The Athens Riviera in Greece — a Place to Live and Invest in

The Athens Riviera comprises the southern suburbs of Athens, occupying the Saronic Gulf coast from Piraeus to Cape Sounion. It includes Palaio Faliro, Glyfada, Voula, Vouliagmeni and Varkiza. With their beaches, marinas, luxurious hotels, restaurants, boutiques and nightclubs these areas are equally popular with tourists and residents of the capital.

Investment Prospects

The Athens Riviera is set to become one of Europe’s leading luxury real estate markets in 2025. This coastal region attracts local and foreign investors from regions such as the United States, the United Arab Emirates and Northern Europe. People from other EU countries, as well as those looking to obtain a European residence permit through the Greek Golden Visa programme, are buying holiday homes here.

Property prices on the Athens Riviera are breaking records. According to Spitogatos, the average price per square metre in the first quarter of 2025 was 4,000 euros, higher than in other areas of Athens. This represents a 9.2% increase over the past year. Analysts cite economic recovery, supply shortages, the popularity of the residence permit programme for real estate, the development of tourism and infrastructure projects as the main drivers. Elite resort complexes, villas, shopping centres and marinas are being built here. The media has regularly covered the most high-profile projects of the last few years:

• The former Elinikon International Airport in Athens is being transformed into a smart city. Investors believe that this 8 billion euros project will become Europe’s largest example of urban transformation and attract more than a million additional tourists annually. The development will include luxury residential buildings, office space, retail outlets, cultural venues, a marina, and Europe’s largest coastal park.
• Large-scale modernisation of the legendary Asteria Hotel in Glyfada.
• The opening of the Four Seasons resort, which would take over the Astir Palace Hotel located in Vouliagmeni. Over €100 million has been invested in the 300-room Four Seasons Astir Palace Hotel Athens project, which includes an overhaul of the Astir Marina yacht club and Astir Beach, the construction of 13 villas and the Peninsula Park.
• The conclusion of a 150 million euros agreement between local authorities and the Aktor development company to renovate Palaio Faliro. The works include the renovation of Poseidonos and Syngrou avenues, the installation of a wastewater treatment system on the Cephissus River, the modernisation of its flood control system and landscape gardening.

Places to Live in

The Athens Riviera is also a good place to live comfortably and enjoy life. This part of Athens is favoured by those who value prestige and comfort.

Palaio Faliro

Palaio Faliro, a coastal district, a 10-minute drive away from the centre of Athens, is among locals’ favourite places for relaxation. It is always busy here, with Athenians and tourists strolling along the coast and bathing on the local beaches (one of the most popular is the sandy Eden). One of Athens’ largest harbours, Flisvos Marina, is located here.

Glyfada

Glyfada, the largest of Athens’ southern suburbs, is traditionally considered the capital's nightlife and entertainment hub. Glyfada is believed to be a prestigious neighbourhood, and many Greek celebrities — singers, actors and athletes — buy apartments here. One of the most popular places in Glyfada is the local golf club, Glyfada Golf Course.

Voula

Voula is located 3 km to the south of Glyfada. The suburb is known for its beaches: Voula A boasts a Blue Flag, which is only awarded to environmentally friendly beaches that comply with stringent safety and water quality standards, and Voula B is accessible for people with disabilities.

Vouliagmeni

Vouliagmeni, a suburb full of greenery with luxurious villas and the city’s best hotels, is located 30 minutes from the centre of Athens by car. One of the jewels of the suburb is the eponymous rockbound lake which is good for bathing throughout the year.

Varkiza

Varkiza is the perfect beach holiday destination. The local beaches have been awarded Blue Flags for their quality, and the watersports aficionados will find everything they need here (windsurfers will be particularly pleased).

Average prices for new builds in the Athens Riviera*

*Offers fall within the price ranges specified.
**At the time of publication, there were no new villas available to buy in Palaio Faliro.