Athens Neighborhood Developments Build on Decades of Planning Around Former Airport Site

The Hellinikon megaproject on the former Athens International Airport site now includes the Little Athens neighborhood, which will deliver approximately 1,115 residences in its first phase with completion targeted for 2027. This marks a concrete stage in Athens' shift toward large-scale residential redevelopment in southern districts.

Origins of the Current Phase

Planning for the €8 billion project at Hellinikon has positioned the site as Europe's largest urban regeneration area. Little Athens sits near the waterfront and incorporates designs from Greek and international firms including Bjarke Ingels Group along with over 100 street-level retail shops. These elements reflect decisions made over multiple years to convert the disused airport into mixed-use space rather than leaving it vacant.

Price Movements in Named Suburbs

Southern Athens suburbs near The Ellinikon, including Elliniko, Glyfada, Alimos and Voula, recorded 14% annual property price gains driven by the project scale, with forecasts of 4-7% annual growth through 2026. In parallel, active gentrification has taken hold in Kypseli, Exarchia, parts of Peristeri and Neos Kosmos, where prices rose 7-10% annually over the past two years and exceeded the citywide average.

Price Points in Little Athens

Initial apartments in Little Athens start around €6,500 per square metre, equating to roughly €350,000 for early units. These figures appear in project documentation tied to the first-phase residences and help explain buyer interest in the southern corridor.

Residents and buyers tracking these areas can review listings through established local real estate channels that cover Hellinikon-linked developments. Further phases at the site will determine how additional residences integrate with the existing retail and design framework already outlined.