Cyclades rates at decade high
The sale prices for holiday homes on selected islands of the Cyclades are at their highest in the last decade, as price increases continue this year, while the luxury real estate market stands out, especially at wildly popular destinations like Mykonos and Santorini, where more properties are located of such a character.
According to Geoaxis’ latest annual survey of the holiday home market, a property with special features in terms of location and specifications can sell for as much as 32,350 euros per square meter in Mykonos, while in Santorini the corresponding rate is €25,000/sq.m. and in Paros €17,780/sq.m.
Of course, these prices refer to real estate cases that can be counted on the fingers of one hand and are rarely available for sale. On the contrary, in regular properties this year’s average price increase is at 6.9%.
Mykonos saw the biggest rise at 10.1% (from €2,500/sq.m. to €2,750/sq.m.), followed by Santorini with an increase of 7.1% to €2,200/sq.m. and Paros with a 7% price increase compared to last year, from €2,050 to €2,195/sq.m. In Serifos, prices increased by 5.2% to €1,530/sq.m. and in Kea by 4.9% reaching €2,045/sq.m.
In terms of surface area, the largest summer residences are found in Mykonos and Paros.
