Prices Along the Attica Coastline Reach New Heights, Particularly in Vouliagmeni, Known as “the Jewel of the Athenian Riviera”
A notable instance of this trend is the recent sale of a luxury penthouse maisonette in the Serenity Living project, which fetched an astounding 40,000 euros per square meter. It’s not clear whether the buyer was a Greek or foreign investor.
This luxury property transaction illustrates that there seems to be no ceiling on prices for upscale homes along the Athenian Riviera.
Earlier this year, “N” reported the sale of a 285 sq m residence in Vouliagmeni for 33,000 euros per sq m, totaling approximately 9.6 million euros—close to 10 million with parking and storage.
These figures highlight the Athenian Riviera as one of Europe’s most vibrant luxury real estate markets, drawing affluent buyers from across the globe. According to Corina Saias, CEO of Premier Realty Greece, each locale caters to distinct profiles of high-end purchasers.
Specifically, Vouliagmeni attracts High-Net-Worth Individuals (HNWI) from the US, UAE, and Northern Europe, who seek beachfront villas with private access, concierge services, and proximity to the Asteras Marina and Four Seasons Hotel.
Buyers Value Privacy and Discretion
Meanwhile, Glyfada has emerged as a luxury living destination for wealthy professionals, digital entrepreneurs, and second-home buyers.
Voula offers a blend of seaside opulence with a quieter, residential atmosphere, appealing mainly to affluent families from the Greek Diaspora (USA, Australia, Canada) returning for long-term residency or retirement.
Hellinikon, with the innovative smart city project by Lamda, attracts tech-savvy investors primarily from Israel, China, and Germany. Further south, Varkiza and Sounio entice high-profile retirees and sea enthusiasts seeking tranquility and privacy.
Foreign Investment Driving Price Increases
According to the Bank of Greece, foreign investors have poured 5 billion euros into Greek real estate over the past two years, primarily in residential properties. The soaring demand, especially for high-end housing, has propelled prices to unprecedented levels.
Foreign investments in Greek real estate, whether through the Golden Visa program or otherwise, surged almost 30% in 2024 compared to 2023.
A report from the Bank of Greece governor indicates that in 2024, net foreign purchases of real estate reached 2.75 billion euros, up from 2.133 billion euros in 2023. Thus, in just two years, foreign capital investments in the Greek property market have totaled 4.9 billion euros.
