Perched in an elevated setting in Keramota village in Rethymno, this remarkable estate embodies a true rarity: an expansive sense of space amongst some of Crete’s most unspoiled rolling hills, complete seclusion and a more refined, harmonious way of living. All whilst remaining just over 10 minutes from the coast/key access points and 25 minutes from Rethymno town
THE PROPERTY
- Spread across 3 levels, 4 independent units. - Raised ground floor features the 2 main residences, 200sqm in total.
- Ground floor, 100sqm, features the remaining 2 units
- 300sqm in
here kitchens, 4 living rooms, 6 bedrooms and 6 bathrooms.
Nearly 2,000sqm of the grounds have been thoughtfully landscaped and fenced (60sqm pool, coveres pergola, barbeque, childrens' 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%. 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
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.
o Panormos beach is only around 13 minutes away by car.
o The bustling Rethymno town is approx. 25 minutes by car.
o Heraklion Airport is an hour’s drive.
Also, 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.
The Greek government has recently indicated commitment to promoting cultural and mountain tourism.