Mykonos villas go out at 12,000 euros per week

Mykonos villas rented out at 12,000 euros per week

The cost of renting a luxury villa on the popular island of Mykonos for a week in August could set you back as much as 12,000 euros, if you manage to find a place, according to data from E-Real Estates.

In figures put together by the broker, the 11,970 euro weekly price tag applies for a villa to accommodate two adults and two children with a private pool in the area of Platys Gialos, on the southern side of the island. In other parts of Mykonos, the weekly cost starts from 2,772 euros (Ornos) and goes up to 8,313 euro (Psarou), the island's second most expensive area to rent in after Platys Gialos, according to the figures.

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Demand for housing on the islands is robust despite prices and demand remaining depressed in the broader real estate market in Greece.

"The occupancy rate for the first 15 days of September is already approaching 90 percent while in the first week of October, it is at 78 percent," said Themistoklis-Andreas Bakas, president of E-Real Estates.

Strong visitor numbers in Mykonos, along with a stream of international celebrities parading through the island every year, has fueled property demand, particularly from high net worth individuals from the Middle East, Europe and the United States.

In Santorini, demand is also strong but prices are lower than Mykonos.

To rent a luxury villa on Santorini in August, prices start at 3,220 euros per week in Imerovigli and go up to 6,209 euros in Oia, the data showed.