Strong demand, which exceeds 17,000 from more than 110 countries, has been recorded for residences in The Elliniko, Alexandros Moulas, Chief Commercial Officer, Residential of Lamda Development, said speaking at the Athens Riviera Summit.
According to the data he cited, 65% of the interested parties are Europeans, 15% Americans and 12% from the Middle East. A significant presence is also recorded from Britain and Australia, but also from countries such as Canada, Germany, Turkey and Switzerland.
47% see an investment opportunity
As for the profile of buyers, it differentiates. Foreigners increase as the projects progress and follow different trends, with different motivations. Thus, in addition to those who see The Elliniko as a place for permanent residence, there are also those who see it as a pure investment option, he added.
According to the data presented by Moulas:
– almost half of the buyers (47%) see the purchase of a residence in The Elliniko as an investment, with expected returns of 5%-7% through rentals
– a percentage of 29% made the purchase as a primary residence,
– 21% as a second home,
– while only 3% state that the interest is linked to obtaining a Golden Visa.
The demand is mainly directed towards two and three-room apartments (43% and 29% respectively), while a much smaller percentage concerns larger residences.
“East Village”
Lamda Development has already announced the next major neighborhood, “East Village”, which will be developed on the eastern side of the area. One of the complexes of the new neighborhood, “Skyline Havens” by Liakos Architects, will include 150 luxury residences with resort-like services (outdoor pools, playgrounds, gym, concierge services) and is scheduled for delivery in 2028.
In the next year and a half, most of the projects of the first phase are expected to be completed, which includes 1,500 residences from LAMDA and an additional approximately 500 from collaborating developers. By the end of 2028, a total of approximately 2,000 residences will have been delivered, while new complexes will be launched gradually. By the end of 2025, 100-120 new residences have been announced and another 300-350 will be available in the first quarter of 2026.
