The Art of Renovation in Northern Athens and One-Stop-Shop Service of Tranio Hellas: Why Investor Bought Apartment in Our Gounari Project
Tranio has been operating in the Greek property market since 2010, selecting homes for clients from trusted partners across different regions — both in cities and in coastal resort locations.
Since 2017, we’ve also taken on the role of property developer Tranio Hellas, offering a full turnkey service — from construction and renovation to residency permit assistance and property management.
One of our latest projects, Gounari in Agia Paraskevi (northern Athens), was successfully completed. We’d like to share the experience of our non-EU client, who bought an apartment in the development and benefited from Tranio’s end-to-end service.
Cosy Agia Paraskevi: why we chose this area for redevelopment
Our team focuses on locations that work well for both investment and comfortable living.
Agia Paraskevi is an affluent, green area in northern Athens, known for its clean environment and excellent infrastructure. With its parks, schools, shops, and restaurants, it’s an ideal place to call home.
Minimising risks with long-term lets
New-build properties in this part of the city are popular among well-off locals and expats, who value the peaceful setting, high standard of living, absence of tourist crowds, and convenience of nearby amenities.
Who’s likely to rent here?
- Staff from the Hellenic Broadcasting Corporation headquarters, just a 5-minute walk away.
- Employees of nearby medical and educational institutions, either within the neighbourhood or a 15-minute drive away.
- Workers at major international firms like Google, Microsoft, and Deloitte, which have offices in the area.
- Families with children, who prefer spacious apartments in quiet, leafy locations away from busy roads.
Stable and predictable growth in property prices
The property market in northern Athens is growing organically, unlike areas where price surges are artificially driven by short-term spikes in foreign investor demand — such as Piraeus.
According to Spitogatos, Greece’s largest property platform, Piraeus saw the highest growth rate of any Greek neighbourhood in 2024, with prices rising by 24% in a single year due to soaring foreign investment. This was largely because Piraeus previously offered an affordable Golden Visa threshold of €250,000. However, by 2025, this rapid growth has begun to slow.
In contrast, northern Athens has experienced steady price increases of 5–10% annually.
Quality of life: scenic nature, academic ambience, and transport links
Agia Paraskevi seamlessly blends lush greenery with a thriving cultural and educational scene.
Unlike central Athens’ uniform urban landscape, Agia Paraskevi boasts charming residential estates lined with cypress trees, fragrant orange groves, and well-kept streets with thyme and pine. Locals say the climate here is more pleasant too, with cooler summers thanks to the nearby mountains.
The area is also a hub for academia and culture. It’s home to the National Centre for Scientific Research Demokritos, the American College of Greece, the National Technical University of Athens, the French International School, the Lyceum of Eugène Delacroix, and numerous conservatories and art studios. For history lovers, scenic lookouts offer views of the ancient ruins of the temples of Zeus and Apollo.
Thanks to Metro Line 3, residents can reach Athens’ city centre and major tourist attractions in just 30 minutes. The international airport is a quick 20-minute drive away.
We compared our units with other properties in Agia Paraskevi listed on Spitogatos and found:
- One-bedroom apartments are priced 20–21% lower per square metre than competitors (€3,636—€3,683/m² vs €5,532/m²) while offering more space (54.3–55 m² vs 47 m²).
- Two-bedroom apartments have a 23% higher price per square metre, but this is justified by included parking, brand-new renovations (2024), and a larger floor area (77.7–83.8 m² vs 68–80 m² for competitors).
Building concept and full renovation
The Gounari project was completed in 2024 due to extensive renovation.
New-build properties are scarce in Athens, making refurbished older buildings an excellent alternative for buyers. Once fully renovated, these properties match the quality of new developments while offering a lower price per square metre.
The renovation involved:
- Stripping the building back to its reinforced concrete framework.
- Replacing all mechanical and electrical systems.
- Installing modern facades, roofing, windows, and entranceways.
- Redesigning internal layouts.
- High-specification interior finishes.
- Landscaping the surrounding grounds.
One of the standout features of this residential complex is its peaceful, private atmosphere. There are no busy roads or passers-by disturbing the tranquillity. Ground-floor apartments benefit from private patios or small gardens, perfect for creating barbecue areas, children’s play spaces, or even a private green retreat. These properties are particularly well-suited to families with children or pets.
Investor’s purchase: spacious apartment for rental income and European residency in 2024
Elvira Gracheva, Head of Tranio’s Greek Sales Department, recently assisted a client in purchasing a ground-floor property for 500,000 euros while securing Greece’s Golden Visa. This programme grants non-EU investors Greek residency rights, offering benefits like Schengen Area access and simplified EU banking.
This purchase had a unique advantage: the property comprised 2 two-bedroom apartments registered as a single cadastral unit, meeting the €500,000 investment threshold for residency under the previous rules.
This dual-unit arrangement offers exceptional value:
- Enhanced capital preservation.
- Potential rental income from one unit covering maintenance costs.
- Flexibility (one unit for personal use, one for income).
Our client secured his residency under the old regulations, completing his investment before the 31 August 2024 deadline (when the minimum was 500,000 euros in Athens).
New rules now require:
- €800,000 minimum in Attica and major islands.
- €400,000 elsewhere in Greece.
- Special exception: €250,000 for commercial-to-residential conversions or historic building restorations.
Tranio’s experts currently have qualifying projects available across all these investment tiers.
How we facilitated the lease agreement
We secured Blueground as the rental management partner for our client’s property. Under this arrangement, there is a benefit from guaranteed 4.5% annual yield for three years. This returns significantly above Athens’ market average.
Blueground is a leading property management company. Much like established hotel chains such as Marriott or Hilton, Blueground delivers consistent quality and service — but for long-term rentals. This ensures Gounari properties maintain strong rental demand while being kept in excellent condition. Their service includes not just high-standard accommodation but also value-added services like cleaning, transfers and food delivery.
Blueground exclusively selects quality properties in desirable neighbourhoods with excellent infrastructure.
New investment opportunities in Greece with Tranio
Greece’s Golden Visa remains Europe’s most affordable residence-by-investment programme. The minimum investment of 250,000 euros applies to specific property types, as mentioned earlier. Meanwhile, Spain closed its Golden Visa scheme in April 2025, Portugal and Hungary have already removed their property investment options.
We recently launched the new renovation project Filosofia in central Athens that qualifies for the exclusive €250,000 Golden Visa option.
Tranio comprehensive service package
Our end-to-end solution covers every aspect of your investment:
- Property development and renovation: in-house construction expertise.
- Property management and rental assistance.
- Remote transactions handled by legal professionals.
- Greek bank account setup.
- Residence permits for the entire family.
Speak with our experts to explore your options.
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