A total of 16,000 people from 110 countries have expressed interest in purchasing a home in Ellinikon, according to data released by Lamda Development, which operates a relevant platform for expressing interest.
The majority of interested parties (60%) are Greeks, 20%-25% are Greeks living in the USA, the UK, the Middle East, or interested parties connected to Greek capital and 15%-20% are foreigners, as stated by the commercial director of The Ellinikon (for residential and commercial developments), Alexandros Moulas, speaking at the RED Meeting Point real estate conference.
Based on the data provided by the Lamda executive, 40% buy homes for investment reasons, 30%- 35% for a primary residence, 20% for a second home and a small number within the framework of the Golden Visa program.
During this period there is an increased demand for housing in Greece, especially in the Southern suburbs and this is considered to be fueling the continuous increase in prices.
Apartment sales
In addition to the iconic residential tower that Lamda is also building, it has also constructed 559 apartments in The Ellinikon area, specifically in the neighborhood called Little Athens. According to the company’s most recent data (end of February), 81% of these have been sold or pre-sold.
Other companies, such as the international groups Brook Lane and Ten Brinke and the Greek companies Hellenic Ergon and Daedalus Development, also operate in the area, having purchased five plots of land in The Ellinikon area, with the total investment estimated at 300 million euros.
Lamda is currently in the process of selling three more plots of land with the prospect of building houses in an area of 39,000 sq m. Based on estimates by Lamda’s management, the average selling price of new plots is approximately 2,250 euros per sq m (on average, it received 2,100 euros per sq m from the sale of five plots in 2024).
