Investment and market
How the Ellinikon project affects real estate prices in Glyfada
The impact of the Ellinikon project on the Glyfada real estate market
Ellinikon is one of the largest urban regeneration projects in Europe, being implemented on the site of the former airport in close proximity to Glyfada. The project includes residential neighborhoods, a massive park, retail spaces, sports infrastructure, a renovated waterfront, and high-rise buildings such as the Riviera Tower — Greece’s first ‘green’ residential skyscraper, standing 200 meters (50 floors) tall.
For the Glyfada real estate market, the proximity to the new residential, business, and tourist hub of the Athenian Riviera is a significant development factor.
Growing interest in the southern districts of Athens
The Ellinikon project is attracting the attention of international buyers and investors. While Ellinikon offers new residences and modern infrastructure, Glyfada already possesses a well-developed, established environment. Many buyers may prefer an apartment in a ready-made neighborhood while maintaining quick access to all the benefits of the new center.
Factors influencing property values
The Ellinikon project affects the Glyfada market through several key areas:
- Increased prestige of the Athenian Riviera.
- Creation of new jobs.
- Attraction of affluent buyers.
- Development of transport and social infrastructure.
- Rising demand for modern apartments and seaside properties.
According to data from the Bank of Greece, in the first quarter of 2026, apartment prices in Athens rose by 5.2% compared to the previous year. It is important to note that this is general city-wide statistics, and price growth cannot be attributed solely to the Ellinikon project.
Which properties may benefit the most
The following types of real estate are likely to be in highest demand as the area develops:
| Property Type | Advantages |
|---|---|
| New apartments | Energy efficiency, modern engineering |
| Properties with parking | High liquidity |
| Penthouses | Large terraces, scenic views |
| Seaside housing | Proximity to the coastal zone |
Older apartments without parking, elevators, or quality renovations may appreciate in value more slowly.
Potential risks for the investor
Value growth is not guaranteed. When making a decision, it is necessary to consider:
- Long project implementation timelines (completion of individual residential projects is scheduled for 2027).
- Construction noise in areas adjacent to the site.
- High cost of entry into the Glyfada market.
- Competition with new properties within Ellinikon itself.
- Property maintenance costs and differences between micro-districts.
What to check before buying
Before closing a deal, it is recommended to evaluate the following parameters:
- Real distance to Ellinikon and the sea.
- Prospects for future construction in front of the windows.
- Building quality and layout solutions.
- Availability of a parking space.
- General building maintenance costs (κοινόχρηστα).
- Real rental rates and resale potential.
Conclusion
Ellinikon is making the southern districts of Athens more visible to international buyers, which contributes to infrastructure development and supports the value of quality real estate in Glyfada. However, the success of an investment depends on the choice of a specific property: location, availability of parking, modern engineering, and clear rental potential.
Explore the AILIT Group project catalog and useful materials in the real estate investment in Greece section. Contact us to receive a selection of properties in Glyfada tailored to your budget.
This material is for informational purposes only and does not constitute a guarantee of real estate value growth.