Perama, Rethymnon, Crete, Greece
€850,000
- PROPERTY TYPE
Villa
- BEDROOMS
6
- BATHROOMS
6
- SIZE
3,229 sq ft
300 sq m
Key features
- Privacy & Seclusion
- An Expansive Sense of Space & Sweeping Panoramic Views
- Refreshingly distant yet reassuringly close to the nearest beaches and towns
- Year round appeal - rivalling prime seafront residences
- Established hospitality property - proven and consident income for the past 9 years - gross ROI 7%
- Serves as a base to explore the most authentic parts of Crete - wider region rich in cultural and historic sites
- Flexibility to operate as a wellness/agrotourism resort
- Renovation package underway - strong upside potential >10% gross ROI
- Appeal centered on wellness, longevity and authenticity
Description
Perched in an elevated setting in Keramota village just over 10 minutes from the coast and key access points, this remarkable estate embodies a true rarity: an expansive sense of space amongst some of Crete's most unspoilt rolling hills, complete seclusion and a more refined, harmonious way of living.
The property features four independent units with proven income generation for the past 9 years (ROI 7%) and the flexibility to operate as a wellness/agrotourism retreat with strong appeal to discerning travellers seeking depth of experience, heritage and authenticity.
The property bears testament to the fact that being coastal is not the only way to generate hospitality income in Crete and indeed opens up the investment spectrum beyond what even the most prime seafront residences can offer: year round appeal. While many properties vie for attention along the shoreline, this opportunity distinguishes itself as a true inland sanctuary, perfectly suited for those in search for more than just a seasonal escape.
THE PROPERTY
This imposing structure is spread across 3 levels and consists of 4 independent units. The raised ground and top floors feature the 2 main residences measuring 200sqm in total. The ground floor, 100sqm, features the remaining 2 units which enjoy direct access to the outdoor area. In essence, a total of 300sqm of space offering 4 kitchens, 4 living rooms, 6 bedrooms and 6 bathrooms.
Nearly 2,000sqm of the grounds have been thoughtfully landscaped and fenced. Outside you'll find a shaded veranda seating area, a covered pergola with a barbecue and dining table, and a 60sqm private swimming pool with sunbeds, umbrellas and an adjoining children's pool. The remaining c. 4,000sqm of generous private grounds remain untouched.
THE NUMBERS
Property "as is"
The property has been operating successfully in the short term rental market for the past 9 years, typically active 9 months per year, with gross ROI of 7% based on asking price. A comparable analysis highlights the potential for improvement on the ROI that the owner has been able to achieve independently to an estimated 8.5% on an "as is, professionally managed" basis.
Upside potential
Preliminary analysis suggest a potential ROI of exceeding 10% based on a scenario whereby the layout and positioning is enhanced through moderate capital expenditure, as outlined below. To further de-risk the opportunity, we are collaborating with a premier firm of architects and developers to provide prospective buyers with a comprehensive, turnkey renovation package.
- Interior reconfiguration options:
o Conversion into a single high-end private villa with increased bedroom capacity, with the middle and upper floors designed for open plan living, large floor to ceiling offers and the lower levels arranged as independent guest units; or
o Repositioning as a boutique hospitality asset (c. 4-6 suites)
- External enhancements:
o Landscaping and activation of the remaining c. 4,000sqm to improve usability and guest experience
LOCATION - THE KEY DIFFERENTIATOR
- Refreshingly distant yet reassuringly close to the nearest beaches and towns
Accessibility to the nearest beach and key access points is within 30 minutes. It is worthwhile noting that some distances and times may well change as soon as the new Northern Axis motorway (VOAK) comes into play (estimated completion 2030-31), with a targeted 1 hour 10 minutes travel time for the Heraklion-Chania stretch (down from 2 hrs and 15 mins currently).
o Perama town, a 10-minute drive, provides convenient access to local amenities, including supermarkets, traditional tavernas, cafés and bakeries.
o The famed Panormos beach is only around 13 minutes away by car.
o The bustling city of Rethymno is approx. 25 minutes by car.
o Heraklion International Airport is an hour's drive.
- A base to explore perhaps the most authentic parts of Crete where the spirit of the island remains genuine and vibrant.
Strategically positioned within a wider region recognised as rich in culturally and historically significant sites. Most notable sites include Ideon Cave (touted as the birthplace of Zeus), Mount Psiloritis (a UNESCO Global Geopark), Sfendoni and Melidoni caves respectively, the town of Ancient Elefterna and its museum. "The rustic charm earthiness of the mountain villages" of Axos, Margarites and Anogia also stands out, all three villages featured in a 2023 editorial by [hidden information], a prominent Greek online travel platform, attracting over 1.2 million unique monthly visitors with approximately 2.3 million total monthly visits.
BROADER MARKET DYNAMICS
The property's investment case is centered on expansive outdoor living, wellness and longevity.
- The concept aligns with broader market trends, particularly the growing demand for wellness-led travel. For context, the Global Wellness Institute projects that by 2030, one in three travelers will select accommodation based on its wellness offering, reflecting the direction of forward thinking brands such as Aman |soul sanctuaries and Six Senses |regenerative retreats.
- Promoting cultural and the very recently announced mountain tourism forms an integral part of the sustainable, all year round tourism campaign that the Greek Ministry of Tourism has expressed commitment to. Recent numbers on tourist arrivals and the average spend attests to the great strides the Greek government has made since the end of Covid in extending the tourist season.
FINAL NOTE TO PROSPECT INVESTORS
Serious investors are invited to inquire about the property's valuation analysis (current and projected), proprietary material on market dynamics and the renovation package currently underway.
