Cyclades luxury villa prices surge 30% over the past decade

A Geoaxis study of five Cyclades islands—Mykonos, Santorini, Paros, Serifos and Kea—shows that prices for luxury summer homes have risen about 30% since 2017, making them up to six times more expensive than standard villas. Mykonos leads the market with a median asking price of €16,790 per square metre, followed by Santorini at €13,943 and Paros just over €10,000. Median prices on the other islands range from €6,549 in Kea to €3,984 in Serifos. The report also notes a modest slowdown in the growth rate for the coming 12 months, though prices are still expected to climb.

The rapid price escalation is driven largely by foreign buyers seeking high‑end properties, but it raises concerns about the sustainability of the tourism‑driven model. Over‑tourism, strained infrastructure, high travel costs, climate‑change impacts and regional geopolitical uncertainty are cited as factors that could temper future demand.