In an area where the amount of available real estate for sale is constantly decreasing, this building represents a rare investment opportunity with high returns. It is ready for immediate occupancy without additional costs for planning and renovations. This fully restored neoclassical building from 1910 is located in the heart of Psirri. The renovation, done using high-quality materials and aesthetics, was completed in 2020, and since then the building has been operating as a hotel. The total area of the building is 600 sq. m, housing 8 apartments. Specifically: - on the ground floor, two apartments with separate entrances measuring 45 and 65 sq. m - on the 1st floor, two apartments measuring 52 and 65 sq. m - on the 2nd floor, two apartments measuring 65 sq. m and two apartments measuring 65 sq. m - on the 3rd floor, two apartments measuring 95 and 85 sq. m Psirri is one of the oldest neighborhoods in Athens. The first historical records of it date back to 1687. It is located in the historical center of Athens near Monastiraki. Like all neighborhoods in the city center, it has undergone many changes that have been reflected in its architectural appearance. Neoclassicism and Athenian modernism coexist in a unique way, especially in buildings that used to house small factories and shops. The modern Psirri neighborhood is a gathering place for all creative communities in the city, such as artists, musicians, and designers, who often open their studios here, and of course, along with its cafes, restaurants, and bars, it attracts tourists. This is a must-visit spot in the Athens nightlife.
Characteristics
Property type
Residential Properties
Object type
House
Price
3 190 003 $
Services and facilities
Furniture
FAQ
How can I get a residence permit by buying property in Greece?
In Greece a residence permit is typically issued based on a minimum investment threshold. Applications are reviewed within 30–60 days in Athens; you will need a passport, proof of funds, and the ownership documents. Hatamatata helps prepare and submit the paperwork.
Is a mortgage available for non-residents in Greece?
Banks in Greece finance 50–70% of the property value for non-residents with rates of 3–5% for 20–30 years. A life insurance policy and a 30–40% down payment are usually required. Terms and programs vary by city and bank.
What taxes and fees apply when buying in Greece?
Expected expenses: transfer tax 0–15%, registration 0.5–2%, notary 0.5–1.5%, agent commission 0–3%. In total 2–20% on top of the purchase price. Exact rates depend on region, property type and programs.
How is the title checked in Greece?
A title search at the land registry of Greece takes 10–15 business days. You receive ownership, encumbrance and tax clearance certificates. Documents are translated and reviewed by a lawyer before signing.
Can I rent out property after purchase in Greece?
Yes. Rental income tax is 5–25% depending on the regime. In Athens short-term tourist rentals typically yield 5–8% per year. Municipal permission and income registration are usually required.
Is a property inspection recommended before purchase?
Yes. An inspection costs about 0.5–1% of the price (3 190 003 $) and covers structure, utilities and legal status. Hatamatata arranges a qualified engineer with an EN/RU report.
How long does the purchase process take in Greece?
A typical transaction runs 30–90 days, averaging 45 in Athens: due diligence (10–15 days), notarization (5–7 days), registration (10–14 days), residence permit (30–60 days, if needed).
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