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Hello everyone. A 24 apartment scheme in northern Athens with a pool and a rooftop jacuzzi. Today, from Neo Irakleio, Royal Boutique Collection.
Apartment types, current price range and location: see the project page
A 24 apartment scheme by Royal Investments Group in Neo Irakleio, on the Marousi border in northern Athens. The apartments are between 33 m² and 60 m², one and two bedroom. All are delivered furnished and equipped; there is a swimming pool, a rooftop jacuzzi and a residents' gym.
Prices
- Total 24 apartments, one and two bedroom
- Sizes: 33 m² to 60 m²
- Entry price: €250,000
- The developer's quoted range per square metre: 5,200 to 5,600 euro
- Projected gross rental yield: per year 3 to 4 percent
- Communal areas: swimming pool, rooftop jacuzzi, gym
- Completion: Ocak 2027, 20 months from contract to handover
- Delivered furnished and equipped, Golden Visa eligible
Royal Investments Group is a group developing housing around Athens. The presentation states 388 completed schemes and a portfolio of over 770 million euro. Those are the developer's own figures; on delivery record the thing to look at is the handover dates of the completed schemes.
Neden Royal Boutique Collection?
Boutique scale with communal areas. Most schemes in the 250,000 euro band in Athens are conversion buildings with no pool and no communal areas. Here, at a scale of 24 apartments, there is a pool, a rooftop jacuzzi and a gym; that is a differentiator both on the tenant side and on the buyer side at exit. The second point is the location: Neo Irakleio borders the Attiki Odos motorway, so the airport and the coast are connected by motorway, while the district itself stays quiet and settled.
- Attiki Odos motorway on the doorstep, connected to the airport and the coast
- OAKA Olimpiyat Kompleksi right next door
- The Mall Athens and Golden Hall a few minutes away
- St Catherine’s British School and the International School of Athens nearby
- Cafés, supermarkets and pharmacies a three minute walk away
Daily life
Neo Irakleio is a settled district on the northern axis of Athens. Everyday needs are met within walking distance; for shopping and eating, The Mall Athens and Golden Hall are a few minutes away. The parks and walkways of OAKA make up the district's green space. Because the building has its own pool, rooftop jacuzzi and gym, part of daily life happens without leaving the development.
Rental yield and tenant profile
The tenant profile is largely professionals working on the northern axis and families sending children to the international schools. The gross rental yield the developer projects is 3 to 4 percent a year; that is measured compared with central Athens schemes but within the band expected of a building with communal areas. Furnished delivery means it can be let from day one. When you work out the net yield, the service charge and the management fee both have to come off the gross rent.
Communal areas and specification
- Swimming pool
- Rooftop jacuzzi
- Residents' gym
- Turn key, furnished and equipped delivery
- One and two bedroom apartment options
Who is buying?
It suits an investor looking for a rent ready apartment with communal areas in the Golden Visa 250,000 euro band. The small apartments are designed to reach that threshold. For a buyer who wants to live in Athens, the quiet character of the district and the closeness of the schools may be what decides it.
Total cost: what do you actually pay when buying Royal Boutique Collection?
Greece has no stamp duty. Because these projects convert existing buildings, the 24% VAT that applies to new construction does not arise either; the buyer pays the 3.09% transfer tax instead. The table below is indicative, based on the starting price.
| Item | Amount |
|---|---|
| Property price | €250,000 |
| Property transfer tax (3.09%) | €7,725 |
| Notarial fees (1.70%, VAT included) | €4,250 |
| Legal fees and due diligence (1.24%) | €3,100 |
| Land registry (0.70%, VAT included) | €1,750 |
| Fixed items (engineer, E9, power of attorney, postage) | €684 |
| Approximate total | €267,509 |
If you will apply for a residence permit, state fees, the permit card and health insurance are calculated separately. For your own scenario you can use our Greece purchase cost calculator .
Risks and what to watch for
- Handover January 2027. An off-plan purchase; the money is committed until handover and the timetable can slip.
- Small floor areas. The 33 m² apartments are designed to reach the Golden Visa threshold; the tenant pool and the buyer pool on resale are both limited by that size.
- The yield figure is the developer's own. The 3 to 4 percent band comes from the presentation; work out your own figure with current local rent levels.
- The communal service charge. In a building with a pool, a jacuzzi and a gym the service charge is higher than in a plain building.
- The Golden Visa payment rule. The qualifying amount has to be paid in full before the application.
How does Royal Boutique Collection compare with the alternatives?
- Royal Piraeus Maisonettes: two duplexes in Piraeus, €360,000 and €370,000, 200 m from the metro.
- Flevas, Ilion: one apartment left, €280,000, with a three year rental guarantee.
- We have gathered the Golden Visa thresholds and the regional split in our Greece guide.
We can work out which scheme fits your goal together, based on your budget, your intended use and your exit plan. For current availability, floor plans and the payment plan at Royal Boutique Collection, get in touch with us.
Answers to the most common questions on this topic: Is Buying a Home in Athens a Good Idea?
