Quick answer: ΕΛΑ Suites Kastella is a ten-unit, fully furnished Solena scheme on the Kastella hillside in Piraeus, marketed for August 2026. Piraeus is Attica, so a Golden Visa file needs €800,000 on one deed with 120 square metres of certified main usable area, and short-term letting of that deed is banned for the life of the permit. The furnishing is the question that separates this scheme from every other: when movables are bundled into the price, the €800,000 the permit measures is not the whole €800,000 you paid. Treat everything below as questions to put to Solena rather than as findings.
Nothing on this page is sold by Greek Invest, and Solena pays us nothing for it. It is reviewed here because furnished turnkey sales are common in Golden Visa marketing and rarely itemised, and because Kastella and Evripidou show one developer building opposite products in one municipality.
What Is ELA Suites Kastella, and Who Is Solena?
Solena is a Glyfada-based developer marketing boutique residential schemes across Attica, including limited-unit projects in Papagou and Piraeus. ELA Suites Kastella is positioned as a premium serviced-residence product: fully furnished interiors, smart-home integrations, large balconies or private gardens on lower stacks, and sea views from upper floors over Mikrolimano marina.
The project occupies a 670 square metre plot, compact by masterplan standards, consistent with hillside infill typology in Kastella. Ten units on that footprint implies low-rise density and potentially fewer shared-amenity economies of scale than larger condominiums. That can benefit owner-occupiers seeking privacy but raises per-unit common-cost allocations and management questions after handover.
Solena public materials emphasise proximity to Zea Marina, Mikrolimano dining, Stavros Niarchos Foundation Cultural Center, Piraeus port, and metro links. Verify walking times and elevation changes from the exact building pin, Kastella’s hillside geography makes distance metrics sensitive to slope and stair access.
Developer profile: see Solena Greece developer page. Cross-check corporate registration, prior completion certificates, and defect history on earlier deliveries before paying off-plan instalments.
Kastella Within Piraeus: How Strong Is Demand Here?
Kastella is the elevated residential quarter above Piraeus commercial port, known for neo-classical renovation stock, Saronic Gulf views, and gradual price convergence toward Athens southern suburbs. Piraeus municipality is explicitly inside the Attica €800,000 Golden Visa zone, often with lower per-square-metre quotes than Kolonaki or the Riviera while still requiring the full €800,000 ticket and 120 square metre usable minimum.
| Factor | Kastella context | Due diligence note |
|---|---|---|
| GV zone | Attica €800K tier | Same rule set as Voula or central Athens |
| Indicative m² pricing | Roughly €2,800 to €3,800 on quality stock | Premium stacks command upper band |
| Tenant pool | Athenian professionals, maritime sector | Long-term leases dominate compliant GV income |
| Regeneration | Piraeus Gate, cruise terminal upgrades | Context only, does not guarantee unit appreciation |
| STR rules | Standard licences possible on non-GV assets | GV asset: LTR only nationwide |
For submarket depth, read Piraeus property investment. For Attica tier mapping, see Athens Golden Visa €800K areas.
Unit mix and pricing
Solena does not publish a full public price list on the project page reviewed in June 2026. Buyers should request written quotes per stack with deed price, main usable square metres, parking inclusion, and furniture inventory schedule. Furnished off-plan units trade convenience for opacity, depreciation on fit-out and replacement cycles affects net yield even when gross rent looks stable.
| Layout signal | Typical buyer profile | GV sizing risk |
|---|---|---|
| Lower-floor garden units | Owner-occupiers, quiet-use tenants | Confirm usable m² excludes terraces |
| Mid-floor sea-view stacks | Lifestyle buyers, executive tenants | View premium may inflate price per usable m² |
| Upper-floor panoramic units | End-user heavy | Often easiest to clear 120m² if price clears €800K |
| Cost line | Indicative planning range | Notes |
|---|---|---|
| Purchase price | Quote-dependent | Must clear €800,000 for GV in Piraeus |
| Transfer tax (2026) | 3.09% if VAT suspended | Confirm with lawyer per unit |
| Furnishing insurance | €400 to €900 annually | Itemise chattels in policy |
| ENFIA | Zone-based | Piraeus hills often mid-band |
| Long-term management | 8% to 12% of rent | Furnished units need tighter inventory control |
Income modelling for Golden Visa holders must exclude Airbnb and other short-term tourist use on the qualifying property. See Buy to let Greece guide for long-term lease frameworks and Golden Visa no short-term rental for compliance boundaries.
Does a Kastella Suite Clear €800K and 120 m²?
