The distance to the beach and sea views are more important than the age of the buildings for many home buyers looking for a place in the southern Athens suburbs, says Themis Bakas, chairman of E-Real Estates.
“In many areas of the southern suburbs, apartment prices built between 1980-2000 are at the same levels as newer properties due to their location and unobstructed view,” he tells GreekGuru.net
“The availability of real estate with a view and / or within walking distance from the sea is low, while in many cases, such as in Kavouri, the availability of apartments for sale between 90sqm-110sqm is really minimal,” he added.
Demand for homes on the southern Athens coast, stretching from the port of Piraeus through to Sounio, is particularly strong with the area drawing both locals and foreigners. Prices in the area vary considerably.
At the top end of the market in Vouliagmeni, an apartment in a building constructed after 2011 costs between 8,500 to 10,000 euros per square meter, while in Kavouri the price for a similar house is in the range of 6,000 to 7,800 euros per square meter.
Further down the scale, in Glyfada (Kato) new apartment prices are in the vicinity of 3,200 to 4,200 euros per square meter. In the same area, however, older homes (buildings that went up between 1980 to 1990) are sold for around 2,300 to 3,800 euros per square meter, based on a survey by E-Real Estates of apartments between 90 to 110 square meters with a parking spot and storage area.
“In new constructions and especially in Kato Glyfada and the Golf area, most of the available apartments, especially with higher selling prices, have a private pool on the balcony, a shared gym as well as a guest lounge in specifications that go beyond common, conventional constructions,” he added.
“The general picture seen among properties built after 2005, is that most of the ones for sale are luxury constructions with a modern design,” he added.