Greek Mansion With Roof Deck Overlooking the Aegean Sea Lists for €6.5 Million
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Greek Mansion With Roof Deck Overlooking the Aegean Sea Lists for €6.5 Million

A Greek retreat with a rooftop pool and terrace has hit the market for €6.5 million (US$6.989 million).

Tue, Feb 14, 2023 9:20amGrey Clock 2 min

Known as Andromeda, the mansion is located in the neighbourhood of Vaporia in Ermoupolis, the historic capital of Syros island, about a four-hour car and ferry trip from Athens. It offers just over 5,000 square feet and far-reaching views of the Aegean Sea, according to the listing with Greece Sotheby’s International Realty.

The design breaks free from the white-and-royal blue color scheme Greece is known for, instead featuring a pink facade and teal, amber, lemon and pink interiors. There are also herringbone wood floors and arched glass doorways.


“We fell in love with this very special house, one of the last neoclassical mansions to be built in Greece,” co-owner and author Oana Aristide said in an email. “The island itself looks more Venetian than Cycladic, and its century of glory is rooted in cosmopolitan, modern ambition. We therefore kept the generous spaces and original architectural details but combined it with iconic contemporary design elements. The goal was a fresh 21st century take on old-world elegance.”

Indeed, the home “is all about Old World elegance, where Greek neoclassical and Art Deco accents grace this imposing property,” Despina Laou of Greece Sotheby’s International Realty said in the listing.

A marble staircase with Doric columns on the upper level at the center of the mansion, and there are high, decorative ceilings throughout, the listing said. There’s also a wet bar with a dark red wall and a circular bar shelf.

There are 10 en-suite bedrooms, with marble accents in the bathrooms, and “outdoor plunge pools and private verandas with expansive sea views of the nearby islands of Mykonos and Tinos extend off some of the rooms,” the listing said. The home has most recently been used as a hotel.

The bar at the hotel. Alexandros Petrakis / Greece Sotheby’s International Realty

A highlight of the home is undoubtedly the roof deck, where guests and residents can take in sunrises and sunsets while lounging poolside.

Vaporia, once populated with the island’s shipowners and industrialists, is within walking distance of the charming historic port, home to Greece’s first opera house dating to 1864, according to the listing. Beaches and waterfront dining are a short drive away, as are other island villages.

Mansion Global could not determine when the home last traded, or for how much. The owners did not immediately return a request for comment.


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Hong Kong Takes Drastic Action to Avert Property Slump

The city’s real-estate market has been hurt by high interest rates and mainland China’s economic slowdown

Fri, Mar 1, 2024 3 min

Hong Kong has taken a bold step to ease a real-estate slump, scrapping a series of property taxes in an effort to turn around a market that is often seen as a proxy for the city’s beleaguered economy.

The government has removed longstanding property taxes that were imposed on nonpermanent residents, those buying a second home, or people reselling a property within two years after buying, Financial Secretary Paul Chan said in his annual budget speech on Wednesday.

The move is an attempt to revive a property market that is still one of the most expensive in the world, but that has been badly shaken by social unrest, the fallout of the government’s strict approach to containing Covid-19 and the slowdown of China’s economy . Hong Kong’s high interest rates, which track U.S. rates due to its currency peg,  have increased the pressure .

The decision to ease the tax burden could encourage more buying from people in mainland China, who have been a driving force in Hong Kong’s property market for years. Chinese tycoons, squeezed by problems at home, have  in some cases become forced sellers  of Hong Kong real estate—dealing major damage to the luxury segment.

Hong Kong’s super luxury homes  have lost more than a quarter of their value  since the middle of 2022.

The additional taxes were introduced in a series of announcements starting in 2010, when the government was focused on cooling down soaring home prices that had made Hong Kong one of the world’s least affordable property markets. They are all in the form of stamp duty, a tax imposed on property sales.

“The relevant measures are no longer necessary amidst the current economic and market conditions,” Chan said.

The tax cuts will lead to more buying and support prices in the coming months, said Eddie Kwok, senior director of valuation and advisory services at CBRE Hong Kong, a property consultant. But in the longer term, the market will remain sensitive to the level of interest rates and developers may still need to lower their prices to attract demand thanks to a stockpile of new homes, he said.

Hong Kong’s authorities had already relaxed rules last year to help revive the market, allowing home buyers to pay less upfront when buying certain properties, and cutting by half the taxes for those buying a second property and for home purchases by foreigners. By the end of 2023, the price index for private homes reached a seven-year low, according to Hong Kong’s Rating and Valuation Department.

The city’s monetary authority relaxed mortgage rules further on Wednesday, allowing potential buyers to borrow more for homes valued at around $4 million.

The shares of Hong Kong’s property developers jumped after the announcement, defying a selloff in the wider market. New World Development , Sun Hung Kai Properties and Henderson Land Development were higher in afternoon trading, clawing back some of their losses from a slide in their stock prices this year.

The city’s budget deficit will widen to about $13 billion in the coming fiscal year, which starts on April 1. That is larger than expected, Chan said. Revenues from land sales and leases, an important source of government income, will fall to about $2.5 billion, about $8.4 billion lower than the original estimate and far lower than the previous year, according to Chan.

The sweeping property measures are part of broader plans by Hong Kong’s government to prop up the city amid competition from Singapore and elsewhere. Stringent pandemic controls and anxieties about Beijing’s political crackdown led to  an exodus of local residents and foreigners  from the Asian financial centre.

But tens of thousands of Chinese nationals have arrived in the past year, the result of Hong Kong  rolling out new visa rules aimed at luring talent in 2022.


Consumers are going to gravitate toward applications powered by the buzzy new technology, analyst Michael Wolf predicts

Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’

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