Athenia Partners
Two studios in Gazi, central Athens.
€135,000 and €145,000. Rebuilt from the wiring out, furnished down to the kitchenware, in a neighbourhood mid-gentrification. Below are the numbers we would want shown to us if we were the ones buying.
The sixty-second case
Gazi sits between Technopolis and Kerameikos metro station — an old industrial district that has been filling in with galleries, cafés and renovated housing stock, still priced below Athens's postcard neighbourhoods. These are the last two unsold units in a building at Ierofanton 3 that the developer has taken back to the shell: new plumbing, new electrical, new kitchens, new flooring.
The honest pitch is not a spectacular yield — it is a small, real, finished asset in a European capital at a price that does not require a committee: a foothold you can use yourself, or let long-term until you need it. One buyer could take both units in the same building for €280,000 — live in one, let the other.
The units
| Apartment | Floor | Interior | Balcony | Price |
|---|---|---|---|---|
| B3 | 1 | 20.75 sqm | 5.25 sqm | €135,000 |
| C3 | 2 | 20.75 sqm | 5.25 sqm | €145,000 |
Same building, same footprint, delivered furnished. Both are subject to prior sale — write to us for current availability before you plan around either.
The numbers, honestly
The developer's brochure projects €600–785 a month in long-term rent — for the building's larger units. These two are the smallest in the building, so we discount: our estimate is €500–600 a month on a long-term tenancy, which pencils to roughly 5% gross before costs and taxes.
Rental estimates are ours, extrapolated from the developer's figures for comparable units; we will happily walk you through the workings and the live listings we check them against.
Questions we would ask
- Can I run it as an Airbnb?
- Plan as if no. Central Athens has a freeze on new short-term-let registrations through the end of 2026 under Law 5100/2024. Every figure on this page assumes a plain long-term tenancy — if anyone sells you these units on short-let income, walk away.
- Is roughly 5% gross actually good?
- It is ordinary, and we would rather say so. The case for these units is the entry price, the finished condition and the neighbourhood's direction — not a headline yield.
- When can I move in?
- Confirm the works status and handover timeline directly — we will put the developer's current answer in writing for you before you commit to anything. Purchase funds sit in a dedicated trust account rather than going straight to the developer.
- Who is the developer?
- Mila House, an Athens developer whose model is buying tired central buildings and reconstructing them end to end. This building is nearly sold out; B3 and C3 are what remains.
- What is your angle?
- We are introducers: the developer pays us on a completed sale and you pay us nothing. The only durable asset a two-person advisory has is being straight with you, which is why this page reads the way it does.
Who we are
Athenia Partners is a small advisory practice connecting international buyers with vetted Athens property. We are deliberately at the start: two units, one building, and a working method of publishing the discounts and caveats other people save for the second phone call. Nothing on this page is legal or tax advice — engage your own lawyer, and we will gladly work alongside them.
Talk to us
Tell us which unit interests you and what you would want to know. A person — not a sequence — replies within a day.
[email protected]