Constructible Lot for Sale in Platys Gialos, Sifnos, Cyclades, Greece

A Rare Piece of Land in the Most Demanded Spot of Sifnos

LOCATION
The island of Sifnos has developed low scale and high quality tourism, far away from the mass tourism of other islands.
The land at an elevation of 70-80 meters above sea level, is overlooking the bay of Platys Gialos that is the best beach in the island of Sifnos and has a 360 degrees uninterrupted views over the bay and the hills.
The lot is accessible from the beach via a road of 800 m. out of which 500 m are cemented, the rest being dirty road. It also accessible via a walking path that needs renovation.
The lot combines absolute tranquillity and proximity to many activities.
The neighbourhood consists only of private villas on large plots of land, securing full privacy.

The land has old olive trees that are still producing olives and is surrounded by old stone wall.

CONSTUCTING A VILLA
A construction of 245 m2 can be built, in one or more houses, plus additional amenities like swimming pool, terraces, parking, balconies, underground...
The seller can on agreement provide building permit, as well as advice on how to select an architect and a constructor and how to proceed with building.
It is estimated that a good construction costs in this island approximately 1.600 €/m2, thus a 245 m2 building would cost under 400.000 €, plus any cost for external installations like swimming pools, gardens etc.
This is approximately 500.000 US$ for a house of 2.500 sq. feet.

INVESTMENT OPPORTUNITY
The future owner may find sufficient to construct only 100 m2 for his holiday house. In this case, he can construct up to 145 m2 more in the form of one or two holiday house(s) and re-sell it. The selling price of such a property is approximately 2.800-3.500 €/m2, depending on the quality, or a total between 400.000 and 500.000 € (500.000 and 650.000 US$).

A SMALL LUXURY HOTEL?
According to greek legislation if the land is devoted for commercial activity can construct up to 20% of its surface, or a total surface of 832 m2. This is an ideal size for constructing a small luxury hotel.