Line 4 brings to focus areas with limited transportation options
Real estate market and guided transport
systems have a “loving” relationship. When the metro arrived in
the early 2000s, it changed the whole picture. It created new markets
in new areas, boosted prices and, in the ads, the “near the metro
station” was the firm argument of every landlord claiming something
more than a sale or rent of his property. The years have passed and
now it is time to expand the metro. The countdown to the start of
metro line 4 construction has begun.
The new line will start at Veikou Park
and end at Goudi area, passing through Galatsi, Kypseli, Alexandras
avenue, Exarcheia, Kolonaki, Kaisariani, Ilisia and Zografou areas.
Can the new metro line increase prices in the areas it will serve? Is
there room for such a development?
“Of course there is,” Lefteris
Potamianos, head of the real estate agency “Potamianos Real Estate”
tells Bluekey. "Areas not served by the metro have never been at
the forefront of demand, either for purchase or for rent. With metro
line 4 this will change radically as it will significantly improve
access and reduce traffic congestion. In a sense, some areas that are
part of the town centre but cut off from it, will be upgraded with
the new metro line”, stresses Mr Potamianos.
A typical example is Galatsi, a limited
area in terms of transportation. “Accessing it has always been its
big problem, since it is actually served by some bus lines only. This
is reflected in both rental and sale prices, in an area with good
features, as it is close to the centre, borders with Psychiko area
and has good quality housing opportunities".
Kypseli also has rising potential in
terms of prices, and the new metro line can create a new mix of
tenants and buyers, compared to what the area attracts today.
The new metro line of Kaisariani,
Zografou and Ilisia will have a positive effect, as these are areas
that also do not have good transportation options, while they are
relatively close to the city centre.