The property features four independent units with proven income generation for the past 9 years (ROI 7%) and the flexibility to operate as a wellness/agrotourism retreat with strong appeal to discerning travellers seeking depth of experience, heritage and authenticity.
The property bears testament to the fact that being coastal is not the only way to generate hospitality income in Crete and indeed opens up the investment spectrum beyond what even the most prime seafront residences can offer: year round appeal. While many properties vie for attention along the shoreline, this opportunity distinguishes itself as a true inland sanctuary, perfectly suited for those in search for more than just a seasonal escape.
THE PROPERTY
This imposing structure is spread across 3 levels and consists of 4 independent units. The raised ground and top floors feature the 2 main residences measuring 200sqm in total. The ground floor, 100sqm, features the remaining 2 units which enjoy direct access to the outdoor area. In essence, a total of 300sqm of space offering 4 kitchens, 4 living rooms, 6 bedrooms and 6 bathrooms.
Nearly 2,000sqm of the grounds have been thoughtfully landscaped and fenced. Outside you'll find a shaded veranda seating area, a covered pergola with a barbecue and dining table, and a 60sqm private swimming pool with sunbeds, umbrellas and an adjoining children's pool. The remaining c. 4,000sqm of generous private grounds remain untouched.
THE NUMBERS
Property "as is"
The property has been operating successfully in the short term rental market for the past 9 years, typically active 9 months per year, with gross ROI of 7% based on asking price. A comparable analysis highlights the potential for improvement on the ROI that the owner has been able to achieve independently to an estimated 8.5% on an "as is, professionally managed" basis.
Upside potential
Preliminary analysis suggest a potential ROI of exceeding 10% based on a scenario whereby the layout and positioning is enhanced through moderate capital expenditure, as outlined below. To further de-risk the opportunity, we are collaborating with a premier firm of architects and developers to provide prospective buyers with a comprehensive, turnkey renovation package.
- Interior reconfiguration options:
o Conversion into a single high-end private villa with increased bedroom capacity, with the middle and upper floors designed for open plan living, large floor to ceiling offers and the lower levels arranged as independent guest units; or
o Repositioning as a boutique hospitality asset (c. 4-6 suites)
- External enhancements:
o Landscaping and activation of the remaining c. 4,000sqm to improve usability and guest experience
LOCATION - THE KEY DIFFERENTIATOR
- Refreshingly distant yet reassuringly close to the nearest beaches and towns
Accessibility to the nearest beach and key access points is within 30 minutes. It is worthwhile noting that some distances and times may well change as soon as the new Northern Axis motorway (VOAK) comes into play (estimated completion 2030-31), with a targeted 1 hour 10 minutes travel time for the Heraklion-Chania stretch (down from 2 hrs and 15 mins currently).
o Perama town, a 10-minute drive, provides convenient access to local amenities, including supermarkets, traditional tavernas, cafés and bakeries.
o The famed Panormos beach is only around 13 minutes away by car.
o The bustling city of Rethymno is approx. 25 minutes by car.
o Heraklion International Airport is an hour's drive.
- A base to explore perhaps the most authentic parts of Crete where the spirit of the island remains genuine and vibrant.
Strategically positioned within a wider region recognised as rich in culturally and historically significant sites. Most notable sites include Ideon Cave (touted as the birthplace of Zeus), Mount Psiloritis (a UNESCO Global Geopark), Sfendoni and Melidoni caves respectively, the town of Ancient Elefterna and its museum. "The rustic charm earthiness of the mountain villages" of Axos, Margarites and Anogia also stands out, all three villages featured in a 2023 editorial by [hidden information], a prominent Greek online travel platform, attracting over 1.2 million unique monthly visitors with approximately 2.3 million total monthly visits.
BROADER MARKET DYNAMICS
The property's investment case is centered on expansive outdoor living, wellness and longevity.
- The concept aligns with broader market trends, particularly the growing demand for wellness-led travel. For context, the Global Wellness Institute projects that by 2030, one in three travelers will select accommodation based on its wellness offering, reflecting the direction of forward thinking brands such as Aman |soul sanctuaries and Six Senses |regenerative retreats.
- Promoting cultural and the very recently announced mountain tourism forms an integral part of the sustainable, all year round tourism campaign that the Greek Ministry of Tourism has expressed commitment to. Recent numbers on tourist arrivals and the average spend attests to the great strides the Greek government has made since the end of Covid in extending the tourist season.
FINAL NOTE TO PROSPECT INVESTORS
Serious investors are invited to inquire about the property's valuation analysis (current and projected), proprietary material on market dynamics and the renovation package currently underway.
Perama, Rethymnon, Crete, Greece
NEAREST AIRPORTS
Distances are straight line measurements- Heraklion(International)24.4 miles
- Chania(International)36.9 miles
- Sitia(Local)77.2 miles
Advice on buying Greek property
Learn everything you need to know to successfully find and buy a property in Greece.
Notes
These notes are private, only you can see them.
This is a property advertisement provided and maintained by Infini, Rethymno (reference 1) and does not constitute property particulars. Whilst we require advertisers to act with best practice and provide accurate information, we can only publish advertisements in good faith and have not verified any claims or statements or inspected any of the properties, locations or opportunities promoted. Rightmove does not own or control and is not responsible for the properties, opportunities, website content, products or services provided or promoted by third parties and makes no warranties or representations as to the accuracy, completeness, legality, performance or suitability of any of the foregoing. We therefore accept no liability arising from any reliance made by any reader or person to whom this information is made available to. You must perform your own research and seek independent professional advice before making any decision to purchase or invest in overseas property.