Luxury Real Estate: Prices Up 55% in North Athens – Hot Areas

Luxury Real Estate: Prices Up 55% in Northern Suburbs – The Prime Locations

Athens’ luxury real estate market is on a steep upward trajectory. Over the past two years, demand for high-spec homes in the northern suburbs has skyrocketed, driving price increases of up to 55%. This trend isn’t limited to affluent Greeks; foreign investors are also eyeing Athens as a safe and promising destination.

Why Prices Are Soaring in the Northern Suburbs

Areas like Ekali, Kifisia, Psychiko, and Filothei offer significant advantages:

• High quality of life with greenery, low building density, and access to international schools
• Modern homes with large plots, swimming pools, and energy-efficient systems
• Close proximity to the city center without its noise and traffic congestion

Infrastructure upgrades, the planned metro extension to the north, and Athens’ rising international profile as an emerging investment hub are further boosting this market segment.

Foreign Investors Fuel the Boom

A large share of demand comes from foreign buyers, mainly from Europe and the U.S., who benefit from the Golden Visa program. Purchasing property worth over €250,000 grants them EU residency—a strong incentive. Greece, with its climate and security, is now firmly on the global luxury real estate map.

The Areas That Stand Out

• Ekali: High-end homes with large gardens and privacy
• Kifisia: A blend of commercial vibrancy and upscale residences, attracting families
• Psychiko & Filothei: Large plots, architectural masterpieces, and access to top international schools
• Palaio Psychiko: A “brand name” location with enduring prestige and value

Beyond the northern suburbs, there’s growing interest in southern areas like Vouliagmeni and Elliniko, thanks to coastal development and the landmark The Ellinikon project.

Greece Compared to the Rest of Europe

Despite these sharp increases, prices in Greece remain lower than in other European capitals like Paris or Barcelona. This makes Athens a competitive choice for buyers seeking long-term capital appreciation in a market with room to grow.

Outlook for 2026

The upward trend is expected to continue, as:

• Demand for high-end housing shows no signs of fatigue
• International interest remains strong
• Supply of quality luxury homes is still limited

Industry experts forecast even greater investments from developers in the coming period, with new projects in premium areas aiming to meet the rising market demand.

The Big Question

Can Greece balance development with social cohesion? As prices surge, middle-income residents are being pushed out of some neighborhoods, triggering signs of gentrification. The key question is whether the state can support affordable housing without stalling the upward momentum of the luxury segment.