Property Values on Many Greek Islands Soar

The prices of properties on several Greek islands have been soaring since the beginning of the year, according to data obtained by Greece‘s most famous real estate sales website Spitogatos.gr.
Some of the most famous islands have seen their prices go up by double compared to last year.
As Greece’s Kathimerini newspaper reports, islands such as Santorini and Antiparos have recorded so far an increase of 18.2 and 18.1 percent, respectively, compared to the prices of the properties in 2018.
Islands both in the Aegean and in the Ionian Seas have seen double-digit increases, with Aegina, Skopelos, Ithaca, Tinos and Kythnos topping the list of places that recorded the highest increase in value.
Even Mykonos, Greece’s most expensive island in terms of the price of a property, recorded an increase of seven percent compared to last year, reaching an average asking price of €5,230 per square meter (p.s.m.).
Santorini’s average asking price reached €3,465 p.s.m. and Antiparos’ reached €3,810 p.s.m.
Most of the buyers are wealthy Americans, Europeans, and people from the Middle East, who buy properties on Greek islands to invest and profit from the increased numbers of tourists that come to the country.
On the contrary, property prices on Greece’s Eastern Aegean islands have dropped compared to 2018, mainly due to the fact that these islands still host accommodation facilities for refugees and migrants, who come to the country from Turkey’s shores.