So who wants to buy luxury villas in Mykonos? While it is true that Greece is still in the midst of a severe economic crisis, it appears that the Mykonos property market has literally been thriving. There is no crisis here at all!
Mykonos has long been one of the best vacation destinations in the world, loved and frequented by some of the biggest celebrities. But it’s not just about celebrities; Many ordinary people have made their way to Mykonos and bought luxury accommodation in Mykonos.
Many would rather rent a villa in Mykonos, rather than stay here, as they are here for a short period. But what is clear is that there is great interest in Mykonos villas. Everyone wants a piece of them.
In fact, despite the severity of the economic crisis in Greece, despite protests, demonstrations, referenda and elections, Greece still saw an influx of tourists of 22 million in 2015, which is really remarkable.
It’s no surprise to guess that most tourists in Greece spent most of their time on the Greek islands, including Mykonos, which have been practically isolated from the entire economic crisis. Today thousands of tourists fly to the Greek islands every day. Many hope to buy vacation homes here.
In fact, foreign investors and buyers are lining up to buy properties on popular Greek islands like Mykonos. The demand has never been higher. There is a great demand for holiday homes on the Greek islands. Mykonos, along with Santorini, is perhaps the favorite option for foreigners who want to buy a summer home on a Greek island.
Generally, the same nationalities that visit holiday destinations in Greece are the ones that buy luxury villas here. The British are among the biggest buyers of Mykonos villas, there are no surprises there as British tourists here in Mykonos are quite common. You see them here, there and everywhere.
Mykonos attracts buyers from all over Europe, not only from Great Britain, but also from Sweden, Denmark, Norway, Switzerland, France, Russia and Germany. There is also a lot of demand for real estate in Mykonos from China, Israel, India and Turkey.
In fact, wealthy people in emerging economies generally show a lot of interest in the Greek islands, and the recent economic crisis has not dampened demand one iota. Luxury accommodations in Mykonos that cost more than $ 1 million are bought almost every other day.
In fact, wealthy Chinese buyers have become very prominent here, with most buying luxury villas in Mykonos on cash deals. There is a high demand for cabins that have direct ocean views. Newly built or new beachfront Mykonos towns are incredibly popular.
Many foreign investors in Mykonos have benefited from the currency exchange rate, which is in their favor. Some are drawn to the Golden Visa offered by the Greek government to non-EU citizens.
This guarantees foreigners the right to a renewable residence permit for an investment of EUR 250,000 in property in Greece. They are also given the right to travel to all European nations subject to the Schengen agreement.
Many wealthy Chinese and Hong Kong bankers, hedge fund managers, and business executives have been buying real estate in Mykonos for this reason.
Things are certainly looking good for the Mykonos property market. Interest is high and the buying activity could not have been better. It is expected to improve a lot when the Greek economy recovers, which should happen soon.
In fact, experts predict that Greece will stabilize in the short term and that things will go back to the way they were when things were going well. But this is still a work in progress.