gross yields measured
- More than about eighteen months to delivery — capital earns no return in the meantime
- Indicative net yield band is measured (2.2% – 3.0%)
- No payment schedule or delivery grace period defined in the brochure
Opportunities
- Potential effect of the Ellinikon waterfront regeneration on value and demand in the surrounding districts
- Moderate floor premium (~€8,000 – €9,000 per floor on two-bedroom units): lower floors are an efficient entry
- M2 offers more outdoor space than M1 at a lower price
- Limited new, energy-efficient stock on the Riviera — a competitive edge at handover
- Family tenant demand: schools and parks nearby support longer tenancies
Threats
- Risk of delivery delay
- Direction of tax and regulatory measures affecting foreign buyers; current confirmation required before purchase
- Construction cost inflation feeding through as price revisions or reduced scope
- Simultaneous delivery of other new schemes on the Riviera creating short-term rental pressure
- Changes to rental income taxation and service charges
- Effect of interest and exchange rates on buyer demand
09Investment view
Investment View: Positive — Address-Led · Value Retention
A0311 is a coherent product for an investor seeking a small-scale, well-specified new home at a lasting address on the Athens Riviera. The scheme is built not on an ambitious yield promise but on the right product at the right address: nine homes in a quiet part of Glyfada, energy class A+, parking with every unit and sea views on the upper floors. Pricing is consistent unit by unit, and the maisonette €/m² band is tight.
Address and Value
Glyfada is one of the most liquid residential markets in Athens. A boutique new build in Ano Glyfada appeals to a broad buyer base on resale.
Rental Resilience
Family and professional tenant demand runs year-round; schools, parks and the coast nearby support longer tenancies. Parking is included with every unit.
Operating Profile
Energy class A+ and heat pumps reduce the tenant's total cost of occupation; the ready-for-use specification removes the need for further outlay before letting.