In recent years, the housing market has started to grow as many foreign and Greek buyers have begun to invest, mainly benefiting from short-term rentals through Airbnb or other online services. With inflation on the rise, real estate has come back into the spotlight as it is considered a “safe investment haven” in times of rising prices.

However, none of the above means that Attica’s investment opportunities have been exhausted. In fact, according to the statistical model her team created golden opportunity, using data from more than half a million properties and managing most of the market, they are located in many areas of the capital. This is a property that sells at least 20% below the average forecast price in its category, which is determined based on characteristics such as the age, size and location of the property.

A recent analysis revealed the greatest investment opportunities in the categories of properties up to 100 m2, built between 1950-1980 and selling price up to 85,000 euros. OUR attic square becomes the one with the most abilities (total 304 properties) while they follow patisia (289 objects), h America Square (268 objects) and Kallithea (239 objects).

It should be noted that the above objects usually require additional investment of time and money in order to be able to resell them and raise capital for the corresponding investments. In any case, however, their asking price is estimated to be on average 20-35% lower than the average predicted selling price for their location and features.

Opportunities in new construction

Apart from old apartments, there is no shortage of investment opportunities for new apartments even in Cell or New world. But the three areas where most of the new buildings are concentrated are glyfada, Bullet as well as Salty. These apartments are usually large (100-1000 m2) and correspond to the upper price category of the model.

The main advantage of specific Opportunities, besides the fact that they do not require renovation and therefore additional investment, is that they are located in areas where the average rental price has been steadily increasing over the past three years. For example, from 2019 to 2021 Bullet Rents increased by 13%. Kifisia 11%, at patisia 10% and in glyfada 7%.

This rate of growth is a good criteria for buying a home as a rental investment while providing stable income streams. Usually the new condition of the property often means easier finding a tenant, but at the same time justifies a higher rent.

High yields in the North

But there is also a group of areas that, although they have little numerical capacity, can potentially have a higher rate of return. For example, in areas such as Vrilissia while bargain properties are hard to come by (20), their asking price can be as much as 40% below the average projected sale price before refurbishment. The same applies to her. Kifisia, where, for comparison, there are a surprising number of offers (95), with most of them belonging to the category of properties from 100 to 1000 sq.m, with a price of 250,000 and a year of construction that varies (1950-1980, 1980-2000 and 2000-2023 gg.). This group also includes areas such as Greek, Saint Dimitrios, Nea Ionia and Weights.

Market challenges

The real estate market in Greece is currently showing resilience, although it remains to be seen how it will be affected by a number of pressures, such as rapidly rising construction costs and the aftermath of the war in Ukraine.

However, putting the economy in an inflationary environment increases the safety of real estate investments precisely because they tend to absorb inflation. Moreover, in addition to monthly income, and if they are in the right area, in the long run they can generate capital gains from the constant increase in selling prices, which in many areas have not yet reached the level of 2008.

In this context, the features of properties, their location and age are and will remain key parameters for making investment decisions. Thus, according to a recent analysis of Golden Opportunity, there are currently several such opportunities in Attica. Hosting more than half a million objects in its database, golden opportunity systematically analyzes market data, helping both investors and potential private owners act wisely.