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How Much Does a Renovation in Athens Cost? A Detailed Guide for Investors

Understanding the cost of a renovation in Athens isn’t always straightforward, but it’s a crucial question for anyone planning to update property here. To provide you with the most accurate and honest information, let’s start by considering the age of your property, as it’s the primary factor influencing the overall price.

Approximately 70% of secondary housing in Athens consists of buildings constructed before 1980, meaning they are now over 45 years old. Our focus will primarily be on renovating these properties, as they represent the most significant interest for investors and are typically in greatest need of extensive modernization.

Important Note: All prices provided are exclusive of the 24% VAT (Value Added Tax), which applies to services and materials in Greece.

Overall Cost of a Major Renovation

Broadly speaking, a comprehensive renovation of such an older property will cost you anywhere from €600 to €1200+ per square meter.

If you’re seeking a high-quality renovation without extravagant architectural “fantasies, ” utilizing good-quality, mid-range materials, your estimated budget should be €600-€800 per square meter of apartment space. This figure implies a complete, “turn-key” property update.

What Determines This Cost?

Properties of this age were typically designed according to the norms and lifestyle of their respective era. Their layouts often no longer meet contemporary demands for comfort and functionality. This frequently necessitates a near-complete demolition of internal partitions and a full apartment redesign.

The good news is: Most of these buildings feature a “structural frame” — a solid concrete skeleton — with internal partitions made of half-brick ceramic, approximately 10-12 cm thick. This design allows for the removal of internal partition walls, giving you the freedom to reconfigure the interior space to perfectly suit your needs and modern lifestyle.

Crucial Point: All renovation work involving layout changes can only commence after a consultation with a civil engineer or architect and the acquisition of all necessary permits. However, if the redesign does not involve a change in the functional use of a room (e.g., moving a bathroom into a living area), such permits are generally obtained quite swiftly.

Cost of Architect/Engineer Services and Permits: From €1,000 to €5,000+ (depending on the project’s complexity and permit requirements). These expenses can constitute up to 5-10% of the total project cost.

Renovation Stages and Their Costs

1. Demolition Works

Demolishing old partitions, built-in wardrobes, doors, dismantling the kitchen, removing old plumbing, sanitary ware, and bathroom tiles, along with professional debris disposal by a certified company, will cost you €10 — €30 per square meter of the property’s floor area. The price varies based on the volume and complexity of the demolition.

2. Utilities Replacement (Plumbing & Electrical)

While Greek legislation does not set strict service life limits or mandatory replacement periods for utilities based on property age, for homes older than 30 years, I strongly recommend a complete replacement of all systems. This isn’t just about meeting modern standards; it’s about your safety and ensuring the long-term durability of your renovation.

• Water Supply and Drainage (Plumbing): Properties of this age often used steel, cast iron, lead, or galvanized pipes. Their primary issues are corrosion, loss of watertightness, and hygiene. Decades of sediment accumulation on internal pipe walls reduce flow and water quality, frequently leading to leaks, often hidden within the walls. This can result in bubbling plaster, loose tiles, mold growth, and, of course, issues with downstairs neighbors. My strong recommendation is to replace the entire water supply and drainage system at once. This will save you money, time, and stress in the long run.
  • Cost of Plumbing Replacement Works: For an apartment with one combined bathroom and a kitchen, prices start from €1,700. This price includes both materials and labor.

Electrical Wiring: Here are the main reasons why replacing the electrical wiring is critically necessary:

• Outdated Materials: Old wiring often used aluminum (less safe and durable than copper) or had worn-out, brittle insulation.
• Insufficient Capacity: Old systems were not designed for modern electrical loads (numerous appliances, air conditioners), leading to overheating, short circuits, and fire hazards.
• Lack of Grounding: Many older buildings lack a proper grounding system or one that meets modern standards, which is critically important for electrical safety.
• Absence of Protective Devices: Old electrical panels may not have modern circuit breakers and RCDs (Residual Current Devices), which are life-saving devices in case of current leakage. My strong recommendation is a complete replacement of the electrical wiring with a modern system that meets current load demands and ensures the safety of you and your family.
• Cost of Electrical Installation Works: Ranges from €50-€100 per square meter of the apartment’s floor area, including materials and a new electrical panel. The range depends on the project’s complexity.

