The real estate market in Southern Suburbs of Athens is experiencing consistent growth, with the Athens Riviera rapidly evolving into one of the most attractive destinations for high-value investments. According to a recent analysis by Engel & Völkers, a leading global real estate company, rising prices and increased demand are creating a dynamic environment ideal for both residential and investment activity.
In 2024, property prices in the Southern Suburbs rose by 7.9%, while projections for 2025 suggest an additional increase of around 3%. The most sought-after areas remain Glyfada, Voula, Vouliagmeni, and Elliniko, where the majority of interest from both domestic and international buyers is concentrated. These areas offer luxury residences, privileged access to the sea, high-quality infrastructure, and an upgraded quality of life.
As noted by George Petrás, CEO of Engel & Völkers Greece, interest from foreign buyers is remarkable, particularly for high-spec properties with direct contact with the coastal front. According to available data, 20% of purchase requests come from Germany, while significant percentages—approximately 10%—are recorded from Austria and Switzerland. Smaller shares come from buyers in the United States and the United Kingdom, who are seeking properties either for holiday use, permanent residence, or tourism exploitation.
Vouliagmeni remains consistently at the top in terms of prices and demand. Average property prices on internal roads range from €8,000 to €15,000 per square meter, while coastal or uniquely positioned properties often exceed €25,000 per square meter. This continuous price increase is directly linked to the scarcity of available properties, stricter urban planning legislation, and growing competition for high-standard residences.
Properties located directly on the seafront or built under more favorable construction coefficients in the past have become extremely rare, further enhancing their market appeal. Investment activity across the Athens Riviera covers a broad spectrum of options. The demand for luxury homes is impressive, with villas offering direct sea access and modern apartments with unobstructed sea views constantly drawing the attention of affluent buyers.
Simultaneously, intense tourist activity in the broader area makes short-term rental investments highly profitable, with high occupancy rates and substantial returns. The development of commercial zones and the emergence of new business hubs, especially in the Elliniko area, are generating increasing demand for shops, offices, and food establishments. Demand for commercial properties isn’t limited to newly built structures but also includes existing buildings that can be renovated or repurposed into modern commercial projects.
A particular momentum is also being recorded in the renovation sector. Older properties requiring aesthetic or functional upgrades are becoming magnets for investors seeking returns through renovation and resale or tourism utilization. The redevelopment of old houses or commercial buildings and their conversion into modern living or hospitality spaces yields significant profits for those who act timely and strategically.
The land market continues to attract investment interest despite its scarcity. Available plots, whether already developed or with future potential, offer considerable added value, especially in areas close to the coastal front or included in urban regeneration plans. The steady increase in land value and the long-term prospects of the area enhance demand from institutional investors, construction companies, and private individuals with strategic horizons.
The Athens Riviera is undergoing a full-scale renaissance. The ongoing investment in Elliniko, the gradual enhancement of coastal areas, and infrastructure upgrades are contributing to shaping a first-line European destination. Prospects for the coming years are highly positive, with the region transforming into a reference point for the Greek economy, tourism, and the real estate market.
The big challenge for Athens now lies in balancing quality, accessibility, and sustainable development. The Athens Riviera is not just a privileged location—it’s evolving into a modern model of urban development capable of delivering added value to those who invest early and with strategic vision.