Microsoft’s decision to invest with the installation of the complex of three data centers in Lavrio will transform the region.
Specifically, the investment in the former textile factory “Aegean”, whose facilities for many years were described as “ghost-building”, reminiscent of other eras, and the special history of the area will work positively for the wider area of Lavreotiki Municipality.
The investment of Microsoft, according to the research of the Real Estate Network E-Real Estates, will work like an advertisement for the region and it is reasonable in the near future to expect similar actions from other companies, both domestic and foreign, which will want to be close to the American giant.
The availability of real estate for rent in Lavrio is very low, based on real estate ads. The requested monthly rental cost ranges from 4.3 € / sq.m. up to 6.6 € / sq.m. Only 38.8% of the available properties for rent are over 75 sq.m., suitable for families, while the rest concerns properties up to 65 sq.m.
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The requested selling prices of apartments 70 sq.m.-110 sq.m. above the 1st floor, built after 2018, range from € 1,222 / sq.m. up to 1,644 € / sq.m. while the requested selling prices of apartments with year of construction in 1990 start from 800 € / sq.m. Due to the low availability of both real estate for rent and sale, there will certainly be needs to rebuild housing in the area to accommodate Microsoft employees, as well as companies that may follow the move of the American giant.