GOLF-PROPERTIES-IN-CRETE

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One detached traditional house will be available within six months. Built partly in stone, on two floors, it will have uninterrupted views to the Libyan Sea - 300 metres distant and onwards towards the stunning island of Koufonisi.

This will have open plan ground floor, kitchen/dining and lounge leading to a patio with enclosed heated pool and out to landscape gardens, combining shaded car parking area, downstairs cloakroom, stairs to three bedrooms, three bathrooms and panoramic balcony. The house features an open fireplace and hot/cold air conditioning. To enhance the seclusion, the property will be screened by walls and hedges bedecked with exotic planting. The villa with be finished to a high specification completely fitted and furnished and will offer a total of 130m2 floor space with a footprint of 75m2 and a 20m2 heated pool.

Within walking distance are two tavernas open all year, offering good traditional food and nearby along the coast are an abundance of small sandy bays for those wishing to emulate Robinson Crusoe.

With the emergence of golf in the immediate vicinity this will become a popular destination for the discerning holiday maker.This house is freehold and is priced at €450,000 which will include furniture, fittings, legal fees, taxes and optional letting contracts.

Finance

We can assist you in all aspects of finance/mortgage facilities with our Cretan based bank.

Future Developments

In the centre of Kalo Nero we also have a plot for up to four superior detached 3 or 4 bedroomed villas with pools and large gardens. All properties can be purchased off-plan with a discount of 10%

Fractional Ownership Opportunity in Crete: €40,000 = A Share of A Luxury 3-Bed Detached Villa!

This is your opportunity to buy a fractional ownership share in an off-plan luxury 3-bedroom detached villa in one of the most unspoilt parts of Crete – Makrigialos region on the southern coast.

We, the developer, are Capricorn Escapes Ltd and we are based in Dorset in the UK, but have over 25 years experience and an unrivalled knowledge and expertise of property development in Greece. We have built and sold villas over the years in Greece but we felt the time was right to offer a fractional ownership opportunity.

The Villa: ''Island View''

Island View will be within the hamlet of Kalo Nero which is situated about 3 kilometres along the coast from Makrigialos, SE Crete which is one of the most unspoilt parts of the island. Planning permission has been granted and we can supply architect's designs of the villa which, subject to securing the required number of fractional owners, could be built in less than 5 months. The property will be a large detached villa on two floors with an open plan footprint of over 70 sq. metres and an upper floor with three double bedrooms, three bathrooms and balconies giving uninterrupted views to the sea - 300 metres distant and onwards towards the stunning uninhabited island of Koufonisi. To enhance the seclusion and privacy the property will be screened by walls, hedges and exotic plants. The villa will be finished to a high specification completely fitted and furnished. Within walking distance are two traditional tavernas, which are open all year, offering good quality food. Nearby along the coast are an abundance of small sandy bays for those wishing to emulate Robinson Crusoe!

Improved Access to SE Crete

In the past it has been fairly time consuming to reach this part of the island as flights into the closest airport - Sitia - were not that frequent. However the airport has been extended and new terminal buildings are soon to be completed which will mean additional Charter and International flights into Sitia which will in turn impact upon both the demand for holiday accommodation and upon property prices. Sitia is less than 4 hours' flying time from the UK and Makrigialos can be reached in only 40 minutes from the airport.

The Area

The Bay of Makrigialos boasts the longest and shallowest sand beach in Eastern Crete and the nearby coastline is etched with small caves and sweeping stretches of sand beaches. It should be remembered that this part of Crete is closer to North Africa than mainland Greece and has long summers and a short ‘low season’ similar to an English summer, with very little rain.

The Financials

• The purchase price of one fractional share is €40,000
• This will include all property operating costs for the first year
• From year 2 onwards the overall running costs will be calculated and the figure divided equally among the 10 owners to establish the maintenance fee for the second year
• We, at Capricorn Escapes Ltd, will purchase one ownership unit and will also be responsible for management and maintenance and will ensure a successful transition for each owner to and from their allotted segments
• With many years' experience of letting villas in Crete to major tour operators we can also arrange a similar facility for owners who wish to capitalise on their segments in this way

Fractional Share Details

• We propose that the property will have 10 ownership units giving 5 weeks' use per year.
  This period will be of three and two week duration positioned on a 'calendar wheel'.
  The initial period will be chosen on a first come first served basis with the second segment on the opposite side of 'the wheel'.
• Therefore each owner has one period always in 'high season'.
  We would suggest that the 'wheel' moves round by one complete month each year so different facets of the seasons are available to each owner.
• Owners will, of course, be free to do what they wish with each two and three week segment and the Greek based team of Capricorn Escapes will always be available with help and advice for those in residence.
• It is suggested the period of two weeks over Christmas be left dormant for any maintenance of the property.

It has already been observed that with the proposal of Golf courses in this area of Crete and with the completion of Sitia airport those investing in property can expect a steady increase in values.