The 7 Biggest Hidden Risks in Older Apartment Buildings (1960–1990)

Older apartments in Greece can offer strong investment potential — but they also hide serious risks. Here are the 7 most common pitfalls in buildings constructed between 1960 and 1990, and how to identify them before buying. Between 1960 and 1990, Athens saw the construction of most of its apartment buildings. This era left behind thousands of older units — many of which appear attractive due to price, location, or renovation potential. But older buildings can also hide dangerous pitfalls that end up costing far more than expected. Here are the 7 biggest risks every buyer and investor must evaluate.

REAL ESTATE INVESTMENT

Christos Boubalos - poli.gr

12/6/2025

1. Poor sound insulation — the invisible problem

Buildings from this period typically have:

  • thin concrete slabs,

  • minimal insulation between floors,

  • outdated window frames,

  • noisy elevator shafts or service ducts.

The issue:
Noise problems are extremely hard to fix.

If sound enters from:

  • neighbors,

  • the street,

  • the stairwell,

  • the elevator machinery,

the apartment will always suffer in value, comfort, and rental demand.

Tip:
Visit the apartment morning and afternoon — noise levels vary dramatically.

2. Old electrical installations — outdated and unsafe

Electrical systems from 1960–1990 often include:

  • obsolete wiring,

  • insufficient load capacity for modern appliances,

  • missing safety switches (RCD),

  • old distribution panels.

Upgrading may require:

  • wall chiseling,

  • rewiring,

  • a cost of €2,000–€5,000 or more.

Tip:
Request a full electrical inspection before purchase.

3. Moisture and ageing plumbing — the most expensive hidden danger

Common problems in older buildings:

  • rusted or outdated vertical pipes,

  • leaks behind tiles,

  • moisture trapped in wall cavities,

  • recurring damp spots even after renovation.

Cost to fix:
€2,000 to €15,000, depending on severity.

Tip:
Inspect ceilings, bathrooms, kitchens, wardrobes, and balconies.
Moisture always leaves a trace.

4. Old windows and frames — energy loss and noise

Most buildings from this period still have:

  • single glazing,

  • outdated aluminum frames,

  • no thermal break,

  • gaps that allow noise and drafts.

Result:

  • high energy bills,

  • poor sound insulation,

  • reduced comfort,

  • lower resale value.

Replacement cost:
€3,000–€10,000 — an important investment that instantly improves value.

5. High building fees due to old elevators or heating systems

Aging buildings frequently have:

  • old elevators with high maintenance costs,

  • central oil heating systems,

  • inefficient boiler rooms,

  • poor insulation that increases shared expenses.

This leads to:

high monthly building fees = lower rental demand.

Tenants avoid apartments with:

  • €120–150 monthly shared costs,

  • unreliable heating,

  • outdated systems.

6. Structural wear — especially in buildings from 1960–1980

Older buildings were constructed under:

  • outdated seismic codes,

  • lighter reinforcement requirements,

  • inconsistent supervision standards.

Most are safe — but some have hidden issues.

Signs to check:

  • cracks in beams or columns,

  • movement in load-bearing walls,

  • uneven floors,

  • visible stress points.

Tip:
Always involve a structural engineer for pre-purchase inspection.

7. Poor building management — the silent value killer

Even a great apartment suffers if the building is poorly managed:

  • unpaid building fees,

  • zero maintenance culture,

  • neglected common areas,

  • internal disputes among residents,

  • dirty entrances and stairwells.

The building’s “image” affects:

  • value,

  • rental demand,

  • buyer psychology.

A neglected entrance instantly reduces the perceived value of the apartment.

Conclusion: Older apartments can be great opportunities — but only with the right due diligence

Buildings from 1960–1990 offer strong investment potential, Poli Real Estate can assist you in selecting the right apartment
with:

  • technical inspections,

  • electrical and plumbing checks,

  • moisture evaluation,

  • renovation budgeting,

  • structural verification,

  • assessment of management and shared costs.

With the right expertise, an older apartment can become a high-value asset.
Without it, it can turn into an expensive mistake.