Why Renovation Is the Smartest Investment in Greek Real Estate

Greece’s property market is evolving fast. As the prices of new developments continue to rise, more and more buyers are turning to renovated or to-be-renovated apartments as a way to enter the market smartly. Renovation is no longer a compromise — it’s a strategic investment opportunity offering strong returns, lower entry costs, and long-term value growth.

REAL ESTATE INVESTMENT

Christos Boubalos - poli.gr

10/22/2025

1. Lower Entry Cost, Higher Potential

Buying an older apartment can cost up to 40% less than a newly built property in the same area.
With a well-planned renovation, buyers can:

Customize the home to their lifestyle.
Improve energy efficiency and comfort.
Increase the property’s market value by 20–30%.

💡 An apartment purchased for €150,000 and renovated with €30,000 can reach a resale value of €220,000 or more.

2. Stronger Yields for Investors

Renovated apartments offer higher rental returns and lower vacancy rates.
For investors, they represent the smart segment of the market — ideal for those who:

Have a capital of €100,000–€200,000.
Aim for annual yields of 5%–7%.
Prefer ready-to-rent properties with reduced construction risk.

📊 The cost-to-yield ratio is often more favorable than in new developments.

3. Urban Renewal and Neighborhood Growth

Renovations don’t just benefit owners — they revitalize entire neighborhoods.
Areas like Pangrati, Kypseli, Metaxourgeio, and Nea Ionia are experiencing new life thanks to the renovation of older apartment buildings.

This urban renewal leads to:

Stronger local economies.
Increased commercial activity.
Rising real estate values across the area.

🏙️ Every renovated home contributes to the rebirth of Athens’ urban core.

4. Energy Upgrade = Added Value

Beyond aesthetics, renovation allows for energy and comfort upgrades.
Replacing:

Old windows with energy-efficient ones,
Outdated heating and cooling systems,
Insulation and lighting,

significantly reduces bills and raises the property’s appeal to both buyers and tenants.

🔋 Energy efficiency is now a top priority for serious investors in 2025.

5. Flexibility and Personalization

Renovation means freedom of design.
Buyers can adapt layouts, materials, and finishes — creating a custom living space that reflects their personality while keeping the budget under control.

🎨 Renovation is not a compromise — it’s creativity turned into value.

✅ Conclusion

Renovation is the smart market of Greek real estate.
It offers strong returns, lower entry costs, and greater flexibility than new construction.
In a time when prices for new homes are climbing, well-executed renovations remain the most balanced and profitable path for investors and homeowners alike.

📞 Looking to Invest in a Renovation Project in Greece?

At POLI Real Estate, we specialize in property sourcing, cost assessment, and renovation management, guiding our clients through every step — from purchase to transformation.