The transformation story of a hidden gem in Piraeus
Finding a promising property that delivers stable and attractive rental yields is no easy task. But once you spot that rare gem among hundreds of listings, your journey is only beginning. A small apartment in Pasalimani is a perfect example. We asked our Head of Sales, Alexey Alexandrov, to share the story behind it.
From the outside, nothing stood out. A ground-floor apartment that seemed like just another forgettable listing.
“A standard layout, a tired interior, signs of age and many former tenants — a typical candidate you’d scroll past without thinking twice,” recalls Alexey.
A newcomer to the market might’ve skipped it entirely. In Greece, secondary market properties often come with baggage — unresolved debt, ownership disputes, or unclear titles. But an experienced agent knows: this is where potential hides.
“You’re right next to Marina Zea, in the heart of Piraeus — full of life, cafes, and luxury yachts. Yet just a few minutes away, you step into a peaceful residential street. A neighborhood with full infrastructure, but sheltered from the noise. The Acropolis is only 30 minutes away. But most importantly, the price was right — and the potential to create something unique: a compact rental studio where every detail counts,” Alexey explains.
The real estate market in Piraeus is evolving. Tourism is growing steadily, and rental demand remains strong. Apartments like this one — compact and full of light — are often the first to go.
Pasalimani apartment turned out to be a rare combination of advantages:
Key Financials
The property also qualified for the Greek Golden Visa Program.
The condition of the apartment could have easily scared off many buyers. But our team saw not obstacles — but opportunities.
.jpeg)
As you can imagine from the apartment’s original condition, the project began with a full-scale demolition:
Next came a targeted reconstruction phase:
The new space was designed around a rich combination of textures: terrazzo, wood, matte metal, and soft textiles. The interior is neutral — yet full of character. It’s perfectly suited for rental and requires no additional adaptation.
The color palette is minimalist, but far from boring — the material’s texture features natural inclusions that bring a sense of organic movement to the surfaces. Ceiling lighting, a built-in faucet, and understated accessories — each element is part of a cohesive composition.
The kitchen’s light wood veneer cabinetry adds a sense of warmth, especially in contrast with the graphite countertop and terrazzo flooring. LED lighting under the cabinets makes the workspace feel light and airy. All appliances are built-in, carefully chosen for reliability and function. The living space merges the bedroom and dining area, while still preserving clear zoning. Textiles — curtains, pillows, bedspread — extend the interior palette: white, cream, sand, emerald.
The floor is a warm graphite terrazzo that anchors the entire space and gives it personality. A special highlight: the sculptural mid-century floor lamp, curved and elegant — a soft finishing touch to the room’s overall expression.
The Neossikon Studio is what we call “smart luxury”: everything in its place, nothing unnecessary, and every detail serves the whole.
What began as a tired, characterless space is now a fully realized apartment where every detail contributes to a sense of calm and structure. This is a complete investment product — where architecture, business logic, and modern aesthetics come together.
The apartment is already live on the rental market: 🔗 View on Airbnb
Even in the most unremarkable listings, value can be created — with the right vision, precision, and follow-through.
Want to do the same? Just write to us.
.png){kind=spacer}
.jpg)
