Why Piraeus? Billions€ Upgrading Investment Plan Is Expected
📈 Piraeus Among Greece’s Hottest Real Estate Markets
The Greater Piraeus Area has solidified its position as one of Greece’s top three real estate hotspots, experiencing sustained growth in both property sales and rental prices since 2022.
One of the most notable surges occurred in the Center-Port area, where property values rose by 10% year-over-year compared to 2021. Surrounding suburbs also saw strong appreciation, reflecting increasing demand and investor confidence.
This upward trend is fueled by a wave of major infrastructure upgrades, most notably the opening of new metro stations in October 2022, enhancing connectivity between Piraeus, central Athens, and the airport.
Simultaneously, extensive urban regeneration efforts—including the redevelopment of former industrial sites, abandoned warehouses, and aging factories—are breathing new life into the area.
With multiple large-scale revitalization projects already underway, Piraeus is quickly transforming into one of Athens' most dynamic and promising districts for both investment and urban living.
Important landmarks
- World's largest vessel management company: V. Ships Greece Headquarters
- Piraeus Papastratos Office Area
- Famous University of Piraeus
- Karaiskaki Stadium: Largest football stadium and homebase for famous Football Club Olympiacos
- Well-known Olympic Games Venue, Peace and Friendship Stadium, and nearby sports area and Marina
- Brand New Piraeus Retail Park One of the Best Private Hospitals, Metropolitan Hospital
- Mikrolimano and Pasalimani Popular Marina and F&B Area
- Famous Stavros Niarchos Foundation Culture Center
🚧 Major Real Estate Investments Transforming Piraeus
The vibrant redevelopment of Piraeus—Greece’s largest port and a strategic urban hub—is well underway, with at least seven major real estate projects led by listed developers and private equity firms. Focused along Athens-Piraeus Street and its surrounding areas, these developments are in various stages of construction or completion, steadily transforming the district from a traditionally industrial zone into a modern landscape of offices, commercial centers, and urban resorts.
🏢 Key Projects Shaping the New Piraeus:
- Dimand’s Urban Regeneration of the Papastratos Complex
A flagship project repurposing the former Papastratos tobacco factory into a vibrant office and residential hub with distinctive retro-industrial design, blending heritage with functionality.
- Piraeus Tower
Now the second tallest commercial and residential building in Greece, this landmark development redefines the skyline of the port, offering premium office space and high-rise living with panoramic views.
- New Piraeus Courthouse
An ambitious 41,000 sqm judicial complex, designed to house both courtrooms and administrative services. Once completed, it will host around 310 judicial officers, 565 administrative employees, and up to 1,200 professionals working on-site daily.
- EOMMEX Redevelopment
A former 3,300 sqm warehouse, in use for over 80 years, is being transformed into a mixed-use facility with office space, residential units, and a modern medical services center.
- Viohalco Factory Conversion
The historic Viohalco industrial site will be revitalized into a multi-use urban destination, featuring offices, residences, a hotel, cultural and leisure facilities, and a technology R&D hub.
💶 Total estimated investment: over €150 million
With these transformative projects, Piraeus is rapidly emerging as one of the most dynamic real estate hotspots in Greece, blending port-city energy with modern urban living and commercial appeal.