Mykonos sees first drop in luxury housing prices

Low seasonal and reported occupancy rates in Mykonos have alarmed landlords, causing villa owners to reduce prices for the first time to as much as a fifth of the original rental price.

According to mykonoslive.tv, for example, a newly built one-bedroom villa with a brand new pool, an outdoor Jacuzzi and stunning views of Psarrou Bay is currently rented for 231 euros per night. Recall that the original price was 923 euros.

In the area of ​​Klouvas, close to Ftelia beach, a luxurious 56 m2 one-bedroom suite with a private outdoor pool, a terrace with sun loungers and an outdoor dining area is available for rent for only 238 euros per night.

According to mykonoslive.tv, there are now even five-bedroom villas on Mykonos that were rented for €2,000 per night last year, and this year they can be rented for €500 per night (after contacting the owner by phone).

It seems that Tourism crisis hits Mykonosas occupancy rates, especially at luxury hotels, have dropped significantly compared to previous years, leading to falling prices.

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