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Ultimate Greek Islands Property Location

Taking the old estate agents mantra for real estate, then you can rest assured you need to look no further than the island of Mykonos for 'location, location, location'. This is the ultimate choice for property in the Greek Islands. Sugar cube houses in traditional style, rugged rocks with villas and infinity pools perched atop, breathtaking views and sunsets... and for those seeking buy-to-let, tourists  pay handsomely for this exculsive and sophisticated property scene.

Stylish upmarket villas, boutique hotels, designer shops, fat yachts: everywhere you look luxury abounds. The island attracts Europe's in-crowd because of one of the prettiest harbours in the world, beaches and relaxed attitude. And although famous with the stars and tycoons, its really unique point is that it is a great 'package' for property purchasers seeking a Greek Island idyll.  Pandering to every whim of the cosmopolitan group, it is also visited by nearly every Greek Island-hopper.

That is not to say the island-hoppers and the charter holiday makers have spoiled this island, not in the least. Mass tourism has not affected Mykonos, where tourist infrastructure has been regulated and contained, and little evidence of the hotel chains, avoiding the problems which so many other European resorts have faced. Rather, it remains almost untouched and is probably one of the islands which really matches up to the property buyers' idea of a true Greek Island: pristine white homes with blue shutters, dotted in a truly magnificent landscape surrounded by startlingly crystal clear turquoise sea.

Property buyers will find it hard to find a bargain here as it is the most popular island in the Cyclades group. It is also the most expensive. What they will find is an upmarket holiday home in the sun on a cosmopolitan island. Despite the glamour it retains an incredibly laid-back relaxed feel.

The downside to Mykonos, and possibly why over-development has not happened, is the question of access. Whilst schedules and charters fly there direct from the UK during the summer months, some airlines only fly as far as Athens, from where you need to get a connection. Mykonos is a very seasonal island and a fair number of people move back to the mainland during the winter.

Mykonos made its mark in the 70's onwards when it was the place to be seen for every politician and celebrity. These days it has lost a lot of the gay crowd and has a more sophisticated set of property owners and visitors. It is no longer just an island which is fashionable but is an island with ever increasing stable property values.

Where to buy

It is interesting to note that all buildings on Mykonos must be in the traditional Cycladic style. That is cube shaped houses in local stone with wooden windows and no building is allowed to be over seven and a half metres tall. All the houses are also whitewashed, a stunning treat to the eye. Don't be put off by the look of the sugar-cube white boxes - they are surprisingly spacious.

Buyers are not going to find property right on the beach as planning regs restrict any building on the beachfront to a minimum of 100m. from the sea front.

Property buyers are truly international, coming from all corners of the globe, including Australia, France, Italy, America and the Far East. This is a property market which has been mostly unaffected by the global financial and property crisis.

Many purchasers initially look towards buying near to Mykonos Town (Hora) but this can inevitably be a busy location and prices tend to reflect the demand here.

The most preferred areas for villas are in the south west of the island. Ornos, Lia, Aghios Lazaros, Kalo Livadi and Super Paradise. These areas are also near to Mykonos Town.

For buyers on a lower budget, then you should head to the north of the island. This area is known for the strong winds during the main summer months, so prices are subsequently lower than those of the south. Agios Stefanos and Tourlos are popular locations. The new yacht marina, Marina Tourlos, has sprouted a demand for villas in this area and investment is increasing. The north has more spectacular  beaches and great views of Mykonos Town.

In the main properties are individual, private and have sea views, although there are now some small gated communities which have developed. Most buyers look for elevated sites for their property to make the most of views.