Piraeus buyers sometimes assume lower per-square-metre pricing makes Golden Visa compliance easy. Law 5100/2024 still demands €800,000 minimum consideration and 120 square metres of main usable area on a single title deed. A furnished boutique unit can fail on size even when the absolute price clears €800,000 if enclosed living area excludes balconies and storage.
| Rule | Requirement | ELA Suites action step |
|---|---|---|
| Investment floor | €800,000 | Written deed price on preliminary agreement |
| Single property | One title deed | Cannot combine two smaller Solena units |
| Usable area | 120m² minimum | Engineer certificate before reservation |
| Exclusions | Balconies, parking, storage | Strip from marketing floor plans |
| STR ban | Nationwide on GV asset | Model LTR income only |
| Off-plan filing | After contractual commitment | See 120m² rule guide |
August 2026 delivery, if achieved, shortens the window between deposit and habitable use relative to multi-year schemes, but Golden Visa filing timelines still depend on payment evidence, engineer documentation, and immigration processing backlogs independent of Solena marketing.
Kastella is in Piraeus and therefore in Attica, so the qualifying threshold is €800,000 on a single deed with at least 120 m² of certified main usable area. The tension specific to this scheme is the suite format: ten units in a boutique hillside building, marketed on view, finish and furnishing rather than on floor area, which is precisely the specification that produces a compliant price on a non-compliant size. Kastella and Mikrolimano trade at roughly €3,800 per square metre and above, so €800,000 implies about 210 m² at that rate, well clear of the rule, but a furnished suite priced at a premium to the local rate can reach the threshold at 90 or 100 m² and fail. Read the engineer’s certificate rather than the brochure, and budget approximately €856,000 to €880,000 all in once transfer tax at 3.09%, notary, lawyer and registry costs are added.
How do payment stages and off-plan protections work?
Payments release against construction milestones, and on a Kastella hillside site the specific exposure is groundworks and access rather than finishes. Slope conditions and constrained street access are where schedules slip on this topography. Secure a bank guarantee per tranche, a fixed completion date with penalties, and confirm that the sea-view aspect sold to you is protected by the permitted envelope of neighbouring plots rather than by the current skyline. Boutique developers sometimes use simplified two- or three-tranche schedules because build cycles are shorter. Simplicity does not remove insolvency exposure if stage payments lack bank guarantees.
| Stage | Typical range | Buyer protection to negotiate |
|---|---|---|
| Reservation | 10% to 15% | Refund conditions if permits fail |
| Construction milestone | 30% to 40% | Bank guarantee covering tranche |
| Pre-handover | 15% to 25% | Snagging holdback |
| Deed balance | 20% to 30% | Tied to completion certificate |
Review staged payment architecture in the off-plan property Greece guide. Furnished deliveries add snagging complexity, test smart-home systems, appliances, and furniture condition before final tranche release.
Ten units and an August 2026 marketed delivery put this scheme in the window where the two 2026 deadlines matter at once. The new-build VAT suspension runs to 31 December 2026, and the rate that applies is the one in force on the day the deed is signed, so a slip past year end swaps a 3.09% transfer tax of about €24,720 on an €800,000 unit for 24% VAT of €192,000 unless the contract allocates that risk explicitly. On the payment side, expect 5% to 15% at reservation and staged tranches against permit and structural milestones, all of it unsecured against the property unless a bank guarantee is negotiated per tranche. Furnished-suite pricing adds a second question: confirm in writing what portion of the deed price is the property and what portion is furniture, because only the property counts toward the threshold.
What are the pros and cons of this project?
Kastella gives ELA Suites the strongest sea-view scarcity of any Piraeus address, alongside metro line 3 access to central Athens and a genuine year-round working population from the port. Long-let gross yields on renovated Piraeus stock run above the southern Riviera because entry prices are lower against comparable rents. The constraint is the Attica threshold at €800,000, and a hillside location where quality varies sharply within a few hundred metres. Pros
- Kastella hillside address with genuine Mikrolimano sea views on upper stacks, rare in Piraeus pricing bands below Riviera peaks.
- Ten-unit boutique scale can mean faster construction and less anonymous corridor living than large port-side blocks.
- Fully furnished turn-key format reduces fit-out friction for owner-occupiers relocating on Golden Visa timelines.
- Piraeus at about 4.9% gross exceeds ultra-premium Riviera averages on lower capital bases.
- August 2026 delivery signal, if contractually binding, limits multi-year off-plan exposure relative to Ellinikon-scale pipelines.
Cons
- Absolute pricing on furnished premium product may compress net yields despite attractive gross marketing.
- Usable-area certification risk remains even when brochure totals look generous with balconies included.
- Solena boutique track record requires project-by-project verification, limited public data compared with institutional developers.
- Hillside access and parking allocation materially affect tenant appeal, inspect before assuming marina walkability.
- Furnished inventory depreciates and complicates maintenance charge disputes after handover.
