From the increasing costs of raw materials to the increasing need for energy upgrades, the construction sector has found itself amidst significant transformations. Contractors, engineers, and property owners face the challenges of a market balancing between high demands, fluctuating prices, and the need for sustainable solutions.
Renovation projects are constantly increasing in the cities, a fact highlighted by the large showing at the recent Build and Aluminum 2025 expos, as old apartments regain their value through environmental and operational upgrades. From Patissia to Maroussi and from Pagrati to Neos Kosmos, the urban landscape is filled with “Small-scale works permit” signs. Schools and other public buildings are renovated to reduce their energy consumption, while large-scale infrastructure projects, like the Metro, the Hellinikon, logistics complexes, and office remodellings are shaping a new investment map.
According to the latest ELSTAT figures, the “General Price Index of Materials for New Residential Buildings” was up by 2,5% in August, while in the 12 months between September 2024 and August 2025, the increase was 4%, lower than the respective 5,8% the previous year. The raised prices in electric energy, pipes, window frames, and radiators are pushing up the final costs, although the rate of the increase appears to be slowing down.
Despite fluctuations, construction remains one of the most active and strategic sectors of the Greek economy. After all, it’s directly connected to the transition to sustainable development: energy efficiency, materials recycling, smart homes, and bioclimatic design are all part of a new reality shaping market trends. Renovation is gaining ground against new construction, as small-scale investments are proven to be more flexible, targeted, and efficient. The current picture forms a mature basis for so-called “Smart Investing”, making investments that combine technical know-how, strategic thinking, and capitalizing on urban change.
Real estate – Smart Investing: Investing smartly in Athens, a city in change
After the sharp decline of the 2010s and the strong recovery of recent years, the Athenian real estate market is entering a phase of more mature and balanced development. As such, it offers an environment that creates new investment opportunities, with Smart Investing as the leading trend. It’s the practice of investing smartly in residences that are either renovated or constructed to provide strategic performance, energy efficiency, and full adaptation to the needs of modern urban living.
Based on the converging estimates from published studies, Athens remains one of Europe’s most attractive markets, combining high tourist interest, rising demand for short-term rentals, and steadily increasing interest from non-Greek investors. At the same time, the cost of living is competitive compared to other European capitals, making the city an affordable yet dynamic destination for residential investment.
Within this context, renovating old apartments has emerged as one of the most effective investment strategies. A 70s or 80s apartment can acquire new commercial value when it gets an energy and functionality upgrade, offering steady gains either within the long-term or short-term rental market.
Meanwhile, another dynamic Smart Investing option is student residences, which are becoming more and more relevant, as the demand for quality, fully-equipped apartments increases among Greek and foreign students alike. The recent legislative changes that opened up the education market to foreign institutions reinforce that dynamic, creating the need for new, modern housing units near education facilities or in areas with ease of access via urban transport.
The market also shows a clear preference for more compact, flexible apartments, suitable for one or two residents, as they combine space management, energy efficiency, and low operational costs. Such investments instantly cover actual, current urban living needs and contribute to rejuvenating the city through solutions to common challenges like the lack of affordable housing.
As highlighted by Erica Karianaki, head of marketing and communications for EPIKYKLOS, the market has matured to the point that a “smart investment” isn’t just buying property at competitive prices, but strategically using it to yield lasting value. “We have seen,” she adds, “how proper strategy, a trustworthy mechanism, and the collaboration between experienced teams can turn a simple residence into investment capital with added value.”
Ms. Karianaki also notes
Speed, financial management, technical aptitude, and transparency are vital to the end result. “At EPIKYKLOS, we have developed such a mechanism,” she adds, “that we can offer integrated 360° solutions from the design and construction to the after-delivery support, always adding value to the property.”
Athens changes, and so does how we perceive investing. The most successful moves today are the ones that combine functionality, energy efficiency, and pragmatic returns, with knowledge and strategy playing the most critical part.
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At EPIKYKLOS, we’re all fully aware of our responsibility to help future generations establish a solid foundation for researching and building their own innovative solutions.