The model
Co-Ownership: private, clear and flexibly organised.
A maximum of six Co-Owners combine private use with professional third-party rental.
Ownership
- Plot and villas owned by a German GmbH & Co. KG
- Maximum of six Co-Owners as shareholders
- Co-Owners with differing preferred usage periods
- Initiator participates as a Co-Owner
- Up to three shares per Co-Owner possible
- Shares generally freely transferable
Use
- 30 days of private use of either cave villa per 1/6 share p.a.
- Usage days fairly distributed across attractive periods of the year
- Additional priority rental rights and last-minute booking options possible
- Private usage days can be exchanged among Co-Owners or released for rental
- Storage space for personal belongings
- Exit option (sale of the villas) after e.g. 10 or 15 years
Operations
- Private use is combined with professional tourist rental
- Planned third-party rental outside private-use periods
- Usage and participation rules agreed on a binding basis
- Personal management and operation by the Co-Owners
- Professional cleaning, garden and pool services as well as security monitoring
"A manageable ownership group instead of an anonymous large-scale structure"
The economic principle
Third-party rental is intended to cover the costs and taxes of private villa-days.
- Co-Owners invest in the acquisition of the plot and the construction of the villas in proportion to their shares.
- Tourist rentals are intended to cover all costs and taxes and enable "free" private villa stays.
- The model enables participation in rising real-estate prices in Crete.
The figures behind this are shown to registered members. Register.
Co-Owners app
Management and services in a dedicated app.
- Private usage days
- Your 30 days a year; choose preferred periods, exchange days or release them for rental.
- Rental
- Rental periods and booking status; priority and last-minute options for Co-Owners.
- Account and finances
- Income from rented days, credits for unused days, balance, annual reports.
- Management and community
- Services, caretaker and cleaning, cameras; communication, joint travel planning, a voting tool.
App concept at the current planning stage.
Timeline
From Co-Ownership to use.
Planned timeline based on the current planning status.
-
End of 2026
Co-Owner group
Formation of the Co-Owner group
-
Early 2027
Approval
Target completion of the approval process
-
Spring 2027
Start of construction
Planned start of earthworks (pause during the tourist season)
-
End of 2028 / early 2029
Construction completion
Planned completion of the Elounda Cave Villas
-
Spring 2029
Start of use
Planned start of private use and rental
Preliminary timeline. Individual milestones may shift during the further planning, approval and construction process.
Register for the full presentation.
Members see every render, the floor plans and the model in figures. The initiator, a Co-Owner himself, sees who has registered and is glad to arrange a personal meeting.
