Athens is one of those cities that many people only visit en route to another, more idyllic destination. During the summer highs Athens’s bustling port of Piraeus surges with schools of holidaymakers heading off on ferries and Flying Dolphin hydrofoils to the Cycladic islands of Mykonos, Naxos, Santorini, Kythnos and a host of other Aegean hotspots. However tempting it may be to make for the surf, we suggest you spend a few days experiencing Athens and considering its second-home potential.

Olympic host cities are renowned for their dramatic regenerative schemes and it is no secret that Athens’s tenure in 2004 did wonders for the city’s infrastructure. Having lost its bid in 1996 (when it held heritage as key to its tender), next time Athens pulled out all the stops and sluiced the waste-scattered streets, transforming the city into an efficient, liveable urban centre for the first time in, well, centuries. In subsequent years Athens has reclaimed some of its “relaxed” charm, and things are once again running a few days behind schedule – time that locals use to drink frappé (the local whipped ice coffee) and enjoy eight-course lunches.

There are two neighbourhoods that are worth a look. Kolonaki is the city’s Belgravia or Upper East Side; and Psiri is its Bethnal Green or Greenpoint. Each has its charms and its relative price tags. Should you crave a monumental residence, then Kolonaki has enormous apartments and splendid views from its perch on Lycabettus hill.

On the other hand, Psiri is a more realistic investment, with two-bedroom flats selling for as little as €50,000. Taking their cue from other metropolis dwellers, the “creatives” have taken over the ramshackle district and are busy converting it into a lively, hands-in-the-air kind of place. Those ubiquitous urban créateurs – artists, designers, writers, photographers – are gentrifying the area with a surprisingly sympathetic eye.

Wherever in Athens you choose to buy your second home, you’ll eat, drink and live well. Besides, when the city gets too much, you’ll sit and sip frappé while waiting to board the hydrofoil to some remote bucolic isle.

While Psiri is undoubtedly the best place to party into the wee hours, Kolonaki feels as if it was built for walking. Here we take in the sights of the smart neighbourhood. Begin your day on the roof of the St George Lycabettus hotel on Kleomenous Street with a light breakfast (you’ll need to save room for lunch). Head out of the hotel into Dexaminis Square where you’ll find the open-air cinema Frame and café, both owned by the hotel. Resist the urge for a coffee in this delightful setting – there’ll be plenty of time for that later. Head out of the square onto Fokylidou Street and pop into Cats & Marbles to browse Marina’s collection of antiques and modern classics which are all for sale. Turn left down the steps on Dimokritou and walk downhill until you reach Parthenis, a well-stocked womenswear shop. Other stores include LAK, De Toute Façon and Deux Hommes. For a pre-lunch frappé, grab a seat outside Tribeca on Skoufa Street where a sexy crowd of twentysomethings sip their iced coffees for hours in the shade. Having worked up a healthy appetite slip into De Toute Façon Café, Eric Artigaud’s To Bakaliko (restaurant-cum-deli) down the road from his clothes shop of the same name. Order yourself the beetroot soup followed by the Axiotissa salad and the salted fish platter from Mytilene, the owner’s home on Lesbos. Have a little wander around Kolonaki before making your way to Kolonaki Square. Here you’ll find two cafés facing each other. One, Da Capo, is currently the coolest spot in the city to watch and bitch about passersby – a very, very Greek pastime.

Flights to Athens:

From London Heathrow British Airways – up to twice daily
From New York Olympic Airlines – up to twice daily
From Zürich Swiss – up to three times daily

Average prices for houses (50 sq m)
Rome €420,000 Madrid €280,800 Lisbon €140,000 Athens €80,000 Ankara €60,000 Source: GPG (Global Property Guide) globalpropertyguide.com

Corporate Relocations Greece
36 Elaion Avenue, Kifissia, Athens
+ 30 210 800 3510
corporaterelocations.gr

9 Thasou, Kastri, Athens
+ 30 210 807 4570
homefinders.gr

Before you purchase property in Greece, you must first obtain a tax registry number (AFM) from any tax office in the country. In addition, overseas buyers will need to obtain a “pink slip”; without it Greek authorities will consider any money wired into the country as income and will tax it accordingly. You may also be required to open a Greek bank account.

A public notary oversees the purchase process. Once an offer is made on the property, a preliminary contract is drafted. A deposit of up to 10 per cent is then placed on the property. After the buyer obtains the financing and the seller satisfies their own obligations under the preliminary agreement, a final contract is signed between the parties.

With the execution of the final contract, the ownership of the property will be conveyed to the buyer. The final contract is signed before the public notary. In addition, according to Greek law, the property agents who have been involved in effecting the sale must be present for the signing of the final contract.

George Nikolopoulos
30, publishing executive
“One of my favourite things about Athens is the number of open air cinemas – great in the summer. I’m in a band called Yellow Devil Sauce and we play clubs like AN, so I spend a lot of my time in places like that. Athens is a party city, anyone moving here will have to get used to staying out into the small hours and heading to work straight after. I spend my weekends during the summer on the nearby islands and I just heard that a company plans on introducing hydroplanes for speedy trips from Athens to the archipelago.”

Marina Coriolano-Lykourezos
34, gallerist
“I live just around the corner from my gallery in Kolonaki. I’ve lived in the neighbourhood for a while and I have got used to the atmosphere – it’s quiet and comfortable yet it’s still exciting. I realise it’s expensive around here, but not as expensive as the equivalent in other large cities. Athens is a very exciting place to be young. At the moment the art scene is really taking off and Psiri is leading a new and interesting movement.”

Vladimir Nikolouzo
24, chef
“I’m Greek and I was brought up a Greek, but I’ve lived in various places around the world. I’ve worked in London and New York which were both incredible experiences, but it’s nice to be home here in Athens. I love working in Kolonaki, the clientele is a lovely mix of bright young things. I also love all the shops around here, although resisting the temptation to spend a fortune is sometimes unbearable! And then, of course, you have the islands. I love to escape in the summer.”

Veronica Sariyiannidi
32, dentist
“One of the main advantages of living in the centre of Athens is the fact that you can be walking on the Acropolis and then 30 minutes later you can find yourself on a beautiful clean beach eating fresh fish in a cute little taverna enjoying the view. In the summer I like to go to the Argosaronic Islands like Hydra and Spetses, but if I stay in Athens I like to visit a tiny neighbourhood located on the slopes of the Acropolis called Anafiotika – it has the atmosphere of an old Greek village with small individual houses.”