Seafront development opportunity near Athens, Greece – investor feedback?

Question

Hello everyone,

I own a seafront property near Lavrio in Attica, Greece, about 30 minutes from Athens International Airport. The property sits on a ~1,000 m² plot with full unobstructed sea frontage and direct access to the beach.

There is an existing two-storey main house (approximately 270 m² total) plus a smaller guest maisonette on the property, along with large garden areas and outdoor facilities. Part of the upper floor of the main house is unfinished, so there is room for customization or redevelopment.

Because the plot is relatively large for a seafront location and the area is very quiet, I have been wondering whether the highest and best use would be:

• renovating the existing houses
• developing additional villas on the plot
• or selling it as a small development project

The property is also within the price range for the Greece Golden Visa Program, which seems to attract many international buyers.

I’d be interested to hear from investors or developers here:

• Do projects like this near Athens typically attract interest from developers?
• Would investors generally prefer redevelopment into multiple villas or renovation of the existing structures?

Curious to hear your thoughts.

Thanks!

Henry Clark · Answer

OP.

I would break your discussion down as follows:

1.  What do you have the funding/contacts/expertise to do?  Don't answer.  Let this guide your thinking down different paths.

2.  BP is a generic forum in general, and then specific in certain areas.  I doubt Greece is a specific area of background for our posters.  Use different local information sources to channel your thinking.  Example:  in your area on Airbnb or others, what is the best configuration and type of rentals?  Is your location a good location? etc.    For your investor type discussions, join some expat groups more specific to your area.  Get their input, try not to sell to them.  What were their major investment points into Greece or which areas.  Where do most Expats live?

3.  When you do posts, post a picture.  Especially if a geographical feature is the primary selling point such as Ocean view.  Example below.  Belize river front property.  Let the pictures help communicate.

Will be in Greece in about a week.  Really looking forward to seeing your country.

Good luck on your project.