The wealthiest investors in Europe all have something in common – they buy multiple holiday homes across southern Europe. The Greek islands, in particular, offer the best real estate investment opportunities. These islands are full of holiday homes.
Millions of tourists visit these Greek islands every year and stay in these holiday homes. If you’re a real estate investor who wants top-quality properties that can provide strong rental returns – focus on Greek islands.
Which Greek island is the best for buying holiday homes? Since these islands attract millions of tourists every year, there are plenty of options to choose from. Here are the best Greek islands for aspiring holiday homebuyers.
Tinos is a Cycladic Greek island located in the southeast region of mainland Greece. It’s approximately 15 minutes away (by boat) from Mykonos. It’s home to the church of Panagia Megalochari – a place of pilgrimage for Orthodox Christians.
But, the island doesn’t attract mass tourism like Mykonos. There aren’t many grand holiday homes on Tinos either. But it does attract moderate investors. On average, property prices on Tinos are approximately €3,500 per square meter.
Compared to Mykonos, where the average property price is €10,000 per square meter, properties in Tinos are very cheap. That’s why Tinos offers the perfect investment opportunity for first-time, low-budget investors.
- You can enjoy peace and quiet on this small but stunning island.
- You can rent out your holiday home in Tinos for at least €7000 a week during the busy summer months.
- Tinos has amazing landscapes, a budding real estate industry, and a great capacity for new development projects.
If the glamour and beauty of a busy, cosmopolitan Greece don’t appeal to you – consider investing in Tinos. The island is relatively discreet and quiet.
Kea (also known as Tzia) is another Cycladic Greek island in the Aegean Sea. It is famous for its quiet beaches and hilly countryside. The Lion of Kea is an ancient tourist spot. The waters around this island are also home to thousands of shipwrecks.
These qualities make Kea highly appealing to tourists throughout the year. Kea’s appeal also lies in its relative lack of popularity. Unlike many tourist islands in Greece, Kea is relatively quiet and peaceful throughout the year.
That’s why many tourists prefer to stay in Kea and explore other Greek islands by boat. Hence, holiday homes on this island always attract renters. Investing in a two-bedroom seafront holiday home on Kea will cost you somewhere around €3m.
But, annual rental returns of at least 4% are guaranteed given the island’s booming tourism sector.
Santorini is by far the most expensive and the most popular Greek island to buy a holiday home in. The white-coloured, cubical holiday homes on Santorini attract millions of tourists every year. These homes overlook the Aegean Sea. They’re situated very close to the beaches full of white, black, and red lava pebbles.
Santorini is one of the most stunning places on the planet. That’s why the average price of a basic two-bedroom holiday home on this island is over €450,000. But, this island is one of the most dazzling tourist destinations in the world. Homebuyers can generate a lot of money every year from rental returns.
Greece’s Golden Visa scheme, launched in 2013, has opened the country’s islands to all international investors, not just the Europeans. Under this scheme, people who purchase real estate worth at least €250,000 can obtain permanent residency in the country.
Spend 180 days a year in Greece for seven years, and you can even apply for an EU passport. These three islands on Greek’s southern coast offer the best real estate investment opportunities in 2022.