Varkiza, a picturesque coastal suburb located in the southern part of the Athens Riviera in Greece, blends its rich history with contemporary luxury living. The area, inhabited since the ancient times, boasts historical sights such as the Temple of Apollo Zoster and the prehistoric settlement of Varkiza. Geographically, Varkiza is nestled between the more urbanized Glyfada and the serene Vouliagmeni, offering a unique combination of bustling city life and tranquil coastal charm. Its prime location, combined with the scenic beauty of its beaches and pine-clad hills, makes Varkiza an attractive destination for luxury property buyers.
Exclusive Property Market in Varkiza
The luxury property market in Varkiza is currently strong, with high demand and limited supply driving up prices and maintaining a stable investment environment. As buyers seek exclusive homes and apartments with stunning views and high-end amenities, the competition for prime real estate is intense. The current political and economic situation in Varkiza is stable, further bolstering its appeal as a secure location for investment. When purchasing a home in Varkiza, buyers typically pay a real estate commission of around 2-3%, while sellers pay about 2%.
Additional Costs and Taxes
Buyers should consider additional costs such as a 3.09% transfer tax on private properties, notary fees, and possible legal expenses related to construction inspections. Wealth tax is applicable for high-value properties, and sellers of second or vacation homes should be aware of capital gains tax implications. However, if the property serves as a primary residence, certain exemptions might apply. Corporate tax on profits for companies is at 24%, and income tax for residents ranges from 9% to 44%, depending on the income bracket.
Mortgage Requirements
Securing a mortgage for a luxury home in Varkiza typically requires a significant amount of own capital, with banks financing up to 70-80% of the property's value. Lenders often impose stringent income requirements to ensure buyers can comfortably manage mortgage repayments.
Prime Residential Areas
Some of the most sought-after residential areas in Varkiza include the northern parts close to Vouliagmeni, known for their stunning views and proximity to the sea, as well as the more secluded hillside locales offering privacy and expansive properties.
Accessibility
Varkiza is highly accessible by road, with the major thoroughfares of Poseidonos Avenue linking it to Athens and Glyfada. Although Varkiza doesn't have a direct rail connection, the suburban railway stations in nearby Glyfada offer alternatives. The bustling city of Athens is approximately a 30-minute drive away, while Athens International Airport Eleftherios Venizelos is about 20 minutes by car, providing domestic and international flight options.
Educational Institutions
Varkiza is in the vicinity of prestigious schools and universities, including the International School of Athens, the American Community Schools (ACS), and the University of Piraeus, ensuring quality education for families residing in luxury homes.
Living Environment
The natural environment of Varkiza is characterized by pristine beaches, clear blue waters, and verdant landscapes dotted with pine trees. The climate is Mediterranean, with mild winters and hot, dry summers, perfect for outdoor activities year-round.
Luxury Lifestyle and Amenities
Varkiza offers a range of sports and outdoor activities such as water sports, tennis, and yachting. The Varkiza Resort Yabanaki Beach and the nearby Astir Beach in Vouliagmeni are prominent venues. For shopping, the area houses high-end boutiques and designer stores, catering to those seeking a luxurious lifestyle.
Exclusive Dining and Entertainment
Renowned for its exquisite dining, Varkiza boasts restaurants like Sardelaki and Vive Mar, known for their fine cuisine and stunning views. Nightlife and entertainment options are elevated with spots like Island Club and boutique hotels offering sophisticated experiences.
Cultural and Historical Events
Varkiza hosts an array of annual cultural and sporting events, including the Varkiza Beachvolley Cup and local festivals celebrating Greek heritage. Art and cultural enthusiasts can visit nearby museums and galleries in Athens or enjoy the theatre scene in Glyfada and Vouliagmeni.
Healthcare Facilities
High-quality healthcare is available with hospitals and clinics such as the Asklepieio Voulas and private clinics ensuring residents have access to excellent medical services.
Public Infrastructure and Amenities
The public infrastructure in Varkiza is modern, with well-maintained roads, public transport links, and a variety of amenities including supermarkets, leisure facilities, and recreational areas, making it a convenient and luxurious place to reside.
With its combination of historical richness, natural beauty, and a vibrant luxury lifestyle, Varkiza remains an unparalleled destination for exclusive property investments.
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