Apartment for sale Santorini

Firostefani, Santorini

For Sale 830,000€ - Villas for Sale Greece

GREX2345622 119 sqm

Caldera Cave Houses for Sale in Santorini Firostefani

Set high above the world-renowned Caldera in Firostefani, Santorini, this rare property comprises two cave-style residences with a combined surface area of approximately 119 sqm, arranged on a plot of 267.48 sqm. Built in 1970, the property enjoys uninterrupted views over the Caldera and the Aegean Sea, presenting a distinctive opportunity for a private residence of distinction or for touristic development.

The Residence

The exteriors have been fully renovated and repainted, preserving the authentic Cycladic character of the buildings, while the interiors await renovation, offering a new owner the freedom to reconfigure the space according to their own vision and requirements.

Two independent cave-style (υπόσκαφες) houses totalling approximately 119 sqm
Plot of 267.48 sqm
One residence of 84.39 sqm with an exclusive-use yard of 53.80 sqm
One kitchen and one living room
First floor, single level, no parking
Year of construction 1970, energy class Z

Location & Lifestyle

Positioned within the residential zone of Firostefani, directly on the Caldera edge, the property benefits from dual access via two separate roads and two independent entrances, one from the upper side and one from the lower side of the plot. This configuration affords considerable flexibility, whether for private enjoyment or for the operation of two distinct residences.

Investment Potential

The combination of an exceptional Caldera-front position, unobstructed sea views, dual-access layout and two separate dwellings lends this property strong potential for either a bespoke private home or a boutique hospitality venture. Offered at €780,000 (€6,555 per sqm), it represents a distinctive proposition within one of Santorini’s most sought-after settings. Greek Exclusive Properties offers private in-person viewings, or a video call, for qualified buyers.

Frequently Asked Questions

Can foreign nationals buy property in Greece?

Yes. Both EU and non-EU nationals can purchase property in Greece with full ownership rights. Non-EU buyers require a purchase permit in designated border zones such as Santorini, Rhodes and parts of the Dodecanese and northern Greece, issued by the local authority. Greek Exclusive Properties handles the due diligence and coordinates every step for international buyers.

Does this property qualify for the Greek Golden Visa?

At €780,000, this property meets the €400,000 investment level and may qualify for the Greek Golden Visa depending on the specific location tier defined under Law 5100/2024 (the threshold rises to €800,000 in the highest-demand areas). Greek Exclusive Properties confirms eligibility for each property and guides non-EU buyers through the residency application.

How are viewings of this property arranged?

Greek Exclusive Properties arranges private, in-person viewings only. Where an in-person visit is not immediately possible, we can provide floor plans or a live video call. Viewings are scheduled directly with our team for qualified buyers.

What is the buying process for foreign buyers in Greece?

The process typically involves obtaining a Greek tax number (AFM), legal due diligence on title and permits, agreeing terms, and completing through a notarial deed. Greek Exclusive Properties coordinates viewings, the legal and advisory teams, and the full transaction from shortlist to closing.

Can this property generate rental income?

Homes in established Greek island and coastal destinations can perform well in the short-term rental market, particularly properties with sea views, a pool and strong outdoor living. Actual returns depend on location, seasonality and positioning. Greek Exclusive Properties can advise on the realistic rental outlook for this property.

Is Buying Property in Greece Tax-Advantaged for US Citizens?

US citizens are taxed on worldwide income regardless of residence, so Greek property income and capital gains must be reported to the IRS. Greece and the US have a tax treaty that may reduce double taxation. The specifics depend on individual circumstances, use of the property and applicable exemptions. Greek Exclusive Properties recommends consulting a cross-border tax adviser experienced in both Greek and US tax law before purchase.