Feasibility report
Piraeus A+ One-Bedroom New Build
This report reviews an eight-home boutique new building in a quiet residential part of Piraeus and the last available apartment in it: the full inventory, a pricing reading, construction and energy specification, indicative rent and yield, ownership and delivery terms, and a risk assessment.
01Executive summary
A0315 is a six-level boutique new building on a corner plot in a quiet, low-density residential part of Piraeus. It holds only eight homes: six one-bedroom apartments and two one-bedroom maisonettes. Seven of the eight homes have been sold; apartment 2.1, the subject of this report, is the last available unit in the building.
The apartment is on the 2nd floor, with about 49.70 m² of internal space and an 18.00 m² balcony (67.70 m² in total). The list price is €260,000. The report records two points up front: this apartment has no parking space and no storage room is assigned. On the other hand, a metro station is about 400 m away and the port about 900 m — for a one-bedroom without parking, this location is the decisive advantage on the rental side.
- Reference
- A0315 · Piraeus · Athens
- Building type
- New build · single building · ground + 5 floors
- Inventory
- 8 homes — 6 one-bedroom apartments, 2 one-bedroom maisonettes
- Availability
- 1 available (2.1) · 7 sold
- Available home
- 2nd floor · 1 bedroom · 1 bathroom
- Net internal area
- 49.70 m²
- Total area
- 67.70 m² (including an 18.00 m² balcony)
- List price
- €260,000 (developer list, 28.09.2026)
- €/m² net
- 5,231 · 3,840 on total area
- Energy and systems
- Energy class A+ · heat pump · rooftop photovoltaics
- Specification
- European fitted kitchen · Grohe sanitary ware · EV charging sockets
- Parking
- None for 2.1
- Storage
- Not assigned
- Delivery
- Q4 2026
- Area tolerance
- ±3%
02Project overview
Setting and Layout
The building sits on a corner plot within a quiet residential fabric of Piraeus. The architecture is contemporary and restrained: white rendered volumes, deep balconies with glass balustrades and planted terraces. With only a few units per floor, the building offers a calm, boutique-scale shared life. Two parking spaces are located on the ground floor.
Building Breakdown
| Building | Apartments | Maisonettes | Total units | Net area range | Price | €/m² net |
|---|---|---|---|---|---|---|
| Single building | 6 | 2 | 8 | 47.70 – 51.70 m² | €260,000 (2.1) | 5,231 |
| Project total | 6 | 2 | 8 | 47.70 – 51.70 m² | 1 available | 5,231 |
Floor Layout
- Ground floor. One apartment (I.1) — 48.70 m² internal and 27.00 m² of exclusive-use outdoor space; plus two parking spaces.
- Floors 1–4. On each floor one standard one-bedroom apartment (49.70 m² + 18.00 m² balcony) and a two-level maisonette arrangement: M1 on floors 1–2, M2 on floors 3–4 (each 28.00 + 19.70 = 47.70 m² internal, 11.00 m² balcony).
- 5th floor. One apartment (5.1) — 51.70 m² internal and 45.00 m² outdoor; marked, together with 4.1, as having a partial sea view.
- Available apartment. 2.1 is the standard plan type on the 2nd floor: open-plan living and kitchen opening onto the front balcony, one bedroom and one bathroom.
03Unit mix and pricing
The table below covers all 8 rows of the developer's unit table. A price is listed only for the available unit; statuses follow the list dated 28.09.2026 and are subject to confirmation.
