Average asking prices for holiday homes on the Greek island of Antiparos have surpassed Mykonos for the first time following a surge in new construction. The shift marks the first time that the market leadership of traditional luxury destinations in the Cyclades archipelago has been challenged.
Data from real estate services firm Engel & Völkers and property portal Spitogatos showed that average asking prices on Antiparos reached more than 7,600 euros per square metre during the peak summer investment period. By comparison, average asking prices on neighbouring Mykonos stood at slightly under 7,100 euros per square metre.
Industry analysts attributed the price surge on Antiparos to property supply composition, with two out of every three homes currently offered for sale on the island being newly constructed. Over the three-year period from 2024 to 2026, average asking prices on Antiparos rose by nearly 43 per cent, while Paros recorded growth of over 15 per cent.
Mykonos remained the most expensive overall market for high-end luxury properties, with individual listings exceeding 19,000 euros per square metre and prime luxury estates commanding prices over 10,000 euros per square metre. However, broader asking prices on Mykonos grew by a modest 1.8 per cent over the same three-year period, supported by a recovery in tourist arrivals following three years of downward market pressure.
Rising asking prices across Paros and Antiparos
Paros developed into the most active real estate market in the Cyclades this summer as interest grew among foreign buyers. Together with Antiparos, a small island situated in the central Aegean Sea just west of Paros, the pair has driven investment activity across the Greek island housing market.
Foreign buyers driving the current demand come primarily from Britain, France, Germany, and Italy. Their growing participation follows consistent positive performance in Greek tourism, though buyers have turned more selective after real estate prices completed a seven-year national growth streak.
While Mykonos and Santorini remain high-value destinations, both markets are showing signs of stabilization rather than uniform price growth. Data from the Spitogatos listing network indicated a slight annual decrease in average asking prices on both islands, with Santorini recording a 1.4 per cent price drop over the 2024 to 2026 period.
Buyers seeking affordable alternatives in the Cyclades
As prices in mature hotspots cool, demand is shifting toward smaller and less crowded islands in the Aegean that offer lower entry prices and potential for future capital appreciation. Islands such as Tinos, Syros, and Andros offer entry-level prices starting between 2,200 euros and 2,500 euros per square metre.
These alternative markets, which also include Kea and Kythnos, are attracting purchasers looking for traditional architectural character, renovation projects, or properties suitable for longer periods of use. Engel & Völkers noted that Andros, located close to Athens at the northern edge of the Cyclades, is favoured particularly by domestic Greek buyers, with prices ranging between 2,200 euros and 3,200 euros per square metre.
The Cyclades island group, located south-east of mainland Greece, remains the country's primary showcase for holiday homes and leads national demand for domestic and international property investments.
