According to the latest statistics, holiday home sale prices on the immensely popular Cyclades islands in Greece are at a ten-year high.
The most significant surge in prices can be observed in ultra-luxury properties featuring distinctive attributes, particularly in Mykonos.
Of all the Greek islands, the Cyclades are the most famous, particularly Mykonos and Santorini which attract large numbers of tourists every year.
Holiday home prices surge in Greece’s Cyclades islands
The prices of holiday homes on the sought-after islands of the Cyclades have reached a ten-year peak, surpassing previous losses. According to the recently published Holiday Home Price Watch by Geoaxis, a company of certified real estate valuers, the trend is projected to continue its upward trajectory in the foreseeable future.
The report highlights that 2023 marks the fifth consecutive year of escalating holiday home prices on popular islands, exhibiting an average growth rate of 3.4%.
As previously noted, the most substantial increases are observed in the ultra-luxury property segment, particularly in Mykonos. These exclusive properties can now be sold for up to 35,850 euros per square meter, representing a remarkable surge of approximately 42% compared to eight years ago.
It is important to clarify that the substantial disparity in prices is not a result of a significant decline during that period, as these properties did not experience notable losses despite the economic crisis. On the contrary, the notable surge can be attributed primarily to the scarcity of such homes in the market and the strong desire of potential buyers to possess them.
Visiting the Cyclades
The iconic beauty of the Cycladic Islands is well-known. This is comprised of the islands’ stone-paved alleys, whitewashed churches with cobalt blue domes, picturesque white houses, and gorgeous sandy beaches where the blue of the sky is majestically reflected in the clear waters.
There is an opportunity for a number of memorable experiences, including viewing the sunset from Oia in Santorini, going for a dive in the deep waters of Amorgos, where the movie The Big Blue was shot, seeing the Red Sand Beach that looks like a landscape on Mars on Santorini, and partying at Cavo Paradiso Club of Mykonos where some of the wildest parties take place in the company of famous DJs. These are all once-in-a-lifetime experiences. And, of course, you’ll also not want to miss the ancient Temple of Apollo on Delos!
The Cyclades are not only comprised of Mykonos and Santorini, however. There are also Amorgos, Naxos, Syros, and the picturesque tiny islands of Koufonissia, Irakleia, or Donousa with quiet, beautiful beaches for truly romantic settings.