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Mykonos and Santorini popular resorts that attracts a secondary residence!! How prices are set

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villas 23 th. euro per sq.m.. at Mykonos – Over 20 th. the square in Santorini. Prices for summer cottages to five Cycladic islands…..

In the first quarter inflows of funds from abroad for the acquisition of property have increased by 130%.

Impressive numbers that can be touched and 23 th. per square measure now shows the property market Mykonos while in Santorini, the price for unique houses at Imerovigli and Oia exceed 20 th. per square subway.

For…. ordinary people who are interested to buy houses just the two most popular destinations in the Cyclades, without them to benefit from a particular location or characteristics values…... landing at 1/10 and even less with an average value being formed for Mykonos near 2.200 euro per sq.m.. Santorini and just over 1.800 euro per sq.m..

Data are from the last survey of known consulting firm GEOAXIS, which recorded prices for summer cottages on five islands in the Cyclades area, from the most popular, to buy second home in Greece.

Market research conducted by collecting data through ads published in newspapers and on the internet, during the first half of 2019.

First of all, Properties tested that are absolutely typical houses that do not benefit from a particular location and characteristics.

Research is thus relates to an upgraded architecture buildings, nor property special place (B.C. Caldera) or first sea.

"Such non-standard properties targeted at very specific buyers (mainly foreigners), who generally do not form the overall trend of the broader market. Regarding the selection of study islands, we note that our purpose was endeiktikoteri coverage of Cyclades with islands like Mykonos, Santorini and Paros which are known famous tourist destinations and the Kythnos and the Kea that are emerging tourist destinations with significant increase in the tourist traffic in recent years. In each selected island regions / positions typical characteristics, taking into account both the uniformity of characteristics and also the possibility of finding appropriate and reliable comparative data ".

According to the Observatory GEOAXIS:

  • Mykonos and still records the highest unit value 2.191 EUR / sq.m.
  • Follows Santorini with 1.818 EUR / sq.m.
  • Paros with 1.796 EUR / sq.m.
  • The Kea records 1.663 EUR / sq.m. and
  • Kythnos 1.342 euro / sq.m..

As for the differences between the first half 2019 and H1 2018 recorded anode requested sale price on an average of about 1,8% and the five islands.

The greatest increase is Santorini (2,45%), Kea / Jia followed Mykonos, Paros and Kythnos.

Holiday properties special benefits

And the five islands of the study there are areas / special advantages positions (prime locations) properties and unique architecture for which the required values ​​are recorded in extremely higher levels than the study.

For example,

in Mykonos in areas such as elm, Psarrou, Panormos and the area above the beach Super Paradise etc recorded requested sale price houses with facilities (pool, bbq etc.) which can reach up to 22.800 euro / sq.m., while

at Santorini in areas such as Imerovigli and Oia with the spectacular views offered at the Caldera recorded requested selling prices reach 20.300 euro / sq.m. depending,

at Paros recorded requested values ​​reach 11.600 euro / sq.m. while

Kythnos and Kea, mainly due to the very short distance from the basin, requested prices recorded up 10.000 sq.m EUR..

, Mykonos and Santorini popular resorts that attracts a secondary residence!! How prices are set

In detail, according to market research conducted exclusively for luxury homes five study islands for the first half of 2019:

  • Mykonos continues to record the highest average value with 13.269 EUR / sq.m.
  • Santorini with 11.496 euro / sq.m. and
  • Paros with 8.054 euro / sq.m. is lower
  • the Kea with 5.411 EUR / sq.m. and
  • Kythnos with 3.601 euro / sq.m..

Particularly important is the difference recorded at bid prices between the averages and standard luxury homes (SS. the gap is even greater when it comes to the unique luxury homes with special features).

So, a luxurious residence, It may cost more than a typical summer residence:

  • Mykonos until 6,1 times
  • to Santorini 6,3 times,
  • at Paros 4,5 times,
  • Kythnos 2,7 times and
  • Kea 3,3 times.

The market for luxury homes is estimated to occupy about 10-15% the total pie and aimed primarily at buyers abroad who are looking for particular properties are willing to pay significant capital gains.

Overall for the purchase of holiday homes, the GEOAXIS believes that the upward trend will continue for the entire 2019- 2020 as the tourist traffic signs of growth still is strong and the country stabilizes further the economy.

"The interest in buying summer houses will continue to come mostly from foreigners and relate to high quality real estate. Mykonos and Santorini will continue to be the most popular destinations and collect the largest buying interest, while smaller, lower islands tourism development potential to play a leading role in the coming years (B.C. milo, Serifos)», notes the study GEOAXIS.

New developments are expected to gradually relate to the average level of standard houses aimed at accommodating employees.


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