2-room flat to be refurbished, first floor, Center, Neo Faliro

Property Code: 7-300. In a tranquil pocket of Neo Faliro, mere footsteps from the Metropolitan Hospital and the pulse of the Peace and Friendship Stadium, a compact flat awaits its next director. Where the electric railway meets the tram and the stands fill with roar, this 55 sqm canvas is primed for transformation—ready for the owner who thinks like an investor. An entry price rarely seen in the district. All that’s missing is your blueprint. Low entry, clear strategy, proven demand. You bring the renovation; the neighbourhood delivers the return.
This is the kind of deal the cool-headed favour: fair pricing, quiet block, perimeter greenery, and major landmarks within walking distance. The property needs work—that’s precisely why it’s worth it. Craft your own before-and-after in a location that rents tomorrow.
The Property
A 55 sqm first-floor flat in a 1976 five-storey block with generous landscaped grounds. Clean, serene entrance; common charges ~€10/month.Living room 4.70 × 6.21 m with access to 3 × 2 m balcony – perfect for redesign Bedroom 3 × 5 m with secondary balcony 1.40 × 0.75 m Bathroom 1.55 × 2.85 m Separate kitchen opening onto the same rear balcony (new door November 2025)Marble floors in living-hall-bedroom; tiles in kitchen-bathroom. Everything requires renovation. The buyer knows this—the price reflects it.Brand-new EUROPA aluminium frames (energy-efficient, thermal-break, with screens) being installed as you read these lines – an instant premium asset.
No heating (central system disconnected), but natural gas on-street → individual boiler or A/C heat-pump ready.
Energy Class Z (pre-renovation & pre-windows).
100 % transfer-ready paperwork – immediate closing.
Why It Stacks Up
Entry PriceNeo Faliro average (Oct 2025): €2,818/sqmThis flat: €2,272/sqm → ~20 % below marketPeak MarketApril 2025 high: €2,851/sqm
The market is elevated—this is priced honestly low.Rental Yield
Post-renovation: €600–650/month easily achievable thanks to proximity to: Metropolitan Hospital SEF Stadium Electric railway Tram Karaiskakis Stadium Coastal boulevardLow Budget → High Upside
~€30,000 renovation turns it into a turn-key rental machine.
Professional Use
The block already hosts practices; Metropolitan next door creates constant demand—ideal for therapists, lawyers, psychologists, small clinics, start-ups, or creative studios.
Location Alpha: Neo Faliro on Foot
One word: accessibility. 100 m Metropolitan Hospital 250 m SEF & tram 350 m Faliro electric station 450 m Karaiskakis Stadium 5–7 min coastal frontMarkets, cafés, supermarkets, pharmacies—all within 2–4 minutes.
One of the few Piraeus zones blending quiet streets, greenery, sky-high demand, nodal position, and zero remaining stock.
With the former AIGAION cultural centre redevelopment underway, the upward trajectory is locked in.Investment Playbook – 3 ScenariosBuy–Renovate–Rent (Long-Term)Purchase: €125,000 (non-negotiable)Renovation: €30,000 Total: €155,000 Rent: €620/month Net yield ~4.8 % in a bullet-proof southern rental zoneBuy–Renovate–FlipRenovated 55 sqm average: €2,850/sqm → €156,750 With sharp design: €165,000–€170,000 realistic exitBuy–Convert to Professional Suite
Perfect for healthcare, legal, psychology, engineering, or creative studios. The Metropolitan corridor is Piraeus’ highest-demand professional cluster.If you’re hunting a project that makes sense on spreadsheets and in real life, this is it. Small footprint, outsized potential. Neo Faliro appointment with PANTOU REALTORS– book your viewing, walk the space, visualise the use, lock in the return.