Which investments in property return the highest yields?
According to the latest available data from research firm Numbeo (First Half of 2020), renting an apartment in the center of Athens offers a gross annual yield of 4.35%, when the Greek 10-year bond is now trading at levels well below 1% (0.63% as of December of 2020). Outside the center of Athens, the annual yield for leasing residential property stands at 4%. So, it’s a market which offers a rather decent investment performance.
Investments in greek islands
Besides apartments in central neighborhoods, many investors are also looking towards the islands most popular among tourists. Mykonos and Santorini are typical examples of that and are among the leading destinations in the Mediterranean, offering an impressive ratio of cost/benefit. According to a 2019 report by property company Algean Property, Mykonos, Paros (another popular island in the Cyclades region) and Santorini maintained their status as among the destinations offering the highest property yields in the whole of the Mediterranean region. The annual yield of a luxury summer villa in Mykonos is over 8%, in Paros it stands at 6.5% and in Santorini at about 6.3%. High yields can also be found in areas like Porto Cheli (5.1%), which is just a two-hour drive away from Athens, while the annual yield of a luxury summer house in Rhodes, Chalkidiki (Northern Greece) and Chania (Crete) stands at 4.8%.
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