What risks should buyers verify before signing?
| Risk | Verification step | Priority |
|---|---|---|
| Usable area under 120m² | Independent engineer measurement | ✓ Critical for GV |
| Furniture scope drift | Annexed inventory list in contract | ✓ High |
| Sea-view marketing | Stack-specific plans, not render only | ✓ High |
| Unsecured deposits | Bank guarantee or escrow | ✓ Critical |
| August 2026 slippage | Delay penalties in writing | ✓ Medium |
| STR income assumption | Remove from model if GV asset | ✓ Critical |
| Smart-home defects | Snagging protocol pre-final payment | ✓ Medium |
Compare against other Piraeus off-plan context in off-plan property Greece guide, ELA Suites is market colour, not a default choice.
Buyer scenarios
Scenario A, Golden Visa buyer wanting Piraeus lifestyle with sea views. ELA Suites may fit if a specific unit clears €800,000 and 120m² usable on one deed, you accept long-term leasing only, and payment protections are in place. Request engineer sign-off before the reservation deposit clears.
Scenario B, Furnished turn-key owner-occupier. Fully fitted units reduce relocation friction but tie you to Solena design choices. Inspect finish samples and furniture brands on site if possible; negotiate upgrade swaps before contract freeze.
Scenario C, Yield maximiser. Run net yield after furnishing depreciation, management, ENFIA, and tax, gross Piraeus marketing yields often overstate net outcomes on premium furnished stock. If yield dominates, compare unfurnished resale in outer Piraeus districts at lower absolute prices inside the same GV zone.
Who should pause: Buyers assuming Airbnb income on the Golden Visa asset; buyers who skip independent legal review because Solena also publishes Golden Visa FAQ content; buyers who treat August 2026 website copy as a contractual completion guarantee.
Frequently Asked Questions
Solena markets ELA Suites Kastella as a boutique scheme of ten fully furnished premium residences on a 670 square metre plot in the Kastella hillside above Piraeus port. Limited unit count supports exclusivity marketing but reduces liquidity if you need to exit before deed signing.
Solena's project page lists August 2026 as the delivery target. That timeline is achievable for a small-footprint build only if permits, subcontractor capacity, and finishing supply chains remain on schedule. Contractual completion dates and delay remedies must be confirmed in the preliminary agreement, not taken from the website alone.
Kastella lies within Piraeus municipality, which is in the Attica €800,000 Golden Visa zone under Law 5100/2024. Qualification still requires one deed, minimum €800,000 consideration, and at least 120 square metres of main usable area excluding balconies and parking. Furnished marketing does not change the measurement rules, certify usable area independently.
Yes. Solena positions the project as fully furnished with smart-home features, which simplifies turn-key owner use but complicates yield modelling, furniture packages depreciate, may not suit every tenant taste, and must be itemised in the sale contract for tax and insurance purposes. Verify what stays with the unit at deed signing.
Piraeus gross long-term yields are measured at about 4.9%, with Kastella and Mikrolimano at the lower end of that band on premium pricing. Golden Visa qualifying assets cannot use short-term rental. Net yields after ENFIA, management, tax, and vacancy typically fall several points below gross marketing figures.
Risks include furnished specification drift, sea-view claims that apply only to upper stacks, unsecured stage payments without bank guarantees, and usable-area shortfalls on smaller layouts despite high absolute prices. Solena is a Glyfada-headquartered boutique developer, review prior delivered projects such as Papagou schemes before transferring reservation deposits.
Kastella offers lower per-square-metre entry than Kolonaki while remaining inside the same €800,000 Attica tier. Central Athens moratorium zones restrict new STR licences, but Golden Visa assets cannot STR regardless. Kastella suits buyers who want port-city regeneration exposure and sea-view lifestyle branding with Piraeus long-term tenant depth.
Next steps: how we screen eligible projects · request a vetted shortlist.
Read next
Piraeus Property Investment 2026: Port City Area Guide
Piraeus property investment 2026: €2,400+/m² suburbs, port logistics, 1000+ home Piraeus Gate regeneration, €800K GV zone and yield data.
Off-Plan Property Greece: Complete Buying Guide 2026
Off plan property Greece: payment stages, VAT 24% suspension, developer DD, Golden Visa eligibility, Ellinikon, Piraeus Gate. Full 2026 buyer's guide.
Golden Visa 120 m² Rule Greece 2026: Single Deed Only
Balconies and parking do not count. How engineers certify main usable area for €400K and €800K tiers, common deed mistakes, and the €250K heritage exemption.
Athens Golden Visa €800K: Which Areas Qualify in 2026
Athens €800K Golden Visa zone: Piraeus, Glyfada, Voula, Vouliagmeni, Ellinikon. Prices, 120m² rule and area guide for 2026.
Get your Greece property shortlist
Share your budget, region (Athens, Crete, islands, or Peloponnese), and Golden Visa goal. We reply within one business day with matched options and next steps.