Mykonos at Damac Lagoons

Mykonos comes as one of the final townhouse clusters in the Mediterranean-inspired DAMAC Lagoons community by DAMAC Properties. There are 2-storey 4-bedroom and 3-storey 5-bedroom residences available for purchase.

The estimated BUA of the townhouses is either 2,282 sq.ft or 3,300 sq. ft, whilst the plot size constitutes approximately 1,550 sq. ft or 2,340 sq. ft. The key features of the layouts include a garden, a laundry/storage room, covered parking area, a terrace, 1-2 balconies and a powder room.

The starting price for 4-bedroom properties in Mykonos stands at AED 2.45M (USD 667K), as of April 2023. Please note that the EOI amounts to 5% of the unit value.

Residents of Mykonos will be granted privileged access to all the exciting amenities DAMAC Lagoons has to offer. These include alcohol-licensed bars, entertainment venues, a Tapas Lounge, a floating cinema, a floating amphitheater, an Aqua Wall for climbing and many others.

Owners of townhouses in Mykonos can apply for a 10-year Golden Visa, which has a minimum qualifying investment amount of AED 2M (USD 545K). This type of residency covers your family and an unlimited amount of domestic staff. On top of that, Golden Visa holders are granted an Esaad card, which offers savings on everything from theme parks visits and flights, to school fees and health services. The Esaad card is valid across 7,000+ brands in 92 countries worldwide, besides the UAE.

If you are willing to rent out your property upon completion, you can calculate an estimated profit based on the indicators of the adjacent community by DAMAC Properties, called DAMAC Hills. As of April 2023, the starting rental rates for 4-bedroom townhouses currently stand at AED 205K (USD 56K), with an average gross yield of 8.1%, according to Property Finder. Based on this data, it is safe to say that you will be able to gain a lucrative rental income, which will only increase once the infrastructure in DAMAC Lagoons is fully completed.