Greek real estate: Luxury flat sold in Kolonaki at exorbitant price

Demand for luxury homes in Greece remains stable.

Surveys show that the real estate market is consistently chosen by investors over time as our country is one of the most attractive destinations.

According to Engel & Völkers Greece in the heart of Athens, the flagship penthouse of the One Athens complex has been sold for the sum of 5.6 million euros.

Greek real estate: Residential rents are “galloping”.

Overlooking the Acropolis and the Saronic Gulf, One Athens in Kolonaki is one of the most luxurious residential complexes in the center of Athens, with a rich history dating back to the 1950s.

The penthouse has 4 bedrooms and 6 bathrooms, and extends to 530 sq.m.

It also includes a private terrace of 190 sq.m. overlooking the Acropolis.

Market players report that the Greek luxury housing market has changed substantially in recent years.

With regard to high-end properties, according to converging research estimates that have come to light, they are the target of Greek and foreign investors as well as citizens, having significantly raised prices in the specific sector, as the housing stock is running out and demand significantly falls short of supply .

The specifications of the properties in this category are characterized both by the area they are located, their square footage, the year they were built and by their technical characteristics (energy upgraded with integrated all modern technologies and features).

At the same time, the demand for luxury homes, especially from foreign investors, has soared, creating large differences in selling prices compared to a typical summer residence.