3. Floor Screed Installation

After demolition and utility replacement, installing a new floor screed (leveling layer) will be necessary. This will cost approximately €25-€40 per square meter (materials + labor). The cost heavily depends on the required thickness. For example, if you had old parquet flooring laid on wooden battens over the slab, you might need a screed thickness of 9 cm or more to match the hallway floor level.

4. Installation of Plasterboard Partitions and Ceilings

Once the screed is in place, we move on to shaping the new interior space. I recommend using plasterboard (drywall) on a metal frame for both partitions and ceilings.

The benefits of this solution are undeniable: it offers greater flexibility in layout, allows for easy concealment of all utilities (including electrical wiring, lighting, and HVAC systems) within the framework. The surface immediately becomes virtually perfectly smooth, which saves time and money on subsequent plastering and skimming.

• Cost of Plasterboard Ceiling Installation: Ranges from €30-€55 per square meter (labor + materials). The price is influenced by the type of ceiling (flat, multi-level), the specific plasterboard used (standard, moisture-resistant, fire-resistant), and the inclusion of sound or thermal insulation.
• Cost of Plasterboard Partition Installation: Varies from €35-€65 per square meter (labor + materials). Also depends on the material type, number of layers, and inclusion of thermal/sound insulation.

5. Finishing Existing Walls

After electrical installation in existing walls, the strength of the old plaster layer should be checked. Often, it delaminates and requires repair or full replacement. Here, two options are possible:

• Application of a new plaster layer: These works will cost €10-€25 per square meter of wall surface area (not floor area!).
• “Drywall” (Plasterboard Cladding): I would recommend this option, even though it’s typically more expensive. Its advantages are undeniable: beyond greater flexibility in space organization (allowing for niches, diverse lighting solutions), this method significantly improves the apartment’s energy efficiency, which will pay off in the long run through savings on utility bills. An added bonus is improved sound insulation and acoustic comfort. The cost for this type of wall finish ranges from €25-€45 per square meter (labor + materials). The price will also be influenced by the type of plasterboard, the number of layers, and the inclusion of insulation.

6. Final Preparation and Painting

After the “rough” preparation of the walls, they will need skimming before painting. This work typically costs €5-€12 per square meter of wall surface area (labor only).

Painting as the final stage costs €15-€25 per square meter of room floor area (two coats with materials included). The price varies based on the diversity of colors and the quality of paint used.

Additional Costs to Consider

• Doors and Windows:
  • Armored entrance door: from €700
  • Internal doors: from €360
  • Windows: from €200 (depends on size, material, inclusion of screens, shutters, etc.)
• Kitchen Furniture:
  • Kitchen furniture from a Greek manufacturer will cost approximately €350 per linear meter of cabinet. This means if your kitchen facade length is 2 meters and you have two rows of cabinets (upper and lower), it will be calculated as 4 linear meters.
• Unforeseen Expenses (“Surprises”): The older the property, the higher the chance of discovering hidden problems during demolition. After receiving and agreeing on your preliminary quote, I strongly recommend allocating an additional 10-15% on top for unforeseen expenses. This will help avoid stress and delays during the project.

In Conclusion

I hope this article has helped you gain a better understanding of the intricacies of renovation in Athens. Thorough planning and comprehension of all stages are key to a successful property transformation.

I am always at your service. If you already own a property or are just planning a purchase, feel free to send me its details, and I will prepare a preliminary estimate tailored to your specific project needs.

Always at your service,

Dimitris Esperidis

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