Price of the property: 150.000 €

Overview

LOCATION

Located in a residence complex building at Myconos, Kalafatis. 100m away from the beach and next to Kalo Livadi and Aghia Anna, two of the most beautiful and well known beaches of the island.

PROPERTY

The apartment was built in 2005 and the total surface is 25,15 meters square as written in the contract of the house. The real surface though is 36 meters square.

In order to reach the apartment from the street you need to take the stairs for two floors where is also the swimming pool of the complex.

The apartment despite of the small surface has a spacious kitchen and an elegant bathroom. The really cute balcony it owns frees your mind and allows you to enjoy your coffee, lunch, dinner or have fun with your company and enjoy the magnificent weather of the most famous island of the Planet.

Facts &Features
  • Built: 1997
  • Floor: Gound floor in contract (reality – 2nd floor)
  • Bedrooms: 0
  • Bathrooms: 1
  • Surface of house: 25,15 meters square in contract (36 meters square – reality)
  • Pool: Shared
Home value

Myconos… An exclusive world!

Houses in Myconos are really hard to find.

Throughout the whole period of the economic crisis and when the prices of all the houses in Greece had reached a drop of 55% at maximum, prices of houses in Myconos not only were not affected at all, contrariwise they kept on rising!

Of course this move has not stopped until today. As the offer keeps on falling and the demand keeps on rising, there is no doubt that the prices of houses in Myconos will go through ceiling the upcoming years.

*The prices shown in the chart are personal opinions of our consultants and are not guaranteed.

Rental value

This property can be rent for:

  • Average of 80€/day for short time rentals throughout May to June
  • Average of 120€/day for short time rentals throughout July
  • Average of 140€/day for short time rentals throughout August
  • Average of 100€/day for short time rentals throughout September

This sums up to a maximum amount of 15.600€/year

Expected return as an investment asset

In hypothetical scenario of someone buying this apartment as an investment for 10 years and renting it throughout each summer, this is the expected return:

Rent

Almost 10.000€/year by renting it. 10 years of investment * 10.000€/year = 100.000€

Surplus Value

Based on how the prices of the apartments in Myconos moved the pevious almost 20 years, if the house will be sold in ten years will give the owner a surplus of almost 55.000€

Total Expected Return

Rent + Surplus = 100.000€ + 55.000€ = 155.000€

103% total return in 10 years. Almost 10% yearly return.

Not bad at all!