ABOUT THE PANATHENAIC RESIDENCE
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Apartments and commercial units in the complex of The Panathenaic Residence in Kallimarmaro. Developer offers units for sale at favourable prices.
Nestled in the affluent area of Kallimarmaro, The Panathenaic Residence is a prime development with commercial and residential properties.
The building was erected back in 1980 and is fully maintained with the latest standards of elite housing construction. The Panathenaic Residence is divided into 3 zones:
ZONE A – 2 commercial plots on the ground floor
ZONE B – 4 one and two-bedroom apartments on the 1st and 2nd floors
ZONE C – 2 single floor 3-bedroom apartments on the 3rd and 4th floors
The design of The Panathenaic Residence includes marble features throughout the interiors and the exteriors, whilst wraparound balconies add even more sophistication to the entire look.
All in all, the development features 6 apartments of 65 sq. m–138 sq. m in excellent good condition and 2 retail shops of either 51 sq. m or 78 sq. ft. In addition, there is a small office of 8 sq. m. which can also be used as a storage room.
Thanks to its convenient location within the vicinity of the Panathenaic Stadium and the Goulandris Museum of Contemporary Art, The Panathenaic Residence is in high demand for acquisition both for long and short-term lease, as well as Airbnb rentals.
The minimum gross yield for a long term lease in the building ranges between 3-5%, whilst Airbnb rentals generate between 6-8%. The ROI will increase by at least 1 percentage point if the interior units are refurbished. The developer is offering buyers a standard refurbishment package for the interiors for an additional fee.
Another highly appealing perk of property ownership in The Panathenaic Residence is the eligibility for buyers to apply for a 5-year Golden Visa, which requires a EUR 250,000 investment, as of April 2023. Please note that from May 1st 2023 the minimum threshold will increase to EUR 500,000.
The Panathenaic Residence is surrounded by an excellent public transport infrastructure, essential facilities and a variety of leisure and dining options. Within walking distance, you will be able to easily reach the following destinations:
Market In
17o Gimnasio Athinas
OK Markets
Stelalab
F&B: Colibri, Soil, MYSTIC All Day, Vyrinis, etc.
Panathenaic Stadium
Philatelic and Postal Museum of Greece
Basil & Elise Goulandris Foundation
The exclusive complex is located within a radius of a 15-minute walk from the Panathenaic Stadium, National Gardens, Presidential Palace, the city centre and the Acropolis, making it an excellent location for tourists.
The Panathenaic Residence is also set in the international area, surrounded by a variety of embassies.
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