Greece's holiday home yields outperform Spain and France
Ktimatoemporiki Real Estate - 2022-04-05
Greece's holiday home yields outperform Spain and France.
The highest yielding properties in the Mediterranean region are beachfront vacation villas in Greece, on islands such as Mykonos and Crete.
According to poll data published in the Greek newspaper Kathimerini, this is helping to enhance investor demand for Greek villas, which are outperforming holiday homes in Spain and France.
"It's no surprise, then, that houses on Paros and Mykonos fetch higher prices than homes of comparable size and features in Cannes, Saint Tropez, or even Capri."
Despite the pandemic, the holiday houses market on Mykonos has slowly evolved from a promising property niche to the most lively and bustling area of real estate," according to the survey.
Across the Mediterranean, one can see that, despite the pandemic, top-level holiday residence prices have remained steady overall, or even grew somewhat in value terms in the 30 locations examined. Consequently, returns have dipped marginally when compared to 2019, the last time the survey was conducted, but remain high as rents keep up.
It went on to say that rising demand for second residences, particularly at the premium end of the market, has resulted in greater property valuations.
Apart from reaping the financial benefits, homeowners can also use the villas for personal purposes throughout the year.
The necessity of the work-from-home model has blurred the distinctions between primary and secondary residences, allowing many people to spend more time in their second residence, where they can work while enjoying the Mediterranean environment and way of life.
Mykonos, with its comparative advantages and strong brand name, has remained the top destination with an average annual gross yield of 7.4%. Second on the list comes Paros at 7.1%, followed by Santorini (6.3%) and Skiathos (6%).
Beachside homes in Chania on Crete, the country’s largest island, showed yields of 4.8% while in Rhodes, the figure stood at 4.5%. These are key Greek real estate markets which are performing better than Nice and the Turkish coast, where returns at both destinations were at 4.3 percent. In Spain’s Marbella, the yield also came in even lower at 4.2 percent.
While real estate prices in Greece remain among the lowest in Europe, billions of euros are being invested into renovating highways, airports, and ports, enhancing accessibility to different sections of the nation.
Ktimatoemporiki has a number of homes for sale in Greece that have a high return on investment.
The highest yielding properties in the Mediterranean region are beachfront vacation villas in Greece, on islands such as Mykonos and Crete.
According to poll data published in the Greek newspaper Kathimerini, this is helping to enhance investor demand for Greek villas, which are outperforming holiday homes in Spain and France.
"It's no surprise, then, that houses on Paros and Mykonos fetch higher prices than homes of comparable size and features in Cannes, Saint Tropez, or even Capri."
Despite the pandemic, the holiday houses market on Mykonos has slowly evolved from a promising property niche to the most lively and bustling area of real estate," according to the survey.
Across the Mediterranean, one can see that, despite the pandemic, top-level holiday residence prices have remained steady overall, or even grew somewhat in value terms in the 30 locations examined. Consequently, returns have dipped marginally when compared to 2019, the last time the survey was conducted, but remain high as rents keep up.
It went on to say that rising demand for second residences, particularly at the premium end of the market, has resulted in greater property valuations.
Apart from reaping the financial benefits, homeowners can also use the villas for personal purposes throughout the year.
The necessity of the work-from-home model has blurred the distinctions between primary and secondary residences, allowing many people to spend more time in their second residence, where they can work while enjoying the Mediterranean environment and way of life.
Mykonos, with its comparative advantages and strong brand name, has remained the top destination with an average annual gross yield of 7.4%. Second on the list comes Paros at 7.1%, followed by Santorini (6.3%) and Skiathos (6%).
Beachside homes in Chania on Crete, the country’s largest island, showed yields of 4.8% while in Rhodes, the figure stood at 4.5%. These are key Greek real estate markets which are performing better than Nice and the Turkish coast, where returns at both destinations were at 4.3 percent. In Spain’s Marbella, the yield also came in even lower at 4.2 percent.
While real estate prices in Greece remain among the lowest in Europe, billions of euros are being invested into renovating highways, airports, and ports, enhancing accessibility to different sections of the nation.
Ktimatoemporiki has a number of homes for sale in Greece that have a high return on investment.
