Cycladic Island Holiday Homes Most in Demand in the Mediterranean 

Mykonos, Paros and Santorini remain among the leading destinations in the Mediterranean, further establishing their investment dynamics in the post-pandemic holiday home market, according to Algean Property, who completed an annual review of 30 locations across the Mediterranean region.

In the report, Algean said that in the last few years, the holiday home market in the Mediterranean has steadily evolved from a promising real estate segment into the most dynamic and active sector of the real estate industry in this area.

“Demand across Mediterranean holiday destinations skyrocketed during the pandemic, with Greece, Spain and France leading the race. Yet, there are exceptions to this narrative with some locations experiencing small increases in yields and others experiencing a more substantial increase, mostly explained by rent figures growing faster than the sale price,” it said.

Insights Greece - Cycladic Island Holiday Homes Most in Demand in the Mediterranean 
Report by Aegean Property

For another year, Mykonos tops the list of best performers with an average gross yield of 7.4%. Paros (7.1%) is one of the destinations that were able to increase its yield compared to 2019 (6.5%). Although prices increased, rent growth outpaced sales prices growth resulting in a higher yield, further closing the gap with Mykonos. Overall, Paros has been able to benefit from Mykonos’s spillover effects with the islands being geographically near to each other. 

“This has allowed for new investments and more luxurious projects being built, increasing sales price while the greater number of tourists and pent-up demand from the pandemic has allowed rents to rapidly grow,” the report said.

Santorini’s sale price and rents experienced a slight increase compared to 2019 but overall performance remained the same with 2019 (6.3%). Skiathos and Tunisia share the 4th and 5th spot with sale prices, rents and yields remaining unchanged compared to 2019 (6.0%). 

The sixth spot is reserved by Porto Heli (5.3%) which was able to increase yields compared to 2019 (5.1%) as a result of a slight decrease in sale prices, whereas the Dalmatian Coast remained in the 7th spot with sales prices, rents and yields remaining unchanged compared to 2019 (5.1%). 

The top 10 destinations are completed by Chalkidiki, Chania and Kefalonia which all share the same yield of 4.8% with Kefalonia experiencing a significant increase in its yield compared to 2019 (4.1%) explained by rent growth outpacing sales price growth. 

The remaining 20 destinations recorded the following average gross yields: Elounda (4.6%), Zakynthos (4.6%), Rhodes (4.5%), Montenegro Coast (4.5%), Corfu(4.3%), Nice (4.3%), Turkey – Mediterranean Coast (4.3%), Athens Riviera (4.2%), Marbella (4.2%), Turkey – Aegean Coast (4.0%), Mallorca (3.7%), Saint-Tropez (3.7%), Messinia (3.6%), Sardinia (3.5%), Tel Aviv (3.4%), Ibiza (3.3%), Cannes (3.3%), Capri – Amalfi Coast(3.3%).

This article was first published here. 

For more Real Estate News & Views on Greece and Europe’s South, head to The Greek Guru.

*Image courtesy of Sotheby’s Greece 

Greek Island Luxury Villa, Designed for Group Getaways

This contemporary, stone-walled villa with breathtaking views of the Aegean Sea, captures the essence of Kea island’s nature while inviting guests to experience a complete luxury getaway in the Cyclades.

This deluxe modern seafront holiday home is a perfect haven for larger groups seeking the ultimate relaxation and privacy. Featuring stunning indoor spaces with minimal decor, Selene Villa in Kea also boasts an oversized deck, two infinity pools, a sauna, a jacuzzi, a tennis court and a basketball court- enough to keep guests active and entertained all day long.

Selene is the perfect place to stay while exploring this under-the-radar Greek island, which happens to be the closest Cycladic isle to Athens (it’s only an hour away by ferry from the port of Lavrion in the Greek capital). Located on the southwest coast of Kea, Selene is just a short stroll from the gorgeous sandy beach of Kambi, where there’s also a taverna for those that wish to dine out.

Designed to blend in harmoniously with the shades, textures and peaceful vibe of its surroundings, the luxury property invites plenty of light to fill its interiors which are open, yet warm and welcoming. Stone, glass and wood add texture to the space, with selected pops of art adding a touch of character to the stunning space.

Featuring seven spacious bedrooms and seven bathrooms, it’s designed to easily accommodate up to 16 people; with the master suite located on one level, the guest rooms are found on the lower floor, where there is also a private terrace.

The outdoor deck is designed for entertaining and large all-day gatherings. With the infinity L-shaped pool taking centre stage- there’s also a spacious surrounding deck, dining and sitting area, a smaller pool at the lower level, professionally equipped bbq, outdoor kitchen, kids play area, ping pong tables, and plenty of space to sit back and enjoy the magical sunsets- while spending quality time with family and friends. 

Selene Villa in Kea