Kypseli is one of the most popular and oldest neighborhoods in Athens and its name means bee hive as the area was once a rural area filled with thyme and pine trees. There is so much to see and do in this area that walking is the best way to explore this swanky neighborhood. The first thing one notices about Kypseli are the different architectural styles that range from neo-classical mansions to the modern Bauhaus designs, each structure exhibiting their unique architectural elements particularly those on the Fokionos Negri, a boulevard that follows a river from where it derives its name.
Why live in Kypseli
Every Sunday, the municipal market on the boulevard, Demotiki Agora, is bustling with events, small businesses and an organic food market. The market was built in 1935 and was almost demolished to make space for a parking lot. The residents of Kypseli fought against it and the market is now considered a listed building.
The people that live in Kypseli echo its diverse architecture. A mixture of African and Middle Eastern migrant communities have lived in Kypseli for at least two decades and have transformed this neighborhood into a vibrant, multicultural community. Restaurants that serve traditional Greek cuisine, Ethiopian food and Kurdish kebab happily exist beside ouzeries and shisha bars.
More recently, several artists from all over the world have set up their homes and studios in Kypseli. The famous Snehta residency was the first artist residency in Kypseli that has hosted many local and foreign artists including Eleanor Lines, a British printmaker who chose to live in Kypseli to set-up the Kypseli Print Studio that hosts regular print making workshops, residencies and events.
Kypseli is only ten minutes from the center of Athens and is easily accessible by bus or taxi.
Participate in an investment project with the Greek Golden Visa
One can live in Kypseli through the residency by investment visa program. The Greek Golden Visa is one of the most popular residency programs in Europe as it includes family members who are below 21 years of age and dependent parents or parent-in-law. It requires only a €250,000 investment in real estate and allows visa-free travel within the Schengen area. Residency in Greece is not required.
The benefits of the Greek Golden Visa allow for a good quality of life where one can enjoy the mild Mediterranean climate and food that has been found to be the healthiest in the world; high standards of education with the lowest tuition fees in Europe; and free access to the Greek healthcare system.
Process for obtaining the Greek Golden Visa
- Step 1 – Choose the property that will give the best return on investments whether for personal use or for rental.
- Step 2 – Orience will prepare the necessary documentation for the application process including the documents that need to be translated and /or legalized. Orience lawyers will sign the deed of sale on your behalf and apply for a tax declaration number.
- Step 3 – Payment can be made form your home country by simply transferring the amount from your bank account. Opening an account in Greece is not necessary.
- Step 4 – Travel to Greece will be necessary once the application has been processed for fingerprinting and an official photo. A temporary residence permit will be issued and will be valid until you receive your residence card.
- Step 5 – When the application for a residency permit has been approved, you will receive your residence card which is valid for five years.
Skopelou 43
Skopelou 43 is a five storey, newly renovated building with twelve apartments that is an ideal real estate investment for those who would like to avail of the Greek Golden Visa. It is located in Kypseli, one of the more popular neighborhoods in Athens.
The beautiful modern building is close to the main streets but secluded enough to be away from the noise and is ideal as a holiday rental particularly for single people, professionals and small families. It was designed in a way that the spaces are both functional and comfortable. The façade of the building faces south while one side of the building faces east. This configuration allows the apartment dweller to experience the Athenian sunshine and the fresh air that flows freely through the apartments. Each floor has only two units each that allow for privacy and space. All twelve units have their own balconies while the two units on the 5th floor also have terraces that look out to the quaint Kypseli area. The living areas average in size from 50 to 90 square meters and have ample space for storage.
Aside from the €250,000 cost of the unit, other expenses include 3,09% for taxes, 3% for local lawyer’s fees plus 24% VAT.
It is an ideal investment as it guarantees a 2% return on investment for five years.