Many Israelis are considering investing in real estate in Athens, a city that combines a rich history with impressive urban renewal projects. We have compiled a list of the top areas for investment, including neighborhoods in the city center and the outskirts, which offer high returns and excellent accessibility. Among other things, there are upcoming national projects, such as the Hellenikon project and transportation initiatives, which are expected to transform the city and attract investors from around the world.
In recent years, Athens has established itself as a preferred destination for real estate investors from around the world, thanks to extensive urban renewal projects, significant government investments, and positive forecasts for rising property prices. The city, which combines a rich history with a vibrant cultural scene and future projects, offers a wide range of areas with high investment potential, from revitalized centers to developing neighborhoods. This report reviews the most promising areas for investment in Athens, within the Greek real estate investment landscape, based on current data and market forecasts.
The most profitable neighborhoods: Yields over 7%
Areas at the forefront of Athens’ real estate boom offer exceptionally high returns and are attracting investors seeking quick profits.
Ano Dafni and Amerikis Square are currently the most profitable areas in the city, with an impressive yield of 7.1%. These neighborhoods, characterized by urban density and easy access to central Athens, are experiencing growing demand for rentals, particularly among young people, students, and digital nomads. Growing interest from the authorities and investments in infrastructure and urban projects are contributing to a steady rise in property prices in the area.
A Gem in the Revitalized Suburbs: Improved Accessibility and Infrastructure
Even in the outskirts of Athens, there are areas that offer significant investment potential thanks to urban renewal projects and improvements to public transportation.
Polytechneio, Aigaleo, and Korydallos are prime examples of this. These neighborhoods, located in the city’s suburbs, enjoy easy access to major metro lines and revitalized infrastructure. They attract investors thanks to high yields ranging from 6.5% to 7%. In addition, the revitalization efforts in these areas also encourage commercial activity alongside residential development, strengthening the stability of the local market.
Interactive chart: Hover over each sector to view the full data and exact percentages.
Stability and Moderate Growth: A Safe Investment in the Heart of the City
Kypseli, Peristeri, Paradisos Marousi, and Kato Chalandri offer a stable real estate market with moderate but consistent growth potential. These neighborhoods are characterized by growing demand for new apartments and rentals, and benefit from ongoing infrastructure improvements, the development of recreational areas, and an increase in the local population. Forecasts for these areas indicate a continued moderate but stable rise in prices.
Popular Central Regions: Culture, Tourism, and Peak Demand
Exarchia (Exarchia), Pangrati (Pangrati) andKoukaki (Koukaki), are experiencing peak demand for residential real estate investments. Their central location, vibrant cultural scene, and easy access to public transportation make them particularly attractive to young people, artists, and tourists. High demand for both short- and long-term rentals, driven by growing tourism, is leading to high rental yields and rising property values. These areas are undergoing renovation and upgrading of older buildings, and there is an ongoing effort to improve local infrastructure, which is expected to contribute to a 5%–8% increase in real estate prices by 2025.
National Projects: Future Engines of Growth
Real estate investment in Athens is heavily influenced by large-scale national projects that are transforming the city and attracting foreign investors.
The Ellinikon Project – The City of the Future on the Athens Riviera
Hellenikon is one of Europe’s largest urban regeneration projects, covering an area of approximately 6.2 square kilometers on the site of the former Athens International Airport. With a total investment of approximately €8 billion, the project aims to transform the southern waterfront into a global hub for tourism, residential living, and leisure.
Key features of the project include: Approximately 8,000 residential units, including beachfront villas, innovative residential buildings, and Greece’s tallest residential tower, “Marina Tower,” featuring sustainable architectural design, luxury hotels, large shopping centers, one of Europe’s most advanced casinos, and entertainment complexes that will transform tourism in Athens, an unprecedented expanse of green space that will incorporate bike paths, cultural areas, sports facilities, and artificial lakes.
In terms of economic impact, the project is expected to attract millions of tourists each year and create tens of thousands of jobs in construction, tourism, commerce, and services. Real estate prices in the coastal area have already risen by about 30%–40% since work began, and are expected to continue rising as the project progresses.
Interactive chart: Hover over each sector to see the full data and exact percentages
Metro Line 4 – A Transportation Booster and a Boost to Property Values
The Orange Line is expected to transform Athens’ transportation network when it becomes fully operational in 2029. The line, which will include 15 new stations, will connect the city’s major residential, commercial, and cultural hubs, significantly reducing travel times.
In terms of the impact on the real estate market, properties located near stations are expected to see a 20%–25% increase in value over the next few years. Areas that were previously considered relatively remote will become more accessible, encouraging new investments from developers and private investors. The route is expected to create new employment hubs around major stations, similar to trends in leading European cities.
The project proposes a dramatic transformation of urban spaces in Athens. An old, neglected industrial site is being transformed into a green, multifunctional complex featuring a spacious park, new infrastructure, and a modern soccer field that will serve as the home of the Panathinaikos team.
Among the key benefits – Significant infrastructure upgrades: roads, public transportation, lighting, and sewage systems—which are expected to raise the standard of living in the area; a connection between nature and the city: creating a green space in a dense urban center, which is expected to increase land values and attract a young population; and a trend toward “sustainable urbanism”: similar to other European cities, the area is expected to serve as a hub for cultural, recreational, and sports activities.
Votanikos Park – A Green Transformation in West Athens
The project proposes a dramatic transformation of urban spaces in Athens. An old, neglected industrial site is being transformed into a green, multifunctional complex featuring a spacious park, new infrastructure, and a modern soccer field that will serve as the home of the Panathinaikos team.
Among the key benefits – Significant infrastructure upgrades: roads, public transportation, lighting, and sewage systems—which are expected to raise the standard of living in the area; a connection between nature and the city: creating a green space in a dense urban center, which is expected to increase land values and attract a young population; and a trend toward “sustainable urbanism”: similar to other European cities, the area is expected to serve as a hub for cultural, recreational, and sports activities.
Summary and Conclusions
Given the high prices in Israel and the fact that apartment prices in Greece is particularly attractive, real estate investment in Athens is currently supported by a combination of factors: planned urban projects, government investments, and ongoing infrastructure improvements. Positive market trends are reflected in forecasts of a 5–7% increase in property prices by 2025, with growth expected to continue through 2028. The growing influx of foreign investment (over €3 billion in 2024 alone) attests to the rising popularity of the Athens market. In summary, the areas mentioned, which combine significant projects and infrastructure upgrades, offer excellent opportunities for future growth in real estate prices and rental yields in the city.
Interactive chart: Hover over each sector to view the full data and exact percentages.
The information contained in this document is intended for general purposes only and does not constitute legal, regulatory, financial, or tax advice. The authors make no representation that the information is accurate, complete, or up-to-date, and assume no liability whatsoever for reliance on it. Before taking any action, it is recommended that you consult with an attorney or a qualified professional advisor. Nothing herein constitutes an offer or recommendation to make any investment, and any action taken is solely at the reader’s own risk.
