kathimerini.gr

Athenian Riviera Real Estate Booms, Driven by Foreign Investment

Demand for housing in Athens' southern suburbs increased by 7.9% in 2024, with prices ranging from €8,000 to over €25,000 per square meter, driven by strong foreign investment and a transformation into a high-end residential, tourism, and investment destination.

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Greek

Greece

EconomyOtherInvestmentGreeceTourismReal EstateLuxury HousingAthens Riviera

Engel & Völkers Ελλάδος

Γιώργος Πετράς

What types of properties are in highest demand and what are the price ranges for different property categories?: This surge is driven by increased interest from foreign buyers, particularly from Germany (20%), Austria, and Switzerland (10%), seeking luxury villas and modern apartments with sea views. The area is rapidly transforming into a prime destination for residential, tourism, and investment purposes, with projections for global prominence by 2035.
What is the current state of the Athenian Riviera real estate market and what are the key factors driving its growth?: Demand for housing in Athens' southern suburbs surged 7.9% in 2024, with a projected 3% further increase in 2025, according to Engel & Völkers Hellas. This rise is reflected in prices ranging from €8,000 to €15,000 per square meter for inland properties, reaching or exceeding €25,000 for beachfront or investment properties.
What are the long-term implications of this real estate boom for the Athenian Riviera's economy and its position in the global market?: The strong demand and price increases suggest a significant shift in the Athenian Riviera's real estate market, positioning it as a high-value investment destination. The influx of foreign investment, coupled with the development of luxury properties and short-term rental options, is fueling this growth and transforming the region's economic landscape.

Cognitive Concepts

4/5

Framing Bias

The framing is heavily positive, emphasizing the rapid growth and high demand in the Athens Riviera real estate market. The use of phrases like "rapidly transforming into one of the most sought-after destinations" and "world-class destination" creates a highly optimistic narrative, potentially neglecting potential downsides. The headline (if there was one) would likely reinforce this positive framing. The focus on high prices (8,000-25,000 €/sq.m) also contributes to this positive framing, highlighting the luxury aspect and potential investment returns.

3/5

Language Bias

The language used is generally positive and promotional, reflecting the source (a real estate agency). While not overtly biased, terms like "rapidly transforming," "sought-after," and "world-class" are loaded with positive connotations. More neutral alternatives could include: "experiencing significant growth," "popular," and "high-demand". The repetition of positive descriptions reinforces the optimistic tone.

3/5

Bias by Omission

The article focuses heavily on the perspective of Engel & Völkers, a real estate agency. While it mentions foreign buyer interest, it lacks data on local buyer interest or alternative perspectives on the Athens Riviera real estate market. The absence of information about potential negative aspects of the increased demand (e.g., impact on local residents, environmental concerns) constitutes a bias by omission.

Sustainable Development Goals

Sustainable Cities and Communities Positive

Direct Relevance

The text highlights a 7.9% increase in housing demand in Athens

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