Rent 170,000 euros per week

This summer, luxury residences are renting out in different parts of Greece, at prices ranging from 30,000 to 170,000 euros per week, with an average contract duration of about two weeks.

According to Greece Sotheby’s International Realty, there has been a “last minute” increase in demand, especially during the high tourist season. However, despite the fact that prices are clearly designed for a different audience, with high prestige and high demands, they do not show an increase compared to last year. On the contrary, says Ms. Violetta Saharidou, Head of Rentals on behalf of Greece Sotheby’s International Realty, “Prices remain unchanged from 2022. In fact, many owners are even making downward adjustments to ensure greater occupancy during the summer. “According to Ms. Saharidou, the type and size of the property, its location and orientation are important factors in price differentiation, while the ability to provide personalized services plays a key role.

“At the same time, we have several rental cases for international film shoots, commercials for companies both in Greece and abroad, private events and weddings. A typical example is the rental of a seaside villa for a major film production with rentals that had a six-figure !” says Ms. Sakharidou. Luxurious holiday homes are rented by people with high purchasing power, mainly from countries such as the US, UK, Israel, Italy, France, Switzerland and Belgium, she said. As for the owners of such real estate, they are diverse – they are both private individuals and small or large companies systematically engaged in real estate and tourism.

They ask for special services such as a butler, a mega-yacht, or a complete decor change.

Since the pandemic, however, these people’s preferences have changed significantly. Now they choose places that stand out for their greenery, such as the Ionian Islands, Ithaca and Zakynthos. For example, Villa “Norma” in Ithaca stands out not only for its unique aesthetics, but also for its location on the seafront. It has an area of ​​685 sq.m. and has six bedrooms. Together with a separate guest room of 230 sq.m. it can accommodate 12 guests. It features a heated swimming pool, a floating platform suitable for water sports, and an idyllic garden and a small farm on the plot where fruits, vegetables and wine are produced. Another noteworthy feature is that three water boats are rented with the villa: a speedboat, a Riva yacht (Ferretti Group) with its own skipper, and an inflatable boat with a motor. However, the price does not include the cost of fuel for the boats, in case, for example, guests want to visit the neighboring island of Kefalonia. At the same time, since the start of the pandemic, guests are favoring private beach properties as they place even more value on their privacy, as well as less crowded destinations such as Serifos, for example, or mainland Greek areas such as Sivota in Preveza. They are also more interested than in the past in learning about local customs and gastronomic immersion in places like Corfu and Crete.

However, Saharidou says: “It is important to note that these travelers are increasingly looking for a more personalized experience based on their own needs and preferences. within a few hours, butler service, special ordering of a certain brand of wine and its transportation on a private jet, the services of security personnel, etc. Obviously, luxury services increase the level of the traveler, while rental prices increase dramatically, however more than experienced and competent partners are needed to support and ensure their quality.”

That is why special knowledge and experience is required when it comes to managing such real estate. “It’s not just about a high level of service, but also about meticulous adherence to safety standards, since an accident in a holiday home entails serious legal liability,” emphasizes Ms Saharidou. Therefore, cooperation with qualified specialists and proper legal support is recommended.

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