Luxury Apartments in Athens for Sale: The Rise of a New Era on the Athens Riviera

The demand for luxury apartments in Athens for sale has surged over the past decade, driven by foreign investors, expats, and discerning buyers who recognize the city’s unique blend of Mediterranean culture, modern urban living, and long-term capital appreciation. At the heart of this transformation stands the Athens Riviera, a 70-kilometer coastline stretching from Piraeus to Sounio—now considered one of Europe’s most promising residential and lifestyle destinations.

Among the numerous upscale developments reshaping the coastline, one landmark project is emerging as a defining symbol of Athens’ new residential identity: “Falirikon”, an ambitious and elegant complex taking shape on the last major undeveloped seafront plot in Palaio Faliro.

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A Flagship Development on the Athens Riviera: Introducing “Falirikon”

With an investment exceeding €60 million, the “Falirikon” residential complex is poised to become one of the most important additions to the southern suburbs. Located on Poseidonos Avenue, directly opposite the sea, the project occupies the final untouched parcel of land in Palaio Faliro—one of the most desirable districts for luxury living in Athens.

The development is led by QG Investments, under the guidance of Qatari investor Mohamed Al Obaidly and renowned civil engineer Pantelis Apodiakos. Their shared vision goes beyond constructing another residential complex; it aims to introduce a development that elevates the neighborhood while respecting its identity and architectural rhythm.

According to Mr. Apodiakos, the team intentionally avoided exploiting the additional building allowances provided by the New Building Code. “Our goal with this investment was to respect the landscape and the surrounding area. That’s why we chose not to use the bonuses offered by the New Building Code, even though we had the option to build more square meters,” he states. This design philosophy ensures that Falirikon integrates harmoniously with the environment, promoting sustainable urban living while preserving the charm of Palaio Faliro.

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Design, Lifestyle & Amenities: Modern Luxury with Coastal Serenity

“Falirikon” will feature 70 residential units, each designed to reflect contemporary elegance and functionality. The architectural direction prioritizes openness, natural light, and thoughtful spatial flow—attributes that define the modern luxury apartment market in Athens.

Key highlights include:

• Large glass openings allowing for seamless indoor-outdoor living

• Private terraces with sea or city views

• Smart home systems and energy-efficient infrastructure

• Landscaped communal areas ideal for relaxation and recreation

• Underground parking and storage rooms

• Fitness and wellness amenities serving resident lifestyle needs

The development embodies the new generation of luxury housing in Athens—properties that provide elevated comfort, privacy, and a resort-like sense of living throughout the year.

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Why Palaio Faliro Is One of Athens’ Most Sought-After Locations

Palaio Faliro has transformed into a hotspot for investors seeking luxury homes in Athens thanks to its strategic location, excellent infrastructure, and coastal charm. It offers:

• Quick access to Athens city center and Piraeus Port

• Direct connection to the Athens Riviera beaches

• A vibrant mix of shops, dining, marinas, and parks

• Proximity to major redevelopment zones like the Ellinikon Project, Europe’s largest urban regeneration initiative

Given these factors, demand for luxury apartments in Palaio Faliro has dramatically increased, pushing property prices higher and ensuring strong long-term value growth.

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Athens Luxury Real Estate: A Global Investment Magnet

Athens continues to attract high-net-worth individuals from Europe, the Middle East, the USA, and Asia. Buyers are drawn by:

• Excellent price-to-quality ratio compared to other Mediterranean capitals

• Stable rental yields, especially for premium coastal properties

• Golden Visa eligibility, offering EU residency to non-EU investors

• Year-round tourism and rising international demand

• The rapid transformation of the city’s coastal zone into a modern luxury destination

Developments like “Falirikon” symbolize this evolution, providing a blueprint for upscale urban living that balances sophistication with environmental sensitivity.

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Opportunities for Buyers Seeking Luxury Apartments in Athens

Whether for primary residence, holiday home, or investment, the Athens Riviera offers unmatched possibilities:

• New-build luxury apartments with contemporary layouts

• Penthouse suites with private pools and panoramic views

• Beachfront residences steps from the sea

• Boutique low-rise developments in quiet coastal neighborhoods

Projects such as “Falirikon” stand out as future-proof investments offering both capital growth and exceptional lifestyle benefits.

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Conclusion

The creation of the Athens Riviera Falirikon development marks a significant milestone for the southern suburbs and for the broader market of luxury apartments in Athens for sale. With careful planning, respect for the local environment, and world-class architectural standards, the project is set to redefine modern coastal living in Greece.

As Athens continues its transformation, developments like this signal a bright and prosperous future—one where international investors, residents, and families can enjoy the perfect blend of urban sophistication and seaside tranquility.