All Units
| Unit | Floor · Type | Net m² | Total m² | List Price | €/m² net | Status |
|---|---|---|---|---|---|---|
| I.1 | Ground · Apartment | 48.70 | 75.70 | — | — | Sold |
| 1.1 | 1st floor · Apartment | 49.70 | 67.70 | — | — | Sold |
| M1 | 1st–2nd floor · Maisonette | 47.70 | 58.70 | — | — | Sold |
| 2.1 | 2nd floor · Apartment | 49.70 | 67.70 | €260,000 | 5,231 | Available |
| 3.1 | 3rd floor · Apartment | 49.70 | 67.70 | — | — | Sold |
| M2 | 3rd–4th floor · Maisonette | 47.70 | 58.70 | — | — | Sold |
| 4.1 | 4th floor · Apartment | 49.70 | 67.70 | — | — | Sold |
| 5.1 | 5th floor · Apartment | 51.70 | 96.70 | — | — | Sold |
| Total (8) | 47.70 – 51.70 | €260,000 | 5,231 | 1 available | ||
Pricing Reading
- Fast absorption. Seven of the eight homes were sold before delivery, showing that the product type (new build, near the metro, compact one-bedroom) meets strong buyer demand in the area.
- Price per net m². For 2.1, €/m² is 5,231 on net internal area and 3,840 on total area including the balcony. The 18 m² balcony adds outdoor living space equal to about a third of the internal area.
- Limited comparison. As prices of sold units were not shared, a floor premium within the building cannot be measured; the pricing reading is based on a single unit.
- No parking should be read into the price. 2.1 does not include a parking space — a factor to weigh both at entry and on resale.
04Build quality and energy
Energy Performance
The building is designed for energy class A+; heating and cooling are provided by a heat pump and photovoltaic panels are installed on the roof. Together these create a measurable running-cost advantage over the older buildings that make up most of the Piraeus housing stock. Tenants decide on rent plus energy bills; a unit with a low energy bill gains competitiveness on nominal rent.
Specification
- Kitchen. European fitted kitchen — ready to use on delivery.
- Bathroom. Grohe sanitary ware and fittings; one bathroom.
- Heating and cooling. Heat pump system — one system for both functions.
- Electric vehicles. EV charging sockets in the building.
- Outdoor. 18.00 m² front balcony at 2.1.
Parking and Storage — A Frank Reading
| Item | Status | What it means for the investor |
|---|---|---|
| Parking | None for 2.1 | The two parking spaces in the building belong to the maisonettes. With a metro station about 400 m away, the disadvantage for a one-bedroom without parking is largely offset on the tenant side. |
| Storage | Not assigned | Storage demand is high in compact apartments; built-in wardrobe solutions partly compensate. |
| Area tolerance | ±3% | For a 49.70 m² net unit this means a deviation of about ±1.49 m². Check the tolerance clause and the price-adjustment mechanism. |
05Indicative rent and gross yield
Rental values in this section are indicative assumptions. They are not a precise market measurement and do not rely on a cited index; their purpose is to show the order of magnitude. The final calculation should be built with current, local rental evidence.
Typical Unit Calculation
The calculation is based on 2.1, the only available unit in the building.
| Item | 2.1 |
|---|---|
| Net internal area | 49.70 m² |
| Outdoor area (balcony) | 18.00 m² |
| List price | €260,000 |
| €/m² net | 5,231 |
| Approximate total incl. acquisition costs (≈ 8%) | ≈ €280,800 |
| Indicative monthly rent | €700 – €850 |
| Indicative annual gross rent | €8,400 – €10,200 |
| Gross yield — on list price | 3.2% – 3.9% |
| Gross yield — on cost incl. acquisition costs | 3.0% – 3.6% |
| Indicative net yield (after operating costs) | 2.3% – 2.8% |
Commentary
Piraeus is an urban centre whose port, university and hospitals generate year-round tenant demand. A new one-bedroom within walking distance of the metro and the port speaks directly to single and couple tenants. With delivery planned for Q4 2026, capital starts producing rent within a short time.
On rental guarantees: the developer's documentation does not include a rental guarantee.
