Extraordinary Villa in Elounda (Emotion)
€2,400,000
Description
Award-winning villa honoured at the International Property Awards 2016/2017 for Best Architecture, perched on the Mavrikiano hillside with panoramic views over Mirabello Bay and Spinalonga Island. The property spans 260 sqm of living space on a 2,229 sqm landscaped plot, featuring a 12-metre mirror pool (69 sqm) reflecting the bay. Six bedrooms with eight bathrooms accommodate up to 14 guests. The upper floor includes an open-plan kitchen, living and dining area, two en-suite bedrooms with balconies, and two WCs. The lower floor houses a large living room and three double en-suite bedrooms including the 50 sqm master suite with jacuzzi, double shower and walk-in wardrobe. Outdoors: shaded pergolas, lounge area, BBQ corner, natural amphitheatre and Mediterranean gardens enclosed by stone walls with secure private gated parking. The property is already listed on short-term rental platforms and equipped for hosting weddings and events. Option to acquire the adjacent villa (LH-853) to create a 12-bedroom estate at €4.2M.
Features
Rental estimate
Estimated nightly rate
400 - 0 €
Estimated occupancy rate
0%
Estimated annual revenue
110,000 - 0 €
Estimated gross yield
Net after expenses & taxes: 2.8%*
Data based on Lasithi 2025 comparables (Airbnb, Booking.com). Occupancy aligned with Lasithi average (~55%). Net deducts: 20% management, ENFIA, maintenance, Greek income tax.
* Gross yield = annual rental income ÷ purchase price. Net yield deducts running costs (maintenance, insurance, ENFIA) and Greek income tax on rental revenue. Estimates based on local market data — results not guaranteed.
The Kairos take
Our unfiltered, on-the-ground analysis
Award-winning architecture, amphitheatre, event facilities: this property targets high-end groups and weddings, a segment where €700-800 nightly rates are standard and bookings often run 7-10 days. 14 beds across 2,229 sqm in Elounda — outstanding value per sqm at €2.4M. Can be acquired combined with adjacent villa LH-853 to create a 12-bedroom estate capable of generating €150,000-200,000 gross annually. Estimated gross yield between 3.8% and 5%.
Extraordinary Villa in Elounda (Emotion)
€2,400,000
6
bedrooms
8
bathrooms
260
sqm