Renting a villa in Greece? See the qualities of a good property management agency

Greece is one of the best places in the world to spend your summer vacation in. We all know that Greece is home to some amazingly beautiful landscapes, a lot of the more important cultural monuments and some of the best beaches in the world but we don’t know, is that the country is the perfect destination for a luxury vacation. If you have ever wanted to live in luxury, you can do so in Greece since thousands of fully furnished and very luxurious villas are available for rent all over the country.

In order to get a good impression of the villas in the country and to see what each one has to offer in order to determine which one is the best for your vacation, then you really need to get in contact with a property management agency. Here’s what you should look for in a good management agency.

Variety

It goes without saying that some destinations in Greece are considered more luxurious than others which means that they are full of luxury villas. A lot of agencies specialize in one particular island or region in the country. So, before picking an agency, it’s always good to see how many properties they have available and where. The more the properties the greater the chances that you will find just the perfect one for you and your family or friends. Keep in mind that there are actually agencies that have properties all over the country. If you don’t have a particular destination in mind, they are your best option.

Clearly explained rates

A lot of agencies usually offer some perks along with the properties that will make your stay in them even more relaxing and enjoyable. Those perks range from a VIP transfer service to butlers and professional chefs waiting for you in the property. A good management agency will clarify upfront what the rate includes and what it doesn’t.

Look for reviews and word of mouth

Since a luxury vacation is something that you will probably get to do once in your lifetime, the experience should be as memorable and perfect as possible. Your management agency is essentially the liaison with the property and its owners s they are kind of the ones that you should turn to in order to ensure that everything is fine and ready before and during your vacation with regards to the property. Always choose agencies that are praised for their communication and customer service. Vilotel Collection is one of the most known and most well reviewed agency in Greece. Visit their website and look for youself.

Why now’s the best time to invest in real estate in Mykonos

When it comes to real estate, Greece is one of the best countries to invest in currently, and the reason is simple and rather well known: the country has been engulfed by a very serious financial crisis for about a decade now. This crisis resulted in a rather steep drop in prices in many properties, including some very luxurious ones. To put things into perspective, in some of the most expensive parts of Athens and other major cities prices have gone by as much as 50%. Since the country is currently turning a corner and leaving the crisis behind, if one’s interested in investing, there is no time like today and now.

One of the areas in Greece that has been most severely affected by the crisis is the island of Mykonos. That’s not to say that properties there have become hard to sell or buy – as is usually the case during times of crisis because no one wants to sell their property for less than what they paid for – in fact, the opposite is true. Real estate in Mykonos has always been ridiculously expensive because of the island’s popularity with local and international jet setters, the crisis however has made land there up to 40% cheaper.

The prices drop, but the tourists keep coming

Real estate prices seem to be the only prices affected by the crisis on the island of Mykonos. The island is still home to some of the most exclusive and expensive clubs in the world – it’s not unusual to be asked to buy a few thousand Euro for a bottle of champagne – and many famous restaurants are still maintaining branches and off-shoots on it. What this means is that although the “quantity” of visitors to Mykonos might have diminished during the crisis since the Greeks simply couldn’t afford it, but the “quality” of the visitors has remained the same or even increased. Mykonos is still and will probably always be one of the most popular summer destinations for the rich and the famous.

What do investors do with Mykonos real estate?

Luxury housing seems to be the name of the game on Mykonos with old villas being remodeled and renovated while new ones are also built every year. This is because it is extremely easy to sell a villa on the island, which is why many people or companies choose to remodel and flip older villas or build new ones from scratch.

There are of course a lot of investors that choose not to sell or flip the properties they buy. Instead, they choose to rent them out to the many tourists that visit the island each year, thus turning them into long term investments that actually produce a steady stream of profit.

How are things now on the real estate market?

Real estate prices were dropping year by year until a couple of years ago. The current political situation in Greece is way more stable than it was a few years ago and the Greek economy seems to start rebounding from the crisis. This has resulted in a halt in price drops. This doesn’t mean that you lost the investment train though. Mykonos villas and other properties were pretty overpriced before the crisis because the Greek nouveau-riche could get enormous loans pretty easily. The crisis just “corrected” the market. In other words, property prices will probably not get any cheaper soon, but they will probably never again be as high as they were before the crisis engulfed Greece.

The more things are getting better in Greece the more the prices will keep climbing, even if that climb is incremental. If you want to buy luxurious Mykonos villas or other real estate, you should hurry.

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