06Acquisition costs
The rates below are approximate bands generally applied to residential purchases in Greece. Final amounts depend on the structure of the transaction, the title value and the chosen service providers; they should be confirmed against current legislation for each purchase.
| Item | Approx. rate | Note |
|---|---|---|
| Transfer tax (φόρος μεταβίβασης) | ~3.1% | Whether VAT applies to new builds depends on the regulation in force and must be confirmed before purchase. |
| Notary | ~1.0 – 1.5% | Tiered scale based on contract value. |
| Lawyer | ~1.0 – 1.5% | Including title review and transaction handling. |
| Land registry / cadastre (Κτηματολόγιο) | ~0.5 – 0.7% | Registration fees and costs. |
| Brokerage service fee | ~2% + VAT | Market standard. |
| Total acquisition costs (approx.) | ~7 – 9% | 8% assumed in the calculations. |
Pre-Transaction Requirements
- Tax number (ΑΦΜ). A prerequisite for acquiring property in Greece; it can 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 due diligence. Title history, zoning, permits and unit definitions; for new builds also the building permit and the horizontal property set-up.
- Annual charges. Property tax (ΕΝΦΙΑ), service charge, insurance and tax on rental income are part of operating costs.
07Payment, ownership and delivery
Ownership Structure
Residential ownership in Greece is freehold; there is no leasehold system. In multi-unit buildings each unit is defined as an independent property under οριζόντια ιδιοκτησία (horizontal property), with a share of the land attached. The buyer holds full ownership of the unit and rights in the common areas in proportion to the land share.
Delivery and Timing
- Planned delivery: Q4 2026.
- Capital lock-up: Only a few months remain from the report date to delivery; capital can start producing rent within a short time.
- Area tolerance: ±3%. Look for a price-adjustment mechanism in case the tolerance is exceeded.
Payment Plan
No standard instalment schedule has been shared for the unit as of the report date. For projects close to delivery, payment is usually structured in tranches closing at the preliminary agreement and at title transfer; the exact plan is set per unit. We recommend obtaining the payment schedule in writing at offer stage.
Pre-Contract Checklist
1. Confirmation in the unit definition that no parking or storage is included · 2. Area tolerance and price-adjustment clause · 3. Delivery date and remedies in case of delay · 4. Matching payment tranches to title transfer and delivery · 5. Estimated service charge and management plan · 6. A+ energy performance certificate and warranty cover at delivery · 7. Allocation of the photovoltaic contribution to common charges.
08Swot
Strengths
- Metro station ~400 m, port ~900 m, hospital ~350 m, school ~300 m
- Energy class A+, heat pump and rooftop photovoltaics: low energy bills
- Boutique building of eight homes — calm shared life
- 18 m² balcony: outdoor space equal to about a third of the internal area
- Ready-to-use specification on delivery: European fitted kitchen, Grohe bathroom
- Delivery Q4 2026 — short capital lock-up
- 7 of 8 sold: proven buyer demand for the product type
Weaknesses
- No parking space with the apartment
- No storage room assigned
- One bedroom and one bathroom — does not serve family demand
- Prices of sold units not shared, so no in-building comparison is possible
- Moderate indicative net yield band (2.3% – 2.8%)
Opportunities
- Year-round tenant demand driven by the port, university and hospitals of Piraeus
- Thin supply of new, high-energy-class compact apartments in the area
- Tenant preference for energy-efficient stock may support pricing power at delivery
- Effect of urban regeneration along the port and waterfront on the area's profile
Threats
- Risk of delivery delay
- Evolution of tax and regulatory rules for foreign buyers; current confirmation required before purchase
- Changes in rental income taxation and service charges
- Effect of interest and exchange rates on buyer demand
09Investment verdict
Investment Verdict: Positive — Rental-Focused · Entry Segment
A0315 is a coherent product for an investor looking for a new one-bedroom within walking distance of the metro and the port in Piraeus that will start producing rent within a short time. Seven of the building's eight units selling before delivery shows demand for the product type. The absence of parking and storage should be read into the price; the location's transport advantage largely offsets it on the tenant side.
Location
Metro ~400 m, port ~900 m, hospital ~350 m: a complete daily-life setting for a tenant living without a car.
Rental Resilience
Demand driven by the port, university and hospitals creates a stable tenant base looking specifically for one-bedroom homes.
Operating Profile
Energy class A+, heat pump and photovoltaics lower the tenant's total housing cost; ready-to-use specification needs no further investment on delivery.