A profitable investment in a beautiful and well known place
8 500 000 €
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Up on a hillside, with amphitheatrical view to the city of Agios Nikolaos and the Mirabello bay, this plot is located. Another asset concerning its location is that the particular area is designated as “private town planning” which has all the allowances and approvals by the state authorities. The whole process has already started by obtaining the initial permits (feasibility and environmental study, road connections etc.) and the architectural study is in progress. The plot area is currently 80.000 square meters. After the completion of the town planning, about 40% of the plot will go towards the construction of roads and common areas, and 60% will remain for the construction of the villas and houses. This means 48.000 square meters will have the permit to build 11.520 square meters of buildings, plus verandas, plus basements. This results to 100 up to 120 houses, depending on the architectural design. Time required for the completion of the private town process: approximately 18 months. A license has also been issued and 2 luxury villas have been built on a small part of the plot as a 'pilot project' with very good results in sales prices and demand. Elounda is considered a cosmopolitan place that attracts visitors from all over the world. The amenities of the area are more expensive than the rest of the island and therefore appeal to a wealthy world. The very beautiful beaches such as Plaka, the surrounding area, the developed amenities are some of the elements that make the general area particularly well known.