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Greece’s island property prices have dropped by 33% since 2008

Property prices on Greek islands have dropped significantly in recent years, presenting major investment opportunities. The average price of houses at popular island destinations has dropped by a total of 33 percent since 2008, according to estate agents, while on large properties and luxury homes the decline is as much as 40-50 percent. According to Ioannis Revythis, the president of the Hellenic Real Estate Agents Federation, the average rates in euros per square meter at major destinations are as follows: Myconos, 3,000 euros from 4,500 in 2008; Santorini, 3,300 euros from 5,000; Paros, 2,000 euros from 3,000; Naxos, 1,600 euros from 2,650; Serifos 1,500 euros from 2,200, and Hydra, 2,500 euros from 3,500 euros/sq.m reports Kathimerini.

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