Snapshot of Santorini Property market:
- High Rental Yields: Perhaps Santorini property market is one of the top rental yield performer markets in Europe! Yes... true.. just take a look how much the rooms are selling in different touristic sites i.e. booking.com, expedia.. and consequently, that makes the supply of sellable properties so low, which drives the property prices so high (basic economics, supply vs. demand). Therefore, Santorini property owners wish to keep their Santorini properties and put them on rent, and especially the daily rents and not the long-term annually rents! Which this, creates another problem in Santorini, big shortage of long-term rental housing units; the tourism of Santorini has been booming over the last 15 years and has brought up new economics to the island as well as demographics with more Athenians and other Greek people moving permanently to island for work and business opportunities.
- Difficulty to issue new Hotel Building Licenses In Santorini
- Very limited to nonexistent new project developments: however, our research shows that it’s easier to find land for sale then properties
- Chinese Tourists expanded the island’s summer season to a Year All Round island!
- Higher entertainment expenses compared with the rest of Greece (the island of Santorini can be compared to Mykonos)
- High Demand for Long-term Rental Units in Santorini! Great opportunity here, for land Developers.
- Peculiar property market and rates for rooms, depending on the location, property selling prices vary from €1750/m² in Monolithos area to €10.000+/m² in Oia and Caldera views!
BUY - RENOVATE - SELL Santorini properties with a low value which are located in prime locations
Offer Rental Returns of 6+ and 7+%
‘Gate’ has had a successful track record of hotel sales in Santorini. Our Advisory Team would also be happy to provide tailor-made solutions for the island.
In Santorini, the properties for sale are few. Santorini properties can be rented easily, or resell. An island of 78sq.m. kilometers land, being rated as top island in the world, with increasing demand from Chinese tourists (now direct flight Beijing - Athens will raise the numbers of tourists), make the property market in Santorini so fascinating and popular among the investors.
Haris Menelaou, MRICS
The photo below from Oia in Santorini, an area with a handful to none new building plots, therefore it makes the renovation market highly demanded and valuable. In winter time, also the existing hotels are going under renovation to keep the high quality of rooms and facilities to the highest standards possible, selling rates in summer season over 1000 Euros per night.