Why Buy a Villa in Mykonos?

Buying property abroad is a great option for potential investors. Bricks and mortar is generally considered a sound investment, and a home abroad has the advantages of offering a holiday base for life and decent rental returns too. Greece has long been a popular destination for holiday makers, so villas in the Greek islands make good investments both in terms of your own holiday enjoyment and with a view to rental. But with so many islands to choose from, why buy one of Mykonos villas? Here are a few reasons why you should choose Mykonos as your home from home.

The Price

It is estimated that Greek property prices have fallen by up to 50% since 2008, and while the Greek islands have fared better than the mainland, prices are still thought to be down by around 30%. This works favourably for investors who can pick up a bargain and potentially see good returns in years to come in the event of a recovery. There are hints that the property market in the Greek islands is beginning to stabilise, with Mykonos being one of the islands where prices may even be recovering slightly. For a cautious investor this shows that buying a villa in a more popular area such as Mykonos could stand them in good stead for a future profit.

While property prices in Mykonos may be higher than some of the less popular islands, with some villas on the market for millions of Euros, if you look carefully you can find great villas in Mykonos for as little as €600,000 (based on a Rightmove search on 28th October 2015). And you have the security of knowing you are buying in one of the top tourist destinations in the Greek islands.

Rental Opportunities

Despite the Greek financial crisis, Mykonos remains a highly desirable and fashionable holiday destination – Business Insider recently listed it as one of the 25 Places to Party Before You Die. It is particularly popular with wealthy travellers, as shown by Switchfly’s Luxury Travel Index 2015. which listed Mykonos in the top 15 destinations for holiday makers travelling first class and staying in luxury accommodation. This is good news for property owners, as the right villa could attract some very well-off clientele. However, if your budget doesn’t stretch to a luxury pad to tempt the rich and famous, you still have the peace of mind of knowing that Mykonos is very popular with young tourists with high disposable income, which creates the opportunity for very favourable rental incomes for you. The desirability of Mykonos accommodation is such that a three bedroom villa can command a holiday rental price of over £1000 a night! (Based on a TripAdvisor search on 28th October 2015)

A Great Place For You!

Of course, the real joy of buying a villa in the Greek islands is that it gives you a holiday home you are familiar with and can visit any time – and when you’re likely to make a lot of visits, it pays to invest somewhere you’ll want to explore again and again. Villas in Mykonos provide a great base to see all the island has to offer. There are many beautiful beaches, from the ‘party beaches’ on the South Coast to the calmer and quieter beauties on other sides of the island (the North Coast is especially good for water sports such as windsurfing), and lots of local culture including several excellent museums and 400 churches - the Panagia Paraportiani is a must-see. You can sip cocktails at sunset in the stunning resort of Little Venice or discover the smaller tavernas dotted around the island for authentic Greek fare. The UNESCO World Heritage Site of Delos is also a short boat ride away. With so much to see and do, you will never tire of your Mykonos holidays!

These are just a few of the many reasons why you should buy a villa in Mykonos. Contact a Real estate agency for more information and will find the perfect Mykonos holiday villa for you.