PM8
CITY ROMANCE
THE APARTMENT
This apartment was an investment acquisition in the booming area of Pagrati near the city center. It was a first-floor apartment that needed extensive renovation, with an incredible façade towards the large park area that exists right in the front. Ideal for the busy bachelor who works downtown and for a small family that wants to be conveniently settled near the city center. Its overall size is 73 sqm, and has two bedrooms, open plan kitchen – living room area, solid wood flooring and fully autonomous heating. A real gem and an apartment that can safely provide excellent rental yield returns.
LUXURY FEATURES
- Minimal Design
- Park Views
- On foot Downtown proximity
- Quiet and practical neighborhood
BUSINESS MODEL & NUMBERS
The business model behind this apartment was ideal for the hot sector of Golden Visa candidates that the Greek market offers (250,000 € is needed to obtain Golden Visa, the most economical in Europe). The apartment was purchased and underwent a thorough renovation that had a great result both ergonomically and aesthetically with the intention of making it a hot product for the Golden Visa market due to its location and great investment potential. The expected generated profits range from 40% - 50% while the attained rental yields are from 4% - 4,8% (after taxes).
THE NEIGHBORHOOD
The neighborhood is the epitome of being a breath away of the buzzing Athenian city centre lifestyle yet still manage to escape to a more serene environment that the neighborhood offers. The square that opens up in front of the building's doorstep allows the apartment's guests to see the romantic changes that the seasons offer. The small family owned businesses that surround the square give an energy and an every day life of an older era; one could easily describe it as part of a film set.
All of the everyday amenities are within a few meters, banks, grocery stores, commercial stores and ofcourse easy connectivity to the city center and the rest of the town via public transfer mediums. Pagkrati is the new artistic atmosphere of Athens, its Soho area, full of energy and excellent vibes without the craziness of tourists, pure local, pure modern urban, pure Athenian.
