It is spring in the mid-1990s when a few young heirs of business and shipping families, out for a stroll, stop in front of one of the most beautiful properties in Ekali.

It is a highly impressive villa set on an approximately 4,000 sq.m. at the corner of Panos 2 and Terpsichoris streets, while a huge “Ω” dominates the entrance gate.

Because of the letter, the young men believe that it belongs to the late Aristotle Onassis, unaware that the actual owner is Theodoros Kasselakis, a businessman active in ship painting.

His son Stefanos is eight years old at the time and enjoys to the fullest the carefree years of childhood together with his friends in this extraordinary house.

Thirty years later, the childhood home of the president of the “Movement for Democracy” has changed hands after a series of setbacks and auctions.

After initially being acquired by an insurance company, it ultimately ended up in the hands of shipowner Haris Vafeias, who saw the property as a very good investment opportunity.

The renovation and the rent

According to sources close to the shipowner, there is no intention on his part to sell the impressive 1,600-square-meter villa.

His wish is to rent it out, which is why he proceeded with an extensive renovation of the property that was completed a year and a half ago.

The house contains the basic furnishings, as it is enormous, and the new owner leaves it to the tenant to decorate it according to personal taste.

The rent ranges from €10,000 to €20,000 per month, depending on the duration of the lease, while the villa has not been listed on any of the luxury property rental platforms operated by well-known real estate firms.

The shipowner reportedly preferred a more private approach to prospective tenants, who will have the opportunity to rent this prime property.

The troubles of the Kasselakis villa

The impressive family home of Stefanos Kasselakis caused trouble for his father starting in 2004, when tax authorities discovered that the property—registered under an offshore company based in Monrovia, Liberia—had as its real (beneficial) owners the parents of the former SYRIZA president.

Theodoros Kasselakis challenged the income taxes and large property taxes imposed on him for the villa and sought through legal proceedings to avoid paying the amount of €4,016,269.

The case ultimately reached the Council of State (Supreme Administrative Court), which last July issued its decision, according to which the businessman must pay the aforementioned amount to the Greek State. Together with 21 years of surcharges, the total now exceeds €12,000,000.