"How Piraeus Became the New Hotspot of Attica in Tourism and Real Estate"

A complete transformation of the Great Harbor, where some of the most iconic investments are concentrated, beyond the growing interest in the real estate market. From the Piraeus Tower and the new hotels already underway to the new infrastructures and partial redevelopments, such as the one for the central market of the city, it is certain that the port has evolved into one of Attica’s investment hotspots in tourism and real estate. The departing year marks the full recovery of Piraeus, where some of the most emblematic investments are concentrated, beyond the increasing interest reflected in real estate transactions. The areas around the harbor, from the last zones with more affordable prices, have recorded a double-digit percentage increase during the last two years (2021-2023), averaging around 30% in the Municipality of Piraeus, as evidenced by published listings. Especially from the summer onwards, the “Golden Visa” for granting residence permits to property buyers from third countries has played a significant role. According to real estate agents and industry companies, the increase in the purchase limit from €250,000 to €500,000 for the center of Athens, southern, and northern suburbs has directed potential buyers to Piraeus, where the limits remained low. 

Investment Hub

In the investment arena, beyond the well-known names associated with the port, such as COSCO, new projects have multiplied lately, considering the investments in public infrastructure. “We had already been observing the upcoming changes in the port for quite some time before the pandemic, in combination with the redevelopments promoted by the municipal authority. Therefore, we decided to invest in Piraeus,” states the CEO of the development company Hellenic. The project has a gross value of €5 million and will operate from spring 2024 under the management of a Greek hotelier. Its primary advantage is its location in an area with high commercial interest, just 150 meters from the Piraeus Municipal Theater and the metro terminal station. “About 16 million travelers pass through the port – there was a gap in modern hospitality. The idea had already emerged in 2019, considering the upcoming metro and the individual redevelopment programs by the municipal authority, which continues even now. Therefore, our interest in new investments is maintained since there is consistency and continuity due to the reasons and actions of the municipal authority. So, we continue to view Piraeus as an investment destination in the broader field of commercial properties, thanks to the overall development of infrastructure and future growth.”

Among the more longstanding arrivals at the port, Dimand continues its investments, signing, among others, two landmark projects. The first involves the redevelopment of the Piraeus Tower, the country’s first digital green skyscraper, with an investment exceeding €50 million from the Dimand-EBRD and Prodea Investments AEEAP consortium. This project, which won the municipality’s concession competition in 2020, is set to be completed by March 2024. However, this Christmas marks the opening of the first store in the Piraeus Tower, specifically the JD Sports chain, on the ground floor, covering an area of over 1,500 sq.m. Following in the first quarter of 2024 is the opening of the largest Zara store in Greece and one of the largest in Europe, spanning almost 6,000 sq.m. The new store will replace the two existing Zara stores, totaling 3,000 sq.m., currently operating in Piraeus. Additionally, the Development Agency of the Municipality of Piraeus has commenced work on a redevelopment that, in combination with the utilization of the Piraeus Tower, further enhances the area. This includes the central market of the city and the construction of the bioclimatic roof, aiming to transform it into a modern covered market, aesthetically and functionally upgrading it, along with the simultaneous redevelopment of the surrounding environment around Makra Stoa, Hippokratous streets, behind the Tower, and the reconstruction of sidewalks and roads around the new landmark. The project will exceed €3 million, with a timeline for completion set at 12 months from the start of construction. Moreover, on Makra Stoa street at the intersection with Ethniki Antistaseos, just 100 meters from the Tower, the newly listed Orilina Properties AEEAP has positioned itself in a listed neoclassical building near the well-known square with the Clock of Piraeus, for luxurious office spaces covering 2,000 sq.m.

On Friday, December 22nd, the brand-new “Athenarum Portus” made its debut in hotel investments. This new 4-star hotel, boasting 49 rooms, is located on Leoharus and Navarinou streets, near the metro station. The hotel’s name refers to the “port of Athens” and has been one of the names associated with Piraeus since Roman times and beyond. The property is a conversion of an old office building, leased with a long-term agreement to a company specializing in the design and construction of buildings, particularly in the hotel sector. In close proximity to Athenarum Portus is the new project by the Mitsis Group, scheduled for completion by mid-2024. This development addresses a significant shortage of modern, high-standard accommodations in the area and is part of the group’s extensive presence in the hotel industry.

