A Stone Mansion Overlooking the Aegean Sea From Tinos
$1.8 MILLION (1.6 MILLION EUROS)
This five-bedroom property sits on a hillside in Ktikados, a village near the southern coast of the Greek island of Tinos, in the Aegean Sea. Built in 2006 of local stone, the property has a main house with two bedrooms, plus two small guesthouses separated by a garden with olive and fruit trees, on just under half an acre.
Tinos, about 75 square miles in size, is bigger but much quieter than neighboring Mykonos, the popular tourist destination known for its party atmosphere, said George Kasimis, the head of Aegean sales at Greece Sotheby’s International Realty, which has the listing.
“Tinos is one of my favorite islands,” he said. “The whole island has a sophistication that’s developed over the years around culture and religion.”
Holy Church of Panagia Evangelistria, a 19th-century Greek Orthodox Church built in honor of the Virgin Mary. It was one of the first large structures built by the government after Greece declared its independence from the Ottoman Empire.
“People crawl from the port to the church, if they are very religious, and there they light a candle as high as their height,” Mr. Kasimis said. “It’s a very important site for Tinos.”
Market Overview
After 10 years of deep recession and staggering debt, Greece is now rapidly recovering, with both the economy and real estate market showing signs of renewed strength.
“All the macroeconomic figures are getting better and better,” said Antonis Markopoulos, co-founder and chief executive of Prosperty, a real estate start-up that uses a digital platform designed to make transactions faster and more transparent. “And after not spending during the pandemic lockdown, people are seeking to put their money into a safe investment like real estate.”
massive resort development planned for the site of the former Ellinikon International Airport, he said.
The strengthening demand for housing is reflected in rising prices. As of the third quarter of this year, apartment prices countrywide were up 7.9 percent over last year, according to data from the Bank of Greece. In Athens, prices were up 9.8 percent.