Different municipalities in Athens: the good, the bad and the ugly

Athens is a city of about 4 million people and lies between two mountain ranges and the sea. It offers greenery in its mountainous northern suburbs, a very busy centre with a dense built environment and areas built along the coast in the south.

Greater Athens is comprised of more than 60 municipalities. Some offer high-end housing and amenities, while others are considered as low class, low security areas to be avoided. Choosing a property in high-class area only by virtue of its name, however, does not guarantee that a property in that municipality is desirable. This is so since parts of these municipalities are good, other parts are bad and others still are downright ugly.

If we take Kifisia for example, these differences become starkly evident: a locality known as Kefalari is a beautiful, sought after mountainous neighbourhood commanding high property values, while Kato Kifisia and Nea Kifisia have parts (close to the National Motorway leading to Thessalloniki) which are characterised by low quality housing and industrial uses. Differences in values between the two can be threefold or more but they both belong to the municipality of Kifisia.

Skoufa Street is a road in central Athens and adjoins the renowned Kolonaki Square. Values around this square are sky-high. However, assuming that a property in Skoufa Street is desirable by virtue of the street’s name would be wrong; while the one end of the street adjoins the square, its other end lies an area known as Exarchia which is a low-end, low security area to be avoided.

This pattern is found in nearly all municipalities. So, how could one get a broad guideline when being introduced to various properties at various locations and neighbourhoods?

Athenians generally divide the city into the following:

1. Central Athens: this is where Acropolis, Syntagma Square, Kolonaki Sq., the Parliament House, the Presidential Palace and other well-known monuments and buildings are located. Not all of central Athens is good and distance from Syntagma Sq. can be an indication: the smaller the distance the better the neighbourhood.
2. The Off-Centre: these are areas around the centre with easy access to it. Some are very high-end neighbourhoods such as Palio Psychico while others such as Dafni are way less desirable and command much lower property values.
3. Northern Suburbs: this term is wide geographically, but it is taken to mean the high-end area of Kifisia which includes neighbourhoods such as Ekali. Politia, Kastri which are at the top end of desirability and values. Kifisia is situated on a mountain overlooking Athens is characterised by greenery and an easy way of life. The commercial centre of Kifisia is low-rise and quaint, offering a wide variety of shopping. The parts of this municipality though which lie close to the motorway are to be avoided.
4. Southern Suburbs: these are generally taken to be Glyfada, Voula and Vouliagmeni which are very desirable and command high property values, especially for property close to the beach. Glyfada has a rich commercial centre which is frequented by people who live along the coast. There are no ugly parts in these municipalities but important differences exist depending on the neighbourhood.
5. Eastern Suburbs: these municipalities have come into the fore with the operation of Athens Airport. Some are towns while others are large villages really. Some are in demand such as Yerakas which is closer to Central Athens, while others have not benefitted from the renewed interest in the city.
6. Western Suburbs: these lie west of the National Motorway cutting Athens from north to south. They are known for accommodating low-income groups and industrial uses. There are important differences among the municipalities and among different neighbourhoods within them. These suburbs are anticipated to benefit from the change in the threshold for property investments from €250,000-€500,000 under the Golden Visa Programme.

The new investment thresholds under the Golden Visa Programme are anticipated to affect the prospects and values of different municipalities.

You are referred to our special article on this matter.