Which Cycladic islands have seen the most property sales in the past five years? While Santorini and Mykonos are commonly thought to lead due to their popularity, the actual data reveals a different story. According to the Hellenic Cadastre, Paros and Tinos top the list with over 12,000 properties sold between 2020 and now, followed by Santorini, Syros, and Naxos, Real estate is a big business force in the Cyclades.
Smaller islands like Antiparos and Ano Koufonissi also experienced notable sales relative to their size, indicating significant but less apparent changes in the Cyclades that affect the islands’ preservation.
The Hellenic Cadastre noted that this data is incomplete, missing sales from areas with unintegrated local registries, such as Amorgos and Kythnos, and those before these islands joined the cadastre. Folegandros is also excluded as its land registration has only recently started. However, the data for other islands is complete.
Ranking
From January 2020 to June 2024:
- Paros leads with 2,172 sales, with over 300 properties sold annually and 422 sales by mid-2024.
- Tinos follows with 2,127 sales, seeing significant activity in 2022 and 2023.
- Santorini is third with 1,873 sales, showing a steady increase.
- Syros has 1,508 sales, reflecting a quieter but notable rise.
- Naxos rounds out the top five with 1,355 sales, closely followed by Mykonos with 1,302.
Among smaller islands, Antiparos recorded 291 sales, Sikinos and Anafi had 63 and 13 sales, respectively, Ano Koufonissi had 67 transactions, and Schinoussa had 46.
Changing Character
Experts consulted by Kathimerini, including Eleni Maistrou, Yannis Spilanis, and Anastasia Psalti, discuss the implications of these sales. Psalti noted that investors are now focusing on Tinos and Syros due to rising property values in Paros, Santorini, and Mykonos, leading to developments that may not align with the islands’ existing character.
Spilanis attributed the rise in property sales to increased capital in real estate, local efforts to secure stable incomes amidst economic pressures, and public policies that favor tourism-driven growth. Maistrou highlighted a decline in sales on Mykonos and Santorini, indicating possible saturation, while sales rose in other islands, suggesting a commodification of land and a potential loss of local control and cultural identity.
Maistrou criticized the government’s handling of overdevelopment and called for a ban on large tourist investments to protect the islands’ landscapes and promote sustainable development. She also urged Cycladic mayors to present a unified stance to address these issues.