Piraeus still offers Golden Visa Apartments with 250.000 euros

DONT MISS THESE OPPORTUNITIES

New Apartments in Piraeus ideal for Golden Visa or Airbnb

180.000 - 250.000 euros

Hurry up. Apartments for Gold Visa in Piraeus Athens

270.000 euros

New Apartments for Gold Visa Athens Piraeus

180.000 - 250.000 euros

NEW Golden Visa Apartments in Piraeus Athens

180.000 - 250.000 euros

"How Piraeus Became the New Hotspot of Attica in Tourism and Real Estate"

A complete transformation of the Great Harbor, where some of the most iconic investments are concentrated, beyond the growing interest in the real estate market. From the Piraeus Tower and the new hotels already underway to the new infrastructures and partial redevelopments, such as the one for the central market of the city, it is certain that the port has evolved into one of Attica’s investment hotspots in tourism and real estate. The departing year marks the full recovery of Piraeus, where some of the most emblematic investments are concentrated, beyond the increasing interest reflected in real estate transactions. The areas around the harbor, from the last zones with more affordable prices, have recorded a double-digit percentage increase during the last two years (2021-2023), averaging around 30% in the Municipality of Piraeus, as evidenced by published listings. Especially from the summer onwards, the “Golden Visa” for granting residence permits to property buyers from third countries has played a significant role. According to real estate agents and industry companies, the increase in the purchase limit from €250,000 to €500,000 for the center of Athens, southern, and northern suburbs has directed potential buyers to Piraeus, where the limits remained low.

Investment Hub

In the investment arena, beyond the well-known names associated with the port, such as COSCO, new projects have multiplied lately, considering the investments in public infrastructure. “We had already been observing the upcoming changes in the port for quite some time before the pandemic, in combination with the redevelopments promoted by the municipal authority. Therefore, we decided to invest in Piraeus,” states the CEO of the development company Hellenic. The project has a gross value of €5 million and will operate from spring 2024 under the management of a Greek hotelier. Its primary advantage is its location in an area with high commercial interest, just 150 meters from the Piraeus Municipal Theater and the metro terminal station. “About 16 million travelers pass through the port – there was a gap in modern hospitality. The idea had already emerged in 2019, considering the upcoming metro and the individual redevelopment programs by the municipal authority, which continues even now. Therefore, our interest in new investments is maintained since there is consistency and continuity due to the reasons and actions of the municipal authority. So, we continue to view Piraeus as an investment destination in the broader field of commercial properties, thanks to the overall development of infrastructure and future growth.”

Among the more longstanding arrivals at the port, Dimand continues its investments, signing, among others, two landmark projects. The first involves the redevelopment of the Piraeus Tower, the country’s first digital green skyscraper, with an investment exceeding €50 million from the Dimand-EBRD and Prodea Investments AEEAP consortium. This project, which won the municipality’s concession competition in 2020, is set to be completed by March 2024. However, this Christmas marks the opening of the first store in the Piraeus Tower, specifically the JD Sports chain, on the ground floor, covering an area of over 1,500 sq.m. Following in the first quarter of 2024 is the opening of the largest Zara store in Greece and one of the largest in Europe, spanning almost 6,000 sq.m. The new store will replace the two existing Zara stores, totaling 3,000 sq.m., currently operating in Piraeus. Additionally, the Development Agency of the Municipality of Piraeus has commenced work on a redevelopment that, in combination with the utilization of the Piraeus Tower, further enhances the area. This includes the central market of the city and the construction of the bioclimatic roof, aiming to transform it into a modern covered market, aesthetically and functionally upgrading it, along with the simultaneous redevelopment of the surrounding environment around Makra Stoa, Hippokratous streets, behind the Tower, and the reconstruction of sidewalks and roads around the new landmark. The project will exceed €3 million, with a timeline for completion set at 12 months from the start of construction. Moreover, on Makra Stoa street at the intersection with Ethniki Antistaseos, just 100 meters from the Tower, the newly listed Orilina Properties AEEAP has positioned itself in a listed neoclassical building near the well-known square with the Clock of Piraeus, for luxurious office spaces covering 2,000 sq.m.

On Friday, December 22nd, the brand-new “Athenarum Portus” made its debut in hotel investments. This new 4-star hotel, boasting 49 rooms, is located on Leoharus and Navarinou streets, near the metro station. The hotel’s name refers to the “port of Athens” and has been one of the names associated with Piraeus since Roman times and beyond. The property is a conversion of an old office building, leased with a long-term agreement to a company specializing in the design and construction of buildings, particularly in the hotel sector. In close proximity to Athenarum Portus is the new project by the Mitsis Group, scheduled for completion by mid-2024. This development addresses a significant shortage of modern, high-standard accommodations in the area and is part of the group’s extensive presence in the hotel industry.

Piraeus still offers Golden Visa Apartments with 250.000 euros

DONT MISS THESE OPPORTUNITIES

New Apartments for Gold Visa Athens Piraeus

180.000 - 250.000 euros

NEW Golden Visa Apartments in Piraeus Athens

180.000 - 250.000 euros

New Apartments in Piraeus ideal for Golden Visa or Airbnb

180.000 - 250.000 euros

Hurry up. Apartments for Gold Visa in Piraeus Athens

270.000 euros