Prime 1,120 Sq.M. Plot In Prestigious Palaio Psychiko With Approved 820 Sq.M. Build Potential

In a quiet, leafy street in prestigious Palaio Psychiko, this 1,120 sq.m. plot offers a rare opportunity for high-end residential development or an exceptional private residence in one of Athens’ most sought-after neighborhoods. Surrounded by elegant villas, embassies and manicured gardens, the property combines privacy, serenity and a distinctly upscale character, while remaining close to top schools, international institutions and the shopping areas of Psychiko and Filothei. With a street frontage of 22 meters and an ideal orientation, it allows for an impressive architectural presence and generous outdoor spaces.
The plot benefits from a building coefficient of 0.6 and a coverage ratio of 0.4. A demolition permit has already been issued for the existing older structure, and the urban planning approvals secured significantly enhance the development potential: the creation of a large basement area outside the main building footprint, as well as a 70 sq.m. attic, have been formally recognized, increasing the total buildable area to approximately 820 sq.m. This configuration makes the property particularly attractive to developers seeking a boutique residential project or an investor wishing to create a multi-unit building with strong rental or resale prospects in a prime address.
The proposed building study, which is offered together with the plot, foresees three above-ground levels with a thoughtful and marketable layout. On the elevated ground floor, two spacious apartments of 140 sq.m. and 160 sq.m. respectively are planned, each enjoying exclusive use of private garden areas – an especially desirable feature for families and buyers looking for a house-like feeling with outdoor space. On the first floor, two more apartments of 140 sq.m. and 160 sq.m. mirror this comfortable layout, providing generous interiors, large openings and pleasant views of the green surroundings. The second and top floor is designed to accommodate an approximately 150 sq.m. apartment with an additional 70 sq.m. attic, opening onto very large terraces with a total surface of around 200 sq.m., ideal for creating an impressive penthouse with expansive outdoor living, dining and lounge areas.
For each apartment, the study includes two parking spaces and a large storage room, ensuring the level of practicality and comfort expected in this elite residential area. Altogether, this property represents a compelling proposition in Palaio Psychiko: a sizable, well-shaped plot with strong development parameters, ready-to-use planning advantages and a refined residential concept, in a location that seamlessly blends tranquility, privacy and immediate access to schools, embassies and local amenities