Once completed, Athens transport projects, which include the extension of the Athens metro, the tram line as well as stations at suburbs, is expected to boost connectivity and offer benefits to real estate investors.
Due to increasing tourist flows, Athens is investing some 1.3 billion euros of EU funds toward the upgrade of its transport grid with a time frame to 2020. A highlight will be the direct metro link connecting the port of Piraeus – the main gateway to the Greek islands – with Athens International Airport at only 55 minutes travel time.
In view of these developments, analysts are expecting property prices to rise in the neighborhoods near metro stations.
“Property prices cannot be expected to rise sharply in the center of Athens as the price per square meter there is already higher than in the other city neighborhoods,” said Alina Churikova, Tranio project manager for Greece, but “the situation is different with more remote neighborhoods such as Piraeus, Galatsi or Kypseli – price growth of 20-25 percent is possible there,” she said.