Property ID : SANTORINI27
For Sale 550,000€ - Villas for Sale Greece
House at Caldera Santorini with Yard and sea Views – up to 20% ROI
The property is located in Imerovigli, offers unique views of the town of Oia and of Thirasia island. You will also enjoy uninterrupted views of the world-famous Santorini sunsets .
The Cave House is a traditional Santorini house. The Cave is literally carved into the rock, with a vaulted roof. It is divided in two parts by a wall. In the front part you are welcomed into living room and kitchenette and to the right is the first bedroom while in the back you will find the second bedroom. Light and ventilation are provided by the facade of the house, the main entrance being in the center with a window right and a traditional iron skylight above. It is 51 square meters including two bedrooms, one living room with kitchenette and WC with shower. It has a traditional yard of 81 square meters with a fragrant flower bed, a unique (in Santorini) fig tree (beautiful) and a traditional wood stove.
The property is located between luxury boutique hotels
The property has remaining building allowance. Can built additional 2 suites of 20-25 sqm or one large suite of 40 sqm or expand the current villa into a 3-4 bedrooms villa of 90sq.m
Currently this house is offered for rent at 500 euro per night.
With a Conservative study, and based on the adjacent boutique hotels, if this house become a villa of 90 sq.m with 4-5 bedrooms and Jacuzzi at the top of the building it can be offered for rent with 1000 euro per nigh (generating a yearly income of 120.000 euro around 20% ROI)
The engineer estimates that for a quality construction the construction cost will not exceed 1000 euro per sq.m. therefore an additional investment of 40-50.000 euro it may be required.
Investment Santorini: In a very privileged location of famous Imerovigli this property can be bought and developed, become one Luxury Big Villa with yard and Jacuzzi.
Do not hesitate on this great Investment Santorini opportunity. Santorini, voted as the No1 Travel Destination in the World many years in a row from Tourism organizations and media like US Today, Leisure and Travel and many more!
Feel Like Being on the terrace of this Property with the 360 Virtual Tour Below