Launching a Development Platform in Greece

Hi everyone,

I am currently assessing the setup of a real estate development activity in Greece, with an initial focus on Athens and the Athens Riviera.

The strategy would mainly target residential development opportunities, including land plots, existing buildings with redevelopment potential, unfinished/distressed projects, and potentially small hotel/residential repositioning opportunities.

Target areas currently under review include Glyfada, Voula, Vouliagmeni, Vari, Elliniko, Alimos, and selected parts of central Athens.

I would be interested in hearing from anyone with practical experience in the Greek real estate market, particularly around:

• Land acquisition and off-market sourcing
• Planning / zoning / entitlement processes
• Construction cost and contractor reliability
• Typical development margins and sales absorption
• Legal, tax, and SPV structuring considerations
• Key risks for foreign developers entering the market
• Quality of local brokers, architects, contractors, and advisors

The goal is not to get legal or tax advice through the forum, but rather to understand the practical realities of operating in the market from people who have actually been involved in transactions or development projects in Greece.

Any insights, lessons learned, or recommended contacts would be very helpful.

Thanks in advance.