Introduction
Timing is everything for investing purposes. Glyfada an area located on the Athenian Riviera near Athens, is not only a beautiful and lively suburb but also a prime spot for real estate investment. It is very close to The Hellinikon project, a ground breaking redevelopment in the old disused airport. In completion we will see the formation of a fantastic new micro city, the biggest project in southern Europe. Not only will it create homes for 10,000 people, the new facilities will be unmatched.
This development is expected to increase the value of nearby properties, including those in Glyfada. For investors home seekers alike looking to buy, now is a perfect time to consider buying in Glyfada.
Exciting Developments Nearby The Hellinikon Project: A Catalyst for Growth
The Hellinikon project, set on the site of the old Athens airport, is one of the most ambitious urban redevelopment projects in Europe. The project encompasses a vast area and is designed to include luxury residences, shopping centres, recreational facilities, and parks. This development is not just reshaping the physical landscape but is also expected to have a profound impact on the local economy by attracting new businesses and boosting tourism.
For Glyfada, the proximity to such a significant development means enhanced infrastructure, increased demand for housing, and a general uplift in the area’s economic profile. The project is expected to create thousands of jobs and attract further investments, increasing the desirability of properties in nearby areas.
In the heart of this transformation is Little Athens, a vibrant new district that offers contemporary homes and apartments. These properties are designed by both acclaimed local and global architects, ensuring a modern aesthetic and high-quality living. The district is complemented by The Ellinikon Park and close beach access, fostering a dynamic community atmosphere. The area is rich with shopping, dining, and wellness options, catering to a variety of lifestyles and preferences.
Adding to the allure is the Riviera Tower, Greece’s first “green” residential skyscraper. It is a true architectural landmark within The Ellinikon. Housing over 150 residences, each unit offers spectacular views and is a testament to cutting-edge biophilic design, which harmonises urban living with the natural environment.
Not far from there, The Cove Villas offer a seamless blend of urban and beachside living. These exceptional homes set impeccable standards in luxury and design, family-friendly living within walking distance from the beach, surrounded by lush greenery.
Branded hotel residences in the marina and the Vouliagmenis Mixed-Use Tower provide top-notch services from major hotel brands. These residences emphasise comfort and exemplary service, ensuring a high-standard living experience.
The Office Tower, the tallest commercial building in Greece, offers stunning views over Ellinikon Park and the Athenian Riviera. This tower is not just a workplace but a symbol of sustainability, aiming for the highest green standards under LEED certification and blending leisure with business versatility.
The shopping experience is redefined at the Riviera Galleria and The Ellinikon Mall. The Riviera Galleria, envisioned by Kengo Kuma, is a lavish shopping and dining destination by the seaside, spanning over 19,000 sq.m. It draws visitors from around the globe with its opulence and style. Meanwhile, The Ellinikon Mall, designed by AEDAS, covers an impressive 185,000 sq.m. and offers a curated selection of leading brands and entertainment options, enhancing the retail experience.
Lastly, the Retail Park within the Commercial Park is designed to host several “big box” retailers, offering unique shopping experiences that cater to a variety of tastes and preferences.
The proximity to these transformative developments near Glyfada makes the suburb an increasingly attractive option for real estate investment. Not only does the area promise a great lifestyle, but it also stands on the brink of a significant rise in property values. For those looking to invest in real estate, Glyfada offers a smart choice for capitalising on future growth and enjoying the benefits of living in one of Athens’ most dynamic suburbs.
Glyfada Real Estate Market
The real estate market in Glyfada has been on an upward trajectory, with property values steadily increasing over the years. The introduction of the Hellinikon project has given this trend a significant boost. Currently, Glyfada features a variety of property types, from high-end luxury villas with sea views to modern apartments.
The demand for real estate in Glyfada is high, driven not only by local interest but also from people returning or visiting the country. This demand is reflected in both the rental and purchase markets, with a significant rise in inquiries and transaction volumes over recent years.
Investment Opportunities in Glyfada
Investing in Glyfada offers a spectrum of opportunities, ranging from opulent luxury estates to functional, stylish apartments, catering to diverse preferences and investment scales. For those interested in rental income, Glyfada’s market is particularly lucrative, buoyed by its upscale lifestyle and proximity to the sea, which draws both tourists and business travellers seeking a relaxed yet sophisticated environment away from central Athens.
The demand for rentals in Glyfada varies significantly between short-term and long-term leases, each catering to different demographics. Short-term rentals are highly popular during the summer when tourists flock to the area for its beaches, shopping, and dining experiences. These properties, especially well-furnished apartments with sea views or those near Glyfada’s vibrant districts, can fetch premium rates, making them exceptionally profitable.
On the other hand, long-term rentals attract professionals and families who appreciate Glyfada for its quality of life, good schools, and safety. These renters typically look for modern amenities in properties, such as updated kitchens, air conditioning, and convenient access to public transport and essential services like supermarkets and healthcare facilities. Such attributes not only meet the needs of long-term residents but also help in maintaining lower vacancy rates.
Both rental strategies—short-term and long-term—offer substantial returns, with short-term rentals peaking during the tourist season and long-term leases providing a more consistent income stream. The ongoing developments, such as the expansive Hellinikon project, are set to enhance property values further, underscoring Glyfada as a smart choice for real estate investors looking for both capital appreciation and lucrative rental yields. With modern, well-located apartments becoming increasingly sought after, now is an excellent time to consider investing in Glyfada’s dynamic real estate market.
Practical Considerations for Investors
Investors need to consider several practical aspects when investing in Glyfada. Budgeting is crucial, as the range in property prices can accommodate various levels of investment, from the moderately expensive to the highly luxurious. Financing options are available, and understanding these alongside the local real estate laws is vital, especially for foreign investors.
The legal and tax implications of buying property in Greece can be complex, involving various regulations and requirements. Investors are advised to seek expert legal counsel to navigate this process smoothly and ensure compliance with all local laws and regulations from our office at letsmove.gr.
Future Prospects
The synergy between the Hellinikon project and Glyfada’s real estate market points toward a prosperous future. As the project progresses, the benefits to Glyfada are expected to multiply, enhancing its appeal as a prime location for investment. The ongoing development promises not only to improve infrastructure but also to boost the local economy by attracting further business and tourism, ensuring that the real estate market in Glyfada remains vibrant and dynamic.
Investing in real estate in Glyfada offers more than just an opportunity to own property in one of Greece’s most upscale suburbs. It’s an investment in a lifestyle and a future shaped by one of Europe’s most ambitious urban redevelopment projects. With its strategic location, thriving community, and the potential for significant economic benefits, now is the ideal time to consider Glyfada for your real estate investments.
FAQs
What makes Glyfada a prime location for real estate investment?
Glyfada’s unique combination of beachfront relaxation and urban luxury, alongside its proximity to the transformative Hellinikon project, makes it a prime location for investment.
How does the Hellinikon project influence property values in Glyfada?
The project enhances local infrastructure and boosts the economy, which in turn increases property values and demand in Glyfada.
What types of properties are available in Glyfada?
Glyfada offers a range from luxury villas to modern apartments, suitable for different lifestyles and investment levels.
What are the legal considerations for foreign investors in Glyfada real estate?
Foreign investors need to be aware of specific legal and tax implications, including property ownership laws and tax liabilities in Greece.
How can investors determine the best property type for their needs in Glyfada?
Investors should consider their budget, investment goals, and desired lifestyle when selecting a property type, possibly with the help of real estate experts.
