Little Athens is a neighborhood, like any other in Athens and Greece, open to anyone with public roads, pedestrians and cycling lanes. Anyone can access the area without any restrictions. The various developments within Little Athens might have parts that are accessible to everyone (e.g., the retail component, such as supermarket, cafes, restaurants, bakery etc.) and other parts that are accessible only to the residents and their guests, in order to maximize their safety and privacy.

Little Athens is planned to be developed in the first two phases of The Ellinikon, since it comprises numerous urban blocks and covers a large area where this new and vibrant neighborhood will be developed. Phase 1 of Little Athens is planned to be completed in 2027 - 2028 together with the majority of the rest of Phase 1 projects of The Ellinikon.

Given the large scale and development phasing of Little Athens, there will be various construction companies that will be constructing the various projects within the neighborhood. The invitation, assessment and award of the construction companies will be the result of a rigorous and transparent tendering process to be held by Hellinikon SMSA, an 100% subsidiary company of Lamda Development SA, where local and/or international construction companies will be invited to participate, subject to the nature and complexity of each project.

Depending on the project, there might be certain amenities for the private use of specific apartments, such as private ground floor gardens, roof gardens, swimming pools or Jacuzzis. There might also be amenities that are for the communal use of all residents in a project, such as fitness area / gym, swimming pools or lounge areas. The above are included in the sale price of a property. With regards to the communal amenities, residents will need to cover all their operational and maintenance costs through the service charges that are split among all residents, typically on a monthly basis.

No, the layouts of properties cannot be modified either internally or externally. The property will be constructed according to the layout shown in issued building permit.

No, the material and finishes of the apartments and building are set by the architect in order to achieve the desired aesthetic and architectural result, therefore, they cannot be modified by the Purchaser. In some cases, buyers might be able to choose different materials from a pre-defined list prepared by Hellinikon SMSA, that may come at an extra cost. This extra cost will be communicated to the buyers to make their choice.

The property and the communal areas of the building shall be fit for use and occupancy. Furthermore, the plot where a building sits will be accessed through a structured and functional road network.

Please click here to review the Residential Property Sales Process.

Purchasers are free to choose how they wish to purchase their property, either as individuals or via a Greek or foreign legal entity. The Purchaser can sign the Reservation Agreement either as individual or legal entity, in which case, the Sale & Purchase Agreement should be signed by the same physical/legal entity, or parent, child or spouse or a legal entity where the entity that signed the RA holds more than 50%.

No, there are no restrictions arising from the property itself or the Sale & Purchase Agreement (SPA) that would not allow a purchaser to apply for bank financing for the purchase of their property.

No, there are no restrictions in buying a residential property in The Ellinikon associated to the purchaser’s country of origin.

Once the property has been completed and handed over to its owner, the owner is free to dispose their property at will without any restrictions.

There might also be limitations on the minimum time for renting out a property according to the HOA Bylaws, aiming to safeguard the privacy of the residents and the exclusivity of the project. The majority of the projects in Little Athens are not expected to have any restrictions on minimum rental period.

Yes, the buyer of a property in The Ellinikon can apply for a Golden Visa, according to the current legislation, where the minimum value of the property is €800,000.

Yes, there is a payment plan in place since all our residential projects are sold off-plan. To reserve a property, the purchaser pays the reservation fee (typically 10% of the purchase price). Then, on signing the SPA, the purchaser pays another 10%-15% of the purchase price, followed by regular instalments which are based on achievement of predefined construction milestones of the project. Typically, each instalment is paid every 5-8 months (approx. 6 months on average) and ranges between 10% and 20%. The last instalment is paid upon handover of the property to the Purchaser.

Yes, parking spaces and a storage room are included in the sale price of a property depending on its typology (number of bedrooms). Typically, 1 bedroom apartments come with one (1) parking space, while the larger ones with two (2) or three (3) in some cases. These parking spaces are at secured below ground levels with direct access to the buildings. In some projects, there are also some visitors parking spaces within the plot. Outdoor parking spaces for guests and visitors can be found on-street in the wider area of Little Athens. Also, a storage room on basement level is also allocated to each apartment, the size of which varies depending on the apartment’s typology.

The method of payments of all amounts is via bank transfers to the Seller’s bank account. The Seller may accept bank cheques only for the instalment paid upon signing of the SPA. The only proof of payment of any amount is the bank statement of the Seller’s bank account.

No, all purchases of residential properties in The Ellinikon are exempted from VAT until the 31/12/2025.

The associated transaction costs of the property purchase are in the range of 4%-5% and include: (a) the property transfer tax plus a municipal tax (3.09%), (b) the notary fees (typically between 0.5%-1%), and (c) the registration costs at the Cadastral Office (typically between 0.5%-1%). All these costs are calculated on the higher amount between the sale price and the objective value of the property, and are born by the Purchaser. Apart from the property transfer tax that must be paid a few days prior to signing the SPA, all other fees are typically paid after signing of the SPA. It should be noted that buying-side legal and agency fees may apply and are freely negotiable between the purchaser and his advisors.

In every building/project there is typically a property manager appointed according to the HOA who has the operational and financial management of that building/project. This ensures that everything runs smoothly in the building/project, the rules and regulations are being properly followed, as well as the cleaning, maintenance and payment of all bills is taking place on time and to the desired standards.

Yes, similarly to the majority of residential developments in Athens and Greece, service charges will be applicable and will need to be covered by the residents of a building/complex to cover all expenses related to the operation, management and maintenance of the common areas of that building/complex. Typically, service charges include utility bills (electricity, water, sewage etc.), possible services offered (e.g. landscaping, pool cleaning etc.), maintenance, management fee of the property manager and other. Service charges are typically paid monthly in arrears. A service charge guarantee and a general reserve amount might be also applicable to cover possible payment delays and unforeseen expenses that require urgent attention respectively.

It should be noted that a residential owner does not pay for any service charges related to areas outside the boundaries of the specific residential project where his property is located. Also, all costs related to the operation and maintenance of private areas of a residential unit, such as private pools, gardens, the apartment itself etc., are paid by the owner/resident of that unit. Finally, any possible a-la-carte services are paid separately and not through the communal service charges, as described above.