Third Floor Apartment with Attic Potential for Sale in Corfu Old Town – 200m²

Chase Real Estate is pleased to present this rare and substantial third-floor apartment for sale in the heart of Corfu Old Town, offering approximately 160m² of main living space with a total area of around 200m² including the existing attic level. With solid wooden flooring, high ceilings, original architectural features, and an elevated position that brings natural light and a degree of quiet that lower floors within the Old Town cannot offer, this is a property whose value lies in the combination of its size, its structure, its location, and the scope it presents for a buyer with vision and the willingness to invest in a full renovation. Properties of this scale in this part of Corfu Old Town are genuinely rare, and the opportunity to acquire one at this stage of its development cycle does not present itself frequently.

The Property

The apartment occupies the third floor of a traditional Old Town building and extends to approximately 160m² of main living area across a layout of two bedrooms and one bathroom, with the attic level providing a further 40m² of additional space that brings the total area to around 200m². The structure follows the traditional architectural logic of the Venetian-influenced buildings that define the character of Corfu Old Town, with solid wooden floors, high ceilings, and original features throughout that speak to the age and quality of the building in which the apartment sits.

These original features are an asset of considerable significance in the context of the Old Town property market. Solid wooden floors and high ceilings of the kind found in buildings of this era and construction are increasingly difficult to source and prohibitively expensive to replicate in new builds or heavily modernised restorations, and they form the authentic architectural foundation upon which a renovation programme of genuine quality can be built. A buyer who approaches this property with a restoration philosophy rather than a replacement one will find the raw materials for an exceptional finished result already present within the existing structure.

The attic space is accessible and adds a meaningful layer of flexibility to the overall development brief. Incorporated into the main living area, it creates an upper-level space of considerable character and volume. Redesigned as a separate studio or guest accommodation, it becomes an independent component of the property with its own uses and its own potential contribution to the overall value of the finished asset. The decision of how to use this space is entirely the buyer's to make, and the flexibility it provides is a genuine advantage in planning a renovation that responds to specific needs and intentions rather than a fixed and inherited layout.

The property requires full renovation, and the asking price of €420,000 reflects the current condition honestly and entirely. The value creation through the renovation programme is the buyer's own to realise, and the fundamentals of the site, the structure, and the location ensure that value will be well supported by the market once the finished product is delivered.

The Location

Corfu Old Town is a UNESCO World Heritage Site and one of the most architecturally and historically significant urban environments in the entire Greek island chain. The Venetian, French, and British colonial layers of the town's built heritage are visible in every street and public space, and the density and quality of the historical architecture creates an urban atmosphere that is entirely without parallel in the Ionian islands. Living in the Old Town means being embedded in that history at a daily level, with the Liston, the Spianada, the port, the covered market, and the full cultural and social life of Corfu Town within easy walking distance of the property.

The third-floor position gives the apartment an elevated perspective on the street life of the Old Town below while providing a degree of quiet and privacy that ground and first-floor properties in this densely built environment cannot offer. Natural light enters through multiple openings, and the combination of height and the relatively compact street pattern of the Old Town creates an interior environment that feels open and connected to the city around it without being directly exposed to it.

The property is noted as being under the same ownership as an established business nearby, which may be of relevance to buyers considering the acquisition in the context of a broader investment or business relationship in the Old Town.

Investment Potential

A 200m² apartment in Corfu Old Town, on the third floor of a traditional building with high ceilings, solid wooden floors, an attic level, and a full renovation brief, represents a development opportunity of the kind that the Old Town market produces very rarely. The finished asset, renovated to a quality standard that respects and enhances the existing architectural character of the property, would be positioned at the premium end of the Old Town residential and short-term rental market, where demand from both international buyers seeking a distinguished urban pied-à-terre and visitors seeking high-quality accommodation in the most historically resonant part of Corfu is consistent and growing.

The scale of the property, at 200m² total, is the primary driver of its investment case. Large apartments in Corfu Old Town are scarce at any price and in any condition, and the supply of properties offering this much space within the UNESCO-listed historic core is essentially finite. A well-executed renovation here creates an asset whose scarcity value alone, independent of the quality of the finish, supports a strong and defensible market position over the long term.

At €420,000 for 200m² in the heart of Corfu Old Town, with original features, an attic level, and a full renovation brief that leaves the finished specification entirely in the buyer's hands, this is a rare and genuinely compelling opportunity in one of the most distinctive property markets in Greece.