An investor approached us in search of the ideal property to invest in. However, their choice turned out to be less straightforward than it initially seemed.
Renty is an international company with offices in Greece and Cyprus, specializing in property development and management. At the end of 2024, we underwent a significant transformation, becoming a full-fledged development company. We handle every aspect of property development, from planning and construction to furnishing and management, delivering turnkey solutions for both short- and long-term rentals.
But that’s not all! If you’re considering purchasing a property, we can help you evaluate it professionally. Recently, a client approached us with a similar request, and our analysis uncovered some unexpected insights about their chosen property.
A client asked us to assess a property they were considering for passive income. They had selected a fully renovated apartment in the Kypseli district, covering 105 sq.m. — spacious, stylish, and in what seemed like a prime location:
It sounded like a great deal, but our client had some concerns. And they were right to be cautious.
What was the catch?
The apartment indeed had many advantages:
🔵 The renovation was completed and done to a high standard.
🔵 Spacious area — 105 sq.m., which is rare for central districts.
🔵 Attractive price per sq.m. — at first glance, a great deal.
However, behind the low price lay one key drawback: the location.
While the apartment is in a central area of Athens, it’s not entirely straightforward. Kypseli is like a Matryoshka doll, containing three distinct subdistricts, each with its own unique character. These areas are highly diverse, and some can even feel risky:
🔵 In some parts of Kypseli, urban life thrives with bars, restaurants, and a vibrant atmosphere — lively, but noisy. In others, it’s a quiet, hilly area that few venture into.
🔵 The district is mostly filled with older buildings, where the price per sq.m. is inflated due to proximity to the center. Meanwhile, newer buildings on the hillsides tend to be cheaper but are further from central locations.
🔵 Safety is generally not an issue in most parts of Kypseli, but there are certain local spots that are less desirable and can affect an investment’s appeal.
The AirDNA platform also highlights three subzones within Kypseli, each with unique ratings that vary significantly in profitability while showing similar occupancy levels.
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Take note of the map: areas located to the left of the red line can be less safe and, as a result, less suitable for investment.
The apartment our client selected could have been an interesting investment for rental purposes. However, it was located in one of the most densely populated parts of the Kypseli district. Locals tend to avoid this area due to safety concerns, making the income potential relatively low.
While the apartment had several advantages, such as quality renovation and convenient proximity to the university, its large size and relative distance from the metro could negatively impact its profitability. To achieve higher returns, we suggested considering properties in smaller sizes and proximity closer to key transportation hubs.
We also highlighted to the client that, from a market perspective, the Kypseli district can be divided into three distinct submarkets. Based on this insight, we recommended exploring properties in more promising parts of Kypseli.
Investing in Kypseli is possible, but it requires a thoughtful and informed approach. If you want to ensure your choice is not just an apartment, but a smart investment, we are here to help.
Curious to see what kind of properties we choose? Check out our selection!
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