An increasing number of American investors are looking to Europe for permanent residency. Economic and political uncertainty in the United States, rising costs, and high taxes are the main drivers behind this trend. Many Americans also seek better career prospects, educational opportunities, and retirement options abroad. Over the past five years, the number of U.S. citizens expressing interest in relocating to Greece has risen by 40%.
According to Kathimerini English Edition, the number of American investors granted Greek residency permits has surged by nearly 50% within a year—353 applications were approved in August 2024 compared to 240 in August 2023. Many investors also view Greek citizenship as a long-term goal.
Foreign demand for property in Attica and Athens has grown by 12% year-on-year. Currently, 75% of Greece’s Golden Visa program applications are tied to this region.
This trend is primarily driven by changes to Greece’s Golden Visa requirements. From 1 September 2024, residency permits in Attica require purchasing property of at least 120 m², valued at at least €800,000. However, properties converted from commercial to residential use maintain a lower investment threshold of €250,000 in Attica and across the country.
For many investors, Athens and its suburbs remain a top choice. Capital property prices are rising three to four times faster than the national average. For those seeking a quieter environment with easy access to the capital’s amenities, the suburbs of Athens offer the perfect balance.
This article highlights the best suburbs of Athens for living and business.
Glyfada is an exclusive seaside resort in Attica, just 12 km from Athens. It ranks among the most prestigious and expensive suburbs in southern Athens. The area offers everything for a luxurious lifestyle—breathtaking natural scenery, some of Greece’s finest beaches, golf courses, yacht clubs, vibrant nightlife, and excellent infrastructure.
Glyfada has become increasingly popular with international investors and affluent buyers. Real estate here promises stable returns and provides a private Mediterranean residence.
Glyfada is divided by Vouliagmenis Avenue, which connects the suburb to Voula in the south and central Athens in the north. The nearest metro station, Elliniko, is just 2 km away, offering quick access to the city. Glyfada is also served by tram lines T3 and T5, as well as a 25–30-minute drive to Athens. The Eleftherios Venizelos Airport is only 17 km away.
Often called the “jewel of Attica,” Glyfada features Blue Flag beaches, fine-dining restaurants, and luxury hotels along its glamorous waterfront. It is also home to Greece’s oldest golf course and one of the most exclusive marinas: Flisvos Marina.
The suburb attracts high-profile residents, including celebrities and international elites, who choose Glyfada for living and leisure.
Its infrastructure caters to every need, with schools, nurseries, gyms, fitness centres, shops, pharmacies, and private medical facilities.
Did you know that...
Over the past year, property prices have risen by 16%, while rental rates have increased by 32%
Highlights include the Hellenic Cosmos Cultural Centre, featuring a museum and theatre, and the Stavros Niarchos Foundation Cultural Center, a hub for arts and entertainment with an opera house, a national library, gardens, and canals.
Tamara Chetcuti
Head of Astons Athens Office
Kifisia is an elegant town located 14 km northeast of Athens, near the Tatoi Forest Nature Reserve and Mount Penteli. It is known for its lush parks, landscaped gardens, charming squares, and neoclassical mansions.
Kifisia embodies sophistication and serenity by offering a more refined and tranquil alternative to the capital. The town is home to art galleries, theatres, and open-air exhibitions, attracting artists, writers, actors, and musicians.
Kifisia is conveniently located along Highway 1, part of the E75 European route, providing easy access to domestic and international travel routes. The Kifisia and KAT metro stations connect the suburb to Athens’ historic centre in 30–35 minutes. The Eleftherios Venizelos Airport is 25 km away and accessible by taxi or suburban railway.
Key shopping streets, such as Kifisias Avenue, Kasaveti, and Kolokotroni, are hubs for premium shopping. They feature luxury boutiques, antique stores, jewellery shops, and fine-dining restaurants.
The suburb is also ideal for families, offering private schools, universities, playgrounds, parks, and top medical facilities. With salaries higher than the city average and living costs 10–15% lower than in Athens, Kifisia combines comfort and exclusivity.
Exclusive Astons Opportunity
Secure Greek Residency Within 6 Months From €250,000
Investors and spouses are allowed to include their parents in the application
Explore OfferProperty prices in Kifisia are 20–30% higher than in Athens. The average cost per square metre is approximately €4,000–4,500, while premium areas can reach €10,000 per m². Renting a three-bedroom apartment costs around €1,700 per month.
Kifisia continues to grow and develop, rivalling the Athenian Riviera in property price increases. It remains one of the most attractive investment options in the Athens metropolitan area.
| Data | Greece | United States | United Kingdom |
|---|---|---|---|
| Average property value (USD) | $200,000 | $200,000 | $200,000 |
| Average price P/Sq m (USD) | $1,000 | $1,000 | $1,000 |
| Property value change (last 10 years) | 10% | 10% | 10% |
| Average rental value (USD) | $1,000 | $1,000 | $1,000 |
| Average rental yield | 5% | 5% | 5% |
In October 2024, the average value of residential property in Turkey was around $ 110 000. The data is based on market analyses conducted by Endeksa.
Susanna Uzakova
Citizenship, residence permit and real estate investment expert
Must invest at least $400,000 in real estate or $500,000 in capital, government bonds, or a Turkish bank
Must invest at least $400,000 in real estate or $500,000 in capital, government bonds, or a Turkish bank
Author
Tamara Chetcuti
Head of Astons Athens Office
Astons’ real estate and investment migration expert for Greece and Malta. Tamara leverages an advanced academic background in Innovative Management along with an extensive expertise in international real estate to the benefit of Astons clients. As an industry insider in the EU, Tamara is constantly expanding her network of partners and real estate developers to provide our clients with a select choice of real estate paired with impeccable service and support.
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