By Joseph Kalaydjian, Founder & CEO, Cheez Hospitality
The first question every owner asks is "how much?". The honest answer is: it depends how deep you go. An Athens apartment can be made rentable in a fortnight or rebuilt in two months, and the budget moves by a factor of ten between the two.
Three depths, three budgets
Rental Ready, 1 to 2 weeks. The apartment is sound, it only needs to be furnished and equipped: essentials, linen, kitchenware, small appliances, decor, smart lock, compliance. No works.
Reposition, 3 to 5 weeks. Rental Ready plus a designed scheme: furniture, lighting and windows chosen to photograph well and rent higher. Still no works.
Full Conversion, 6 to 10 weeks. Reposition plus the works: floors, walls, doors, windows, electrical, plumbing, air conditioning, bathrooms and kitchen.
What a full renovation costs per m² in Athens
For a full renovation, works in Athens typically run between €600 and €1,200 per square metre, before furniture. On a 70 m² apartment that is roughly €42,000 to €84,000 of works. Kitchens and bathrooms take the largest share, and old electrical and plumbing are where surprises hide.
Most apartments do not need it all. 86% of the homes sold in greater Athens are more than 20 years old, but many have a sound structure and only need a kitchen, a bathroom, paint and light. The estimate visit is where you find out which.
Where the money pays back
- What guests and tenants pay for: a good bed, air conditioning, a washing machine, fast internet, a real workspace, blackout curtains, light.
- What they see first: the photographs. A designed living room and a clean bathroom move the nightly rate more than any premium finish.
- What they never notice: marble where tile would do, designer taps, built-in luxury nobody uses.
Energy upgrades such as new windows, a heat pump or insulation cut the bills you pay every month and lift what the apartment is worth as EU energy rules tighten.
How to keep the budget honest
- Goods bought at cost, against receipts in your name. The receipts archive is yours.
- Three quotes on every work, with photographs before anything is removed.
- A contingency of 10 to 15% of the budget, held by you, not by the contractor.
- One fee you can see: our execution fee is 20% of the budget, with nothing marked up on goods.
Furnish once, for short, mid and long term
We furnish to one standard, the higher one, so the apartment can switch between nightly guests, monthly stays and a long lease without being refurnished. The tenure that pays best changes with the season and the law. The furniture should not have to.
Get the estimate for your apartment
One visit, laser-measured, then a budget band within days. The visit is free.
Book the free estimate visit ·
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Want to know what it would earn after?
What property management costs in Athens.
This is general information, not financial, legal or tax advice.
Designed Living. Operated by Cheez.
