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