Intense is the turn of both the AEAPs and the powerful developers in the luxurious residential, as the demand for Greek and foreign buyers is constantly rising. This results in strong players’ portfolios “fill” premium properties, which can give them significant returns and revenue. A typical example is Prodea, which has recently opened up residences, as it has an overall investment plan in this sector of 200m euros so far, having started with five residential projects in Attica, which mainly concern the average Greek family. AEPAP, however, also turns to luxury apartments, which appear to be sought after especially in the Southern Suburbs, as it proceeds to create a premium residential complex of luxury in an area located very close to the Greek investment. The project will be implemented on a plot of 2.5 acres at 22 Tuesday Street in Greek. The building complex will consist of two luxury apartments, which will then be sold. The “frenitis” that exists for the luxurious residences of the Southern Suburbs is also seen by the pre-sales that have begun for all 400 luxury residences that will include the Hines and Henderson Park Project Voula. This investment, which just a few days ago entered the implementation phase, seems to have already attracted the interest of the buyers, as the first housing conditions have been made, which in their majority have so far been made by Greeks. Prices for these luxury apartments on average appear to start at EUR 7,500 per square meter. The pre-sales of new apartments from Lamda Development to Greek and in particular the “fronts” of 50 metres high towers with the code “Park Rise” and more broadly in the new residential “neighbourhood” of “Little Athens”. As a result of a new corporate presentation of the listed company, Lamda Development has secured a pre-sale for 21 Park Rise apartments, which is expected to be built in the “internal” of the property in the Greek rather than the coastal front, “taking out”, at the same time, in the “vitrina” the new apartments of the project Little Athens. Both Park Rise and the developments of Little Athens are expected to be completed in late 2026 and form part of the plan to add 1,200 houses to the first phase of Greek development. The average sale for residential properties in Greece (Little Athens, Park Rise), according to the administration of Lamda Development, was formed at 7,500 euros per sq.m., Major development of luxury houses are also noted in the Northern Suburbs, which are first in the preference of Greek buyers. One of the main players investing in this area is Hellenic Properties. The company builds seven luxurious residences in the stone historic building in the heart of Kifisia in Strovili, at the number 18 of Panagia Tsaldari Street. These luxury houses are expected to be sold soon by well-known real estate offices, which are also addressed to international public. Prices will start from 8,500 to 9,000 euros per sq.m. and as long as they are sold they will have an upward trend. It will be sold for EUR 2 million because of their squares, but prices that do not reflect the average prices in the Northern Suburbs, as this ranges to EUR 1.3 million. Luxury residential mixed-use project in Mets is also being prepared by Noval. In particular, it is an office and apartment building located on Ardettou Street, which is an investment of 10m euros and is expected to be delivered at the end of 2024. These apartments will be given for rent rather than for sale, because they are strategically located, which may in future bring higher rents.
Seeks the luxury residences of the powerful players of the real estate
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