Palaio Faliro has an area of 4.6 km², with a population of 64,021 inhabitants, while the length of its beach within the Saronic Gulf is about 4 km. It borders with the Municipalities of Kallithea, Nea Smyrni, Agios Dimitrios, and Alimos. It is 9 kilometers from Athens (connected to Syngrou Avenue by tram), 13 kilometers from Piraeus (connected via Poseidonos Avenue), and 40 kilometers from Eleftherios Venizelos Airport.

Faliro has been known since ancient times as one of the original demes of Athens. According to mythology, it was from the port of Faliro, Theseus commenced with 7 young men and 7 women towards Crete to kill the Minotaur and relieve his homeland (Athens) from the heavy blood tax. The King of Crete, Minoas, to punish the Athenians for killing his son, Androgeo, declared a war of which he won. As a penalty to the Athenians, he declared that every 9 years, 7 young men and 7 young women be sent to Crete to be eaten by the Minotaur inside his Labyrinth.
 

During the ancient historical period, Herodotus in his book "Persian" narrates the battles of the Greeks and the Persians (490 - 179 B.C.) and often mentions Faliro. In the first years of Christianity, specifically in 50 A.D., Apostle Paul disembarked in Faliro harbor, when he visited Athens. In modern history, in 1883, the bay became the first transport link between Athens and Palaio Faliro with the "hippodrome" (def. "horse track"). In 1890, the animals were replaced with a steam engine and, in 1910, the electric motors made their appearance and the well-known "tram" was presented. Until 1920, Faliro was a small seaside village. In 1925, it became a community, while in 1942, it became a Municipality (along with the community of Kalamaki) and, in 1961 it became an autonomous Municipality.

Palaio Faliro is a suburb with a prominent position in the preferences of the residents of Attica. This is also reflected by the real estate values, which are the highest per square meter among the neighborhoods of Athens. Of course, this is due to the modern means of living, service, and recreation of its residents as well as those who visit it.

The Municipality owns the lush park of Flisvos with a playground and outdoor gymnastics facilities. The Faliro Olympic Indoor Hall (Tae Kwon Do Hall), the Stavros Niarchos Foundation Cultural Center, as well as many fashionable shopping centers. An outstanding location is Marina Flisvos that flaunts a state-of-the-art facility.  Apart from private yacht accommodation, it also hosts well-kept restaurants, bars, and cafes. Anyone who wants to visit them will most assuredly spend relaxing and enjoyable moments underneath the Hellenic sun.