Property Buying, Selling, Renting Greece Property: Santorini
Greece Property: Santorini
Santorini seems to be ever popular for Greece property buyers - and little wonder, this jewel of an island is picture-postcard beautiful and upmarket. For those property purchasers looking at the Greek Islands for a holiday home or permanent property to live in, Santorini lives up to every bit of hype and is becoming more and more enticing.
Why Santorini?
This is quite possibly one of the islands which lives most up to foreigners' ideas of a 'Greek idyll'. Natural beauty, steeped in history, peaceful.. a real dream. Those looking to buy property on the island will find pretty villages with whitewashed houses set along narrow lanes. Looking from the sea upwards to the cliff tops, houses seem perched higgledy piggledy one on top of the other. Such properties naturally have stunning panoramic views across the bays.
Santorini has plenty to offer for the would-be home owner. There is a wonderful lifestyle and cheap cost of living. Add this to the sun and sea and there is little more to ask of a dream home in the Greek Islands.
It is interesting to note that property buyers on Santorina come in all age groups and many purchasers, after buying a holiday home and visiting for a few years, are so delighted with the island that they move there to live on a permanent basis.
With one of the main attractions of property here being that it is in harmony with its surroundings, prices on the island have increased dramatically over the last few years, so property is no longer 'cheap'. Santorini not only attracts foreign buyers but there are plenty of wealthy Greeks who have bought homes. This can lead to a feeling that Santorini property is expensive but given the upmarket feel of the island, the expensive yachts moored here, the overwhelming demand for property and small supply - and the lifestyle offered, the property market actually provides good value for money.
Villas, apartments and rural houses are emminently suitable for renting out property to holidaymakers, as the island is such a popular destination with hundreds of thousands of tourists.
Accessibility has much improved in recent times as have roads and general infrastructure. There is an international airport on the island, providing easy access through low cost airlines. There are plenty of regular ferries and some are high speed from Athens.
If you are looking to buy a home on Santorini, bear in mind that when you find the house of your dreams you are likely to have to move quickly as property is snapped up fast.
Property
Off plan and new developments are available on Santorini and prices are about 2,000 euros a sq.m but prices rise rapidly if you want a home perched on the cliffs with fab views. If you want to be in the most popular areas, especially if you are looking for a property with a view of the famous Santorini sunsets, then you'll pay upwards of 6,000 euros a sq.m.
Old properties, such as 'caves' with great views are popular with buyers. Bear in mind that renovation costs can come out more than you might think. However, a cliff property or cave property, once renovated can provide a stunning result when done, combining traditional style and modern comforts.
There are still properties available at bargain prices but they are few and far between and you will have to undertake plenty of research. And of course, even if you don't find that bargain and pay market price now, then it will appear as if it were a real bargain this time next year. With the lack of supply and yet persistent high demand, property on Santorini is a good bet.
If you are considering building a new home, then it is worth investigation regarding planning permissions before you buy. Planning is rigidly controlled in some areas, and you may be limited to a maximum of 150 sq.m for construction, which includes a basement area (not allowed to be used as living space). Also, if you would like to buy a plot of agricultural land and build, say, two houses on the land, with a view to selling one later, the land may not be divided.
Property Examples
Small house in upper Fira with a great view at 45,000 euros (see image left)
Karterados. Three bedroom house built only three years ago. Traditional style in lovely residential neighbourhood. Two minutes walk from shops and 15 minutes to the beach. 95,000 euros
Vorvoulos. Five minutes from Fira, cave house for renovation. Four rooms. 32,000 euros
Monolithos Beach. New build. Two bedroom, fully equipped, quality houses. 220,000 euros
All the above properties available with Santorini Real Estate.
Hot Spots
Oia, Forosteafni, Imerovigli - cliff towns, highly desirable with great views
Pirgos - inland and easy access from the port and airport, close to beaches
Fira - the capital, ever popular particularly with those seeking nightlife