16 Sep 2026

Fears of rising real estate prices due to new investments in Elaionas

  • RE+D Magazine

The balance between fostering new investment and creating open public green spaces has returned to the forefront of the debate regarding the future of Elaionas, with the Attica branch of SADAS-PEA criticizing both the area's planning and the terms of the architectural competition launched by "Public Space Redevelopment S.A."

According to the Association of Architects (SADAS-PEA), Elaionas is one of the last remaining large-scale areas within the Athens metropolitan complex that—due to its unique urban planning status and relatively low building density—offers the potential for developing extensive public green spaces.

However, SADAS-PEA argues that the provisions of the 1995 Presidential Decree for the area were never implemented over the years; instead, Elaionas is now being viewed primarily as a new frontier for major investments.

Fears of rising land values

The Association estimates that attracting investment to the area could drive up land and property prices—a development that, in their view, would make the expropriations required to create the planned public spaces both more expensive and more difficult to execute. Prompted by the “Architectural ideas competition for the strategic management of the wider Elaionas area,” SADAS-PEA reiterates its position calling for the repeal of Article 2, Paragraph 4 of the ministerial decision on architectural competitions; this provision concerns projects implemented through funding instruments such as ESPA (NSRF), the Recovery Fund, the European Investment Bank, and PPPs (Public-Private Partnerships).

Criticism of the competition terms

At the same time, SADAS-PEA expresses reservations regarding the chosen procedure, arguing that architectural competitions should be open and lead to the design and implementation of the winning proposal, with the substantive participation of the designers.

In this context, the Association criticizes the institution of “architectural ideas competitions,” arguing that the submitted proposals do not bind the implementing bodies and that there is a risk they will be used primarily for public relations purposes.

Particular mention is also made of the participation requirements for the Elaionas competition. According to the Association, the choice of an “ideas” competition rather than a “preliminary design” competition—combined with requirements for 15 and 12 years of professional experience—limits the participation of younger architects.

Issue regarding registration in consultant registries

SADAS-PEA also raises concerns regarding the tender requirement that the necessary experience be substantiated through registration in the MEM registries.

The Association argues that this specific provision could exclude architects not registered in these specific registries from the core design team. SADAS-PEA cites the ministerial decision on architectural competitions, which stipulates that registration in the consultant registry and possession of a corresponding class of design license are not prerequisites for participation.

Request for an extension

Another point of criticism concerns the competition’s timeline. The call for tenders was issued on July 27, 2026; however, according to SADAS-PEA, it was forwarded to the Association for publication on July 31, with the deadline for electronic registration set for August 26.

The Association considers the choice of this specific period problematic, as it coincides with August and—it argues—effectively limits the time available for interested parties to be informed and prepare their submissions.

For this reason, it requests, at a minimum, a one-month extension to the deadline for electronic registration, as well as a corresponding extension to the competition’s final submission date. Elaionas thus finds itself at the center of a broader discussion regarding the development model for Western Athens, as the prospect of new investments and a potential rise in land values ​​coexist with the long-standing demand for more public green space and organized communal areas.





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