Olive oil prices are skyrocketing and the British summer is a complete disaster, making the dream of a second home by the sea on a sunny Greek island even more appealing.
Buyers at Elounda Hills, an eco-resort with branded residences currently under construction on Crete’s northern coast, clearly agree.
According to developers Mirum Group, the project has already secured £111.8 million (€130 million) in property reservations since it began work in summer 2023.
The 138-hectare project is carefully composed of individual plots of land and offers architect-designed villas overlooking the sparkling waters of the Mediterranean Sea.
For those feeling like their wings have been clipped by Brexit, buyers at Elounda Hills are also eligible for Greece’s Golden Visa programme, complete with a Greek passport and access to the Schengen area.
In addition to a botanical garden, safe sandy beaches, beach clubs and a water sports centre, Elounda Hills will feature a 202-berth boutique Camper & Nicholsons Marina. Crete’s existing marina is already vastly oversubscribed and lacks the deeper berths required to accommodate superyachts.
Residents can moor their own yachts there, or charter one while on the island. Many of the villa buyers have also reserved a berth in the marina, Mirum Group reported.
With 12 seasonal berths for vessels up to 100 metres overall, plus Camper & Nicholsons’ expertise in luxury marina experiences, Elounda Hills hopes to become the premier destination for Ultra High Net Worth Individuals (UHNWI).
The arrival of the luxury-focused development heralds part of the sea change coming to Crete. Until now, the 170-mile-long island has been popular with package holidays from Germany and the UK, but it is shifting towards attracting a well-heeled, globetrotting clientele. The local marina is already full with a long waiting list, so yacht owners are scrambling for more berths in Crete.
Kastelli International Airport is set to be completed in 2027 and will be Greece’s second largest airport. The £422 million (€500 million) travel hub will have infrastructure, such as longer runways, to allow for direct long-haul flights from further afield than Europe.
Today, visitors to the island must fly to the small and somewhat outdated Heraklion International Airport, which opened in 1937. Sometimes a transfer via Athens is necessary.
New roads are being built to the airport, but Mirum Group expects that some residents and guests will prefer to fly directly to Elounda Hills by helicopter.
While superyachts and helicopters aren’t exactly the epitome of sustainability, Elounda Hills is doing everything it can to ensure the resort is sustainable. The construction of the resort and homes, currently underway, is using hyper-local materials wherever possible.
Crushed aggregate from the excavations will be used for an on-site concrete plant, minimizing local road disruption, and the stone facades of the homes will be quarried from the limestone cliffs that form the peninsula. Sand for the beaches will be brought from across the bay, and a tree nursery is under construction to replant trees uprooted during construction.
Mirum Group hopes to appeal to the environmentally conscious UHNWI. Designed by Makridis Associates, the Mirabello Villas are powered by renewable sources and include electric vehicle charging stations.
The developers are also offering early buyers of Elounda Hills a free electric car, which they will receive upon delivery of their home.
Prices for Mirabello Villas start at £3.24 million (€3.85 million) and include open-plan indoor-outdoor living spaces, infinity pools, panoramic views and shady private gardens. These detached homes have three to five bedrooms.
In the centre of Elounda Hills are the two and three bedroom Terrace Villas, close to the resort’s bars, restaurants and shops. Prices start from— (€2.72 million).
Early buyers will also be offered a year of free property management by 1 Hotels, which is opening a 123-key hilltop hotel in Elounda Hills. Residents will also be given VIP status for the international hotel chain specialising in sustainable luxury.
“The rapid rise of branded residences in Elounda Hills reflects a deeper trend,” says Ricardo Severini, global sales director at Mirum Group. “Our clients are not just buying a home; they are choosing a lifestyle in harmony with nature without compromising on luxury.”
According to Severini, Crete’s mild climate, healthy Mediterranean lifestyle and quality of life make it an attractive destination for UK buyers.
“The intention is for this to become the most sought-after address in Greece and we expect interest to grow further as more brand partners are announced in the coming months.”
What to do in Crete
Planning a vacation or considering a second home? Here are some ideas to get you in Cretan mode
● Make a pilgrimage to Spinalonga, the deserted island that once served as Greece’s leper colony. Its ruins were the inspiration for Victoria Hislop’s The Island, a historical novel so popular that its author was made an honorary citizen of Greece.
● Get lost in the Minotaur’s Labyrinth at Knossos, an archaeological site with a grand palace that fueled Greek myth. Take a guided tour to get the full story, but be aware that there are a number of slightly wacky “reconstructions” left over from a Victorian-era Brit abroad.
● Enjoy organic wine and a picnic among the vines at Lyrarakis, a family-run vineyard that practices agriculture that works with nature, avoiding pesticides and planting offerings for local snails.
● Rent a boat to cruise along the coast and swim in the balmy ocean. Stop for a lunch of fresh seafood and fried zucchini at Kanali, the only restaurant in a protected heritage area.
● Enjoy a candlelit Cretan dinner at Piato and if you’re charming enough, take a peek into the wine cellar hidden in the secret wartime passages leading to the old mansion.
● Stay at The Island Concept, a boutique hotel where you can enjoy the sunset from your own private pool.