New apartment with a 7.5% yield in the coastal area of Paleo Faliro, Athens, Greece

90,000 €

2,093 € /m²

Total area
43 m²
Bedrooms
2
Bathrooms
1
Yield
7.5 %

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Features

1 floor
Annual income: 6,705 €
Sea at 500 m
Balcony or terrace

We offer a buy-to-let apartment of 43 m².

The apartment is suitable for a long-term rent (400-450 euros/ month), and for a short-term rent for tourists (35–50 euros/ night, depending on the season).

Extra opportunities

We can help you get a Golden Visa (permit without tax residence) when buying a property worth €250,000 or more.

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Advantages

Property is sold without commission to the buyer.

Full renovation of the property was made, including the replacement of all utility networks. Warranty — 2 years.

Documents for the property are ready, the transaction will take only 10–14 days.

Financial performance

Profitability — 7.5%

Anticipated income — 6,705 euros per year

Location

The property is located 500 meters away from the promenade and 200 meters from a tram stop, from where you can easily get to the city center.

The Acropolis is about 5 km from the apartment, the airport is 30 km away (30–40 minutes drive).

Paleo Faliro is a prestigious coastal area. Here you will find many bars, restaurants of Italian and Vietnamese cuisine, a seafood tavern, as well as the first elite Flisvos Marina in Greece.

Property on the map

Location right down to the building, street or city
Panoramas

Virtual tour along the streets of the neighbourhood
Infrastructure

Shops, schools, transport and entertainment
Other properties

Other offers nearby

More properties

If this property wasn’t for you, take a look at other buy-to-let apartments for sale in Greece.

You can see more buy-to-let apartments for sale in Paleo Faliro elsewhere on our website.

How to buy property with Tranio

Enquiry

Send us an enquiry with an approximate description of the property or investment project you’re interested in.

Meeting the partners

After clarifying your enquiry, we will introduce you to our partners and/or local agents.

Offer selection

We will help you to select suitable options. Tranio does not charge a commission for this — the property price remains the same as if you contacted our partner directly.

Viewing tour

You then view the property or properties you have chosen. Our partners or agents from Tranio's European offices will meet you in situ.

Transaction closure

Having chosen the best property, you will sign the sales or investment agreement (for development).

FAQs

Can I get a mortgage abroad?

It depends on the country. For example, German banks willingly offer mortgages to foreigners at 1.5-2 % per annum with LTV up to 70%. Spain offers less favourable terms: the minimum rate for foreigners is 2.5% per annum. The situation is different in Greece: although the law does not prohibit banks from issuing loans, in practice, Greek banks don’t issue loans to local nor foreign property buyers. You can learn about the mortgage terms in your preferred country by contacting Tranio’s local agents.

How does the purchase procedure work?

The purchase procedure depends on the country where you buy property. Generally, after choosing a property you need to sign a preliminary agreement with the seller and carry out a due diligence of the property by checking the relevant documents and the property's technical condition. After that, all parties sign the sales agreement and the notary registers the transaction. As a rule, the purchase registration costs amount to approximately 10% of the property price.

Can a residence permit be obtained by buying property?

In some countries it is possible. Residence-for-property purchase programmes are known as Golden Visas programmes. Greece, Spain, Latvia, and Portugal offer the most popular Golden Visas in Europe. The Greek residence permit is the cheapest and can be obtained by buying a property worth at least €250,000, while organising all of the documents costs about €19,000. Certain countries offer citizenship to property buyers — for example, an investor can get their hands on a Cypriot passport by buying a property worth at least €2M.

Can I obtain income from a seaside apartment?

Yes. You can use the purchased property yourself for holidays and lease it to tourists for the rest of the time. To avoid the hassle of finding tenants and cleaning the property, it’s a wise idea to hire a management company to do all the work – these services usually cost about 20% of the rent. Take into account the length of the tourist season in the location you choose: in certain regions it will be easy to rent apartments out all year round, while in others it might only be possible to do so during the high season.

How does Tranio make money if your service is free for the clients?

We share the commission, which the buyer or the seller (depending on the country) pays to our partners — foreign real estate agencies. The price of this service is the same as if you contacted the agency directly — this is an important condition and applies to all of our partnership agreements.

Who guarantees the transaction security?

The transaction security is guaranteed by the notary who draws up the sales agreement and checks the information on the previous and current owners of the property, any outstanding restrictions, mortgage, and third-party encumbrances. Tranio is not responsible for the parties involved in the transaction.