The Villas of Malamatina
Leading the list in terms of starting price are the properties of Aikaterini Malamatina and her daughter Karolina, which are once again heading to auction on July 23.
These unfinished residences — including a villa on the “island of winds” (Mykonos) — were listed on the online auction platform on March 12. However, despite the gradual price reductions, the auctions — most recently on June 19 — have all failed due to a lack of bidders.
As a result, the upcoming July auction will see prices further reduced by 35% (now at 65% of their original values).
Property 1: The “Choulakia” Plot in Mykonos
The first property is a plot of land deemed suitable for building, enclosed with dry-stone walls, located in the “Choulakia” area of Mykonos, covering 5,752.11 sq.m. It came into Aikaterini Malamatina’s possession in July 2007.
According to the appraisal report, a building permit was issued for the construction of two buildings, each with a ground and basement level, totaling 234.50 sq.m. per level. In total, 4 residences are planned across the two buildings.
An external inspection found two incomplete structures within the plot, each seemingly containing 2 two-story residences. Construction progress is estimated at 30% (structural framework completed), with concrete and walls in place, but no windows, wiring, or other installations.
The initial auction price for full ownership (100%) of this property was set at €1,705,000.
However, after a partial acceptance of a legal challenge, it was clarified that the property consists of four unfinished maisonettes totaling 683 sq.m., along with a planned 100 sq.m. pool. The maisonettes are paired, with each comprising a basement (with ground-level access), a ground floor (like a first floor), and an upper floor (like a second floor).
The revised auction starting price was raised to €3,415,000, but after several failed attempts, it has dropped to €2,219,750.
Property 2: Villa in “Diakoftis,” Mykonos
The second auction concerns full ownership of an independent horizontal property (part of a larger plot), which includes a residence and two storage buildings located in “Diakoftis,” in the municipality of Mykonos. The entire plot is 6,029.39 sq.m., and the specific property for auction covers 1,248.30 sq.m.
A residence was built on this plot based on a 1991 building permit, consisting of a ground floor of 49.80 sq.m., additional main-use areas totaling 208.86 sq.m., and a pool of 71.20 sq.m.
Initially, the starting auction price for full ownership was €1,224,000.
Following a partially accepted legal objection, it was found that the main-use area is 284.15 sq.m., and auxiliary spaces cover 93.67 sq.m. The court adjusted the commercial value and auction price to €2,734,956, though it has since been reduced to €1,777,721.40.
The Ruins Plot
Also on July 23, an auction is scheduled against the Cypriot company Podlounge Investments Ltd, initiated by a private claimant, for a buildable plot located in “Agios Panteleimon,” outside urban boundaries or city plans, but within the Mykonos zoning regulations.
According to the property title, the plot measures 6,362.18 sq m. (recent measurements show 6,293.90 sq m.), and originally contained old buildings totaling 55 sq m., now derelict and roofless.
The appraisal found the plot enclosed by dry-stone walls, with no road frontage and scattered ruins (approx. 90 sq m.). The starting auction price is €865,000, and the foreclosure amount is €25,107.40.
Residence in Ornos
Set to occur earlier, on July 9, is an auction for a residence in Ornos initiated by doValue. The initial auction price was €326,300, but after a successful legal challenge, it was raised to €551,250.
This is a standalone, independent first-floor horizontal residence in the “Korfos” area of Ornos, Mykonos.
The home has a surface of 58.50 sq m. and includes a living room, dining area, bedroom, kitchen, bathroom, veranda, and balcony, with a 146/1000 share of the total 956.60 sq.m plot.
The Agricultural Plots and Chapel
Also scheduled for July 23 are three separate auctions against a private owner, initiated by Cepal, concerning three agricultural plots:
“Vasilikos” Plot – once a vineyard, now uncultivated, approx. 2,280.50 sq.m. (per newer measurement), deemed non-buildable.
Auction price: €22,000
Plot with the Chapel of St. Filaretos – in “Chouchoulios,” approx. 3,804.70 sq.m., non-buildable, with a small chapel of about 15 sq.m. on the property.
Auction price: €33,000
Second plot in “Chouchoulios” – 16,241.90 sq.m., buildable.
Auction price: €280,000
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