For Sale - Villa
Mykonos Luxury Villas for Sale located in Fokos beach
Complex of 12 Mykonos Luxury Villas, waterfront, built on a 90,000 sq.m. lot. These Mykonos Luxury Villas are located in Fokos beach, one of island’s most attractive locations, with very easy access and approximately 10 km away from the port, airport and town. The total number of Mykonos Luxury Villas for Sale in the complex is 14. (2 already sold out)
A handful of upscale Mykonos Luxury Villas for Sale on a prime location between Fokos and Myrsini Beaches, near Ano Mera, Mykonos, an entire promontory of 25 acres regal above the cerulean Aegean Sea, a land protected for its exceptional natural beauty.
Total completion cost of these Mykonos Luxury Villas, with the same high-luxury specifications, is about 4,000,000 euros and delivery time is approximately four months. Purchase cost that includes total completion of the project (including the above amount) is 28,000,000 euros. Based on a study we performed, each Villa on average may return (assuming min values) as follows ..
- For the July and August (high season), 60 days minus 4-5 days (change, cleaning ..) = 55 days times 3,000€ per day = 165,000€
- For the months of June and September 55 days for x 1,800€ per day = 100,000€
- For the month of May 1300€ for x 20 days = 26,000€
- For the rest of the months, demand varies and cannot be accurately estimated as it depends on subjective factors (e.g. owner’s public relations, partnerships with tour operators, weather conditions in specific periods etc)
As an illustration, based on statistical results, during the remaining seven months there could be min. occupancy about 30 days / villa with daily rent around 1000 €, which would be an extra 30,000€ on top of what the busier months would bring in. The daily rent corresponds to minimum market rates for similar villas minus the percentage fee charged by the tour operators (assuming we chose to use their services).
Total yield / villa = 165 + 100 + 26 + 30 = 320.000€
Subtracting 10%, taking into account the risk of a bad year, a bad cooperation, etc., leaves about 290.000€ / villa (before expenses).
Total yield on 13 villas = 290.000€ for 13 = 3.77 million € per year.
In normal conditions (normal year, higher rents) the total return is greater.
Certain expenses have to be deducted out of this amount (e.g. cleaners, PPC, shared, manager, etc.).
As for taxes, there is a legitimate way (which every villa owner in the island follows ) to pay only 10%. The landlord knows this way extremely well (he also has other properties in Mykonos) and needless to say that he intends to teach us how to implement it.
THE ISLAND OF MYKONOS
Mykonos, usually referred to as the “jewel” of the Aegean Sea, is the quintessence of the true Greek island in the Mediterranean: with charming, colorful towns and houses built in the island’s traditional architectural style. It is world famous for its natural beauty, marvelous sandy beaches with crystal clear water, unspoilt landscape and secluded bays. It is the closet island to Delos, the historic treasury of ancient Greece and birthplace of Apollo, the god of light and beauty.
Due to its constantly increasing value, Mykonos has became one of the most desired destinations in the world for high net worth individuals and personalities of worldwide renown, primarily as a preference for investment in real estate.
2-storey villas plus basements.
Maximum villa height 7.5m, volumes no larger than 800 cubic m.
Longest continuous surfaces do not exceed 12m.
Traditional style of architecture (reductions, curves, arches, built-in areas, rough/irregular surfaces, arches).
Several levels not higher than 1m from natural ground.
Asymmetrical openings on the elevations.
Verandas, balconies & outdoor living spaces have direct sea views.
Exteriors of stone, white plaster and wood.
Floors of marble, stone, ceramic tiles and wood.
All bedrooms with en-suite bathrooms.
Saunas, steam baths, hot tubs, gyms, playrooms and garages.
Private water tank for every villa with automatic booster.
Insulation in concrete of both walls and terraces.
Accessible roof terraces.
Interior ceilings of painted plaster or wood with beams.
Skylights with fixed or operable domes with laminated glass.
Heating and cooling by central external units and invisible internal partitions – room autonomy.
Radiant floor heating.
Oil boilers with circulating pumps for instant hot water.
Public electricity supply.
Generators to insure energy independence.
Alternative energy connection is ready.
Drainage system with biological processing units.
Use of helipad and well; the island’s water reservoir is at 1km away.
Heated swimming pools with infinity effect.
Extensive gardens enhanced by walls and trees to insure privacy in every villa.
1. Fokos 6.534,05 446,10 7 60
2. Fokos 8.350,00 598,00 7 60
3. Fokos 8.010,00 545,61 5 70
4. Fokos 6.170,00 488,32 7 75
7. Fokos View Villa West 4.755 364,84 6 70
8. Fokos View Villa 4.753 473,34 7 70
9. Fokos View Villa East 6.337 431,96 6 70
10. Fokos 4.267,05 376,65 5 40
11.Fokos 13.161,00 698,52 7 100
12.Fokos 9.457,00 547,21 4 75
13(a). Fokos-Myrsini Villa 2.097 280,67 5 70
13(b). Fokos-Myrsini Villa 2.097 304,14 5 70
14. Myrsini View Villa 4.177 459,18 8 85
Greek Island properties all have one thing in common i.e. amazing views. Check out Why Mykonos is Greece’s most resilient property market and Where the super-rich renters are heading this summer.