It's in Kallithea, a generic south-European concrete-jungle urban center. Also, I'm not sure it's fair to compare property values between the US and Greece. The average person working on the private sector would be lucky if he made $10000/year at this point in time.
Perhaps property value is in line then if 40k euros is an inflated price, I think 110k euros in Tacoma is a price too high for that area myself, the average income down there is around 22k euros a year for a working person [1].
