Myconos Villas Rented Out For 11,500 Euros Per Week This Year

Date: 22.11.2018 / By Nikos Roussanoglou / / Comments (0)

The weekly rental rate for a luxury holiday home in the high-end market of Myconos, in the Cyclades, jumped to 11,500 euros this year, up 1,000 euros from 2017 and topping the Mediterranean chart, according to a report published by real estate service provider Algean Property.

For its annual report titled “High End Holiday Homes in the Mediterranean,” the company studied the average gross yields for investors in high-end holiday homes across 30 Mediterranean countries, and found that Myconos, Santorini and Paros provided the highest returns in the region in 2018.

This makes Myconos a reference point for holiday home investors. The island marginally increased its results, producing an average gross yield (AGY) of 8.5 percent.

However, the report found that despite maintaining a strong performance (as in 2017 with an AGY of 8.4 percent), the data demonstrate that holiday home returns on Myconos have reached their peak.

The AGY on Santorini came to 6.4 percent for the third year in a row while Paros recorded a marginal drop from last year (6.3 percent).

Algean says tourism is by far the leading factor behind the rise in Greece’s holiday home yields, noting that in recent years the holiday home market has served as an auxiliary service to the local hospitality sector, covering the growing demand for holidays in Greece.

“This led to an increase in holiday home rental rates, which, coupled with the price correction recorded in the Greek housing market due to the financial crisis since 2008, made all major Greek destinations top performers within the Mediterranean,” it said.

The number of international tourists who traveled to Greece in 2017 (27.2 million) was up 9.6 percent on 2016 (24.8 million), which confirms the positive correlation between increased AGY in key tourist destinations in Greece and the increased numbers of visitors.

“Our research confirms that the Greek holiday home market continues to be the most attractive in the Mediterranean, offering the highest yields compared to its immediate competitors in the area,” Algean says in the report.

“The steady course of the Greek economy, coupled with the price correction in the holiday home market and the growth recorded in rental rates, mainly due to the major upturn in the country’s tourist figures, point to the holiday home market continuing to have an upward course over the years to come.”

Reviews & Comments ( has relaunched as the top Greek real estate and property website portal dedicated to Greece and Cyprus’ industry.’s members include top real estate agents, realtors, individual sellers, FSBO, sale by owners, architects, developers, construction companies, lawyers, notaries and others that advertise residential (house, home, land, apartments, flats, villas, land, parcels and commercial listings for those looking to buy, sell and rent across all of the Hellenic Republic. is like the MLS database portal that is advertised in the top Greek diaspora and international markets around the world to those looking to invest - including Australia, the United States, Canada, United Kingdom, Germany, France, Spain, France, Europe, South Africa, Russia and everywhere else. Most foreigners start their home search in popular destinations like Mykonos, Chania, Crete, Athens, Thessaloniki, Cyclades, Santorini, Rhodes, Corfu, Ios, Lefkada and many more cities, prefectures and regions in Greece. has been featured in most Greek news media outlets and in some of the leading international publications in newspapers, magazines, websites, online news portals, television and radio. Notable publications featuring and its founder, Georgios Stroumboulis include the Wall Street Journal, G1 Brasil, India Today, Barron’s, El Mundo, Naftemporiki, Kerdos, Isotimia, Vradyni, Elefterotypia, Elefteros Typos, Imerisia, Ta Nea, Ethnos, Neos Kosmos,,,,,, People Greece,, Radio Neo Show, Antenna ANT1 Satellite TV, MEGA TV, Makedonia TV, Channel 9 (Το Α και το Ω των ακινήτων). is the only real estate website to have produced its own reality TV show called Hellenic Home Hunting ( Created, produced and edited by George Stroumboulis’ media company, BouliBrand (, this TV show caused an international media storm for controversy during the unstable economy period in Greece. Visit for the latest property listings and start your search, register for an account to sell or simply browse our news. Stay connected with us on Facebook (, Twitter (, LinkedIn (, YouTube (, and Instagram ( Use the hashtag #GPE360 and #HellenicHomeHunting.

featured on the front page of

The Only TV Show Promoting
Greek Real Estate to the World!