Redevelopment

The more than 60-year saga of the Faliro Bay redevelopment appears set for more delays.

This is because the Region of Attica, which has been granted the land, is discussing the possibility of the remaining works of the redevelopment to be included in the "New European Bauhaus" initiative as one of its emblematic projects.

The return of foreign buyers, redevelopment projects and expectations due to metro extensions are seen as the main driving forces behind the rise in asking prices in 2022 for real estate in central, northern and southern Athens.

Another factor is the effort of many Greeks to get ahead of the curve in buying property before interest rates rise to a prohibitive level.