The Greek island of Mykonos, part of the Cyclades Islands, is known for its vibrant nightlife and rocky landscape that tumbles down to the sea. Sitting right up against the picture-perfect coastline in Ornos, a popular village on the southwest side of the island, is the relaxed seaside Villa Coventina, which has hit the market asking €4.1 million (or about US$4.6 million/HK$35.5 million).

Privately sequestered down a long stone driveway atop a rocky outcropping, the five-bedroom, five-bathroom home not only has a crystalline swimming pool but direct access to the Mediterranean Sea and a large private dock. From an aesthetics standpoint, the contemporary abode has all the makings of a quintessential Grecian getaway. Think stacked stone walls offset with lots of whitewashed stucco and a relaxed indoor-outdoor layout with uninterrupted vistas from inside the house and on the sprawling terrace.

“This villa is a prime choice for those seeking discretion and privacy within a stone’s throw of Mykonos’ most iconic destinations,” notes the listing. Compass real estate agents Les Meyers and Carl Gambino have been granted the right to market this property in the US.

The relaxed, minimalist décor makes use of traditional materials to blend into the site as much as possible, and across its 3,767 square feet, the residence sports wide wood-plank flooring and oversized windows framed by natural stone. The open-plan living spaces include a chef’s kitchen, and each of the five bedrooms is decked out with an en-suite bath. The pièce de résistance, however, is the outdoors. Here, you have the option of plunking down alongside the swimming pool, soaking in the hot tub, enjoying an al fresco meal, or going for a dip in the sea.

While buyers can make Villa Coventina their primary residence, potential investors might consider the property just as appealing as a luxury rental. An increase in demand for holiday homes in places like Mykonos has led to an increase in housing costs. According to the latest statistics, costs for vacation residences hit a 10-year high. Specifically in Mykonos, homes can sell for as much as €32,350 (or US$36,144/HK$280,265) per square metre, which is a whopping 42 per cent jump from eight years ago. 

Greece, among other European countries, currently also has a golden visa programme where US citizens can effectively buy residency by investing in real estate. However, according to changes that were put into place last month, the minimum investment threshold for real estate in Mykonos—and any Greek island with over 3,100 residents—is now €800,000, or roughly US$893,316/HK$6.93 million.

Click here to see more photos of Villa Coventina.