To date, around 17,000 interested buyers from over 110 countries have expressed interest in the residential units at Elliniko, noted Mr. Alexandros Moulas, Chief Commercial Officer, Residential at Lamda Development, speaking at the Athens Riviera Summit. He emphasized that demand now comes from every corner of the globe, with 65% of inquiries from Europe, 15% from the U.S., and 12% from the Middle East. There is also significant interest from the UK, Australia, Canada, Germany, Turkey, and Switzerland.

Buyers have diverse profiles. As the project progresses, foreign interest is increasing, with varied trends and motivations. Some view Elliniko as a permanent residence, while others see it as a purely investment-driven opportunity, he added.

Buyer Profiles and Motivations

According to data presented by Mr. Moulas:

• 47% of buyers see the property as an investment, expecting returns between 5%–7% through rentals.
• 29% are buying for a primary residence,
• 21% for a secondary home,
• Only 3% are motivated by obtaining a Golden Visa.

Demand is primarily focused on two- and three-bedroom apartments (43% and 29%, respectively), while larger residences account for a much smaller share. Most financing comes from Greek banks, and LAMDA has planned facility management services for owners, a critical feature in residential complexes, Moulas noted.

Sold Out on the Coastal Front

Strong demand has already led to a complete sellout of all properties offered on the Athens coastal front.

• The Riviera Tower, now at its 32nd floor, has no available units left.
• A similar situation is seen in the Cove Residences, which consist of 115 homes.

Average prices:

• Riviera Tower: ~€13,700 per sq.m, with higher prices on upper floors
• Cove Residences: ~€11,000 per sq.m

In Little Athens, a neighborhood made up of 28 buildings, prices start at €7,000–€8,000 per sq.m (with total values from €400,000 to €2.5 million) and reach up to €11,000 per sq.m at Park Rise.

93% of all residences released so far have been sold or reserved, according to the latest data.

New Neighborhoods Coming

LAMDA Development has already announced the next major neighborhood, East Village, which will be developed on the eastern side of the site. One of its planned complexes, Skyline Havens, designed by Liakos Architects, will include 150 luxury residences with resort-style amenities (outdoor pools, playgrounds, gym, concierge services), scheduled for delivery by 2028.

In the next 18 months, most of Phase 1 of the project is expected to be completed, including:

• 1,500 residences by LAMDA
• Around 500 more from partner developers

By the end of 2028, about 2,000 residences will have been delivered, with new projects launched gradually. Already, 100–120 new homes are announced for late 2025, and another 300–350 in Q1 2026.

From Greece to the World

Interest in Elliniko initially came strongly from Greek buyers, who largely absorbed the first released units. Now, however, the trend is clear: global demand is taking over.

As Mr. Moulas pointed out, Americans and Australians show a willingness to spend more, while Europeans and Middle Eastern buyers view the investment as long-term.

The Elliniko redevelopment is expected to eventually deliver 10,000 homes across all phases. With 93% already sold or reserved, it’s clear the project is not just a major development for Athens, but a global case study in how urban revitalization can attract international real estate demand.

A Greener, Smarter City

As previously announced, a key aspect of the Elliniko urban redevelopment is the transformation of the area’s microclimate. Where the site once consisted of 70% concrete, it will now be 70% green space, with all the associated environmental benefits.

Furthermore, the new city will embody the latest in sustainable development, incorporating:

• Renewable energy sources
• Water and energy efficiency systems
• And other state-of-the-art environmental technologies.