Ekali - Kifissia - Dionysos

Nea Erythraia, an affluent suburb in the northeast of Athens, Greece, boasts a rich history with roots in Asia Minor. It was incorporated into Greater Athens in the early 20th century, drawing its name from the ancient city of Erythraea. Historically, it's known for its charming architecture and historical sights, such as the Agios Georgios Church, a symbol of the area's cultural heritage. Nestled amid verdant landscapes, Nea Erythraia offers a serene environment while being conveniently situated close to the bustling city of Athens.

The Exclusive Property Market in Nea Erythraia

Nea Erythraia's luxury property market remains strong, reflecting a balance between high demand and a limited supply of exclusive homes and apartments. The suburb's upscale neighborhoods are particularly sought after, with areas like Politia and Kastri leading the list of desirable locations. Despite economic fluctuations worldwide, the local real estate market benefits from Greece's overall stable political and economic situation, ensuring a secure investment environment.

Investment Considerations for Buyers

When purchasing a luxury home in Nea Erythraia, potential buyers should be aware of several costs beyond the property's price. The buyer typically pays a real estate commission of approximately 2%, while the seller pays around 2% to 2.5%. Additionally, buyers need to account for a 3% transfer tax, notary fees, and any legal costs associated with the transaction. It's advisable to also consider costs for construction inspections if the property is older or requires renovations. Nea Erythraia's wealth tax structure applies to private home ownership, influencing investment calculations.

Residency, Taxes, and Financial Insights

Residents of Nea Erythraia are subject to Greece's income tax rates, which vary based on income brackets. There is no capital gains tax for sales of primary residences under specific conditions, but profits made from selling vacation homes may be taxable. For those using corporate structures, the corporate tax rate in Greece is 22%. Creditors typically allow a mortgage loan-to-value ratio of up to 80%, depending on the applicant’s financial standing, making home ownership accessible for qualified buyers.

Proximity and Accessibility

Nea Erythraia is conveniently located approximately 18 kilometers from central Athens, making it easily accessible by road and rail. The region is efficiently linked by the Attiki Odos highway and metro system, allowing seamless commuting. It is also well connected to international travel, as it is about 30 kilometers from Athens International Airport (Eleftherios Venizelos).

Education and Institutions

Educational opportunities in and around Nea Erythraia are abundant, with reputable institutions such as the American Community Schools (ACS Athens) and the International School of Athens. These schools provide high-quality educational programs that cater to international standards, making Nea Erythraia an attractive location for families prioritizing education.

Luxury Lifestyle and Amenities

Nea Erythraia offers an enviable luxury lifestyle, featuring a range of high-end boutiques, gourmet dining spots, and exquisite nightlife venues. Residents can indulge in upscale shopping at various designer stores and savor fine dining at establishments like Varoulko or Eleas Gi. For entertainment, the area, though tranquil, benefits from the proximity to Athens' vibrant theater and art scene, including notable venues such as the National Theatre of Greece.

Natural Beauty and Outdoor Activities

The suburb is nestled in a lush landscape, offering numerous outdoor activities. The nearby Parnitha Mountain provides ample hiking and biking opportunities, while local sports clubs offer facilities for tennis, swimming, and more. The mild Mediterranean climate, characterized by warm, dry summers and mild winters, enhances the area's appeal for outdoor enthusiasts.

Healthcare and Amenities

Nea Erythraia is well-equipped with excellent healthcare facilities, including the nearby KAT Hospital and the Athens Medical Center, ensuring residents receive top-quality medical care. The suburb's infrastructure supports a high standard of living, with modern amenities, reliable public utilities, and a well-maintained road network.