Mykonos

Mykonos

Population 10,134
Area 105.2 km sq
Timezone GMT +2
Language Greek
In year-round Mykonos, party capital and Aegean Island retreat for the super wealthy, expect to pay €1 million upwards for a three bedroomed villa. The sheltered areas around the Southern beaches have a premium as does Mykonos town, drawn by the white-washed alleys and stone paved roads, offering luxurious shopping, dining and living. There are some quieter locations on the island too.
Our partners highlight Chora, Mykonos town on the West coast, the main centre for restaurants, upmarket bars and tourism. Most of the island residents live in this area. The architecture is striking with whitewashed houses and balconies with scenic views.

For family friendly locations, Ornos is perhaps the best on the island. It is well connected, with ferries and small boats to the mainland and other islands, and enjoys a sheltered coast. Also on the west is the quieter area of Agios Ioannis. This is where our partners recommend property for those looking for tranquillity and privacy on the beautiful island. From here there are views to nearby Delos Island. There are luxurious villas for sale here.
A quieter, relaxing town is more traditional Ano Mera in the centre of Mykonos. Villas and apartments are available here. To the North, our partners highlight Tourlos, an emerging, picturesque coastal village next to recently opened Mykonos New Port, bringing ferry services, and docking cruise ships, luxury yachts and motorboats. Mykonos National Airport is four km from Tourlos beach.

There are more hot spots on the island too, depending on your search criteria.
Around 75% of Greek nationals own their property. EU nationals and residents have freedom to buy and locate, but third country nationals, including the UK, can face restrictions in some areas and need to apply to the authorities.

For the most part the buying process is straightforward and foreigners looking to relocate have the opportunity to take advantage of the Golden Visa residency scheme providing opportunity for five year residency (which is renewable).

Alternatively, for the financial independent, including retirees, there is the opportunity to apply for a long stay visa, followed by a Financially Independent Person Permit that is valid for two years. Contact the Consulate for visa information.
Otherwise, third country nationals are free to buy second homes and enjoy them for up to 90 days out of any 180, in line with Schengen visa rules. Property for rental needs to have an EOT license from the Greek National Tourist Office. There are some conditions so this is something to check in advance with the licensed estate agent and lawyer, if a condition of purchase. Non-residents are liable for tax on any income earned in Greece.

Property purchase in Mykonos can take as little as eight weeks, so it is advisable to be organised in advance and have your lawyer appointed from the earliest stages, alongside your estate agent and your foreign currency specialist.

Three legal professionals are involved in the buying process, your appointed lawyer, ideally English-speaking with property experience, the public notary and the Registrar. A technical survey is advised.
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