Carved into the Village, Megalochori

Megalochori, Santorini, Santorini, Greece & Cyprus

Cave HouseRoof TerraceVillage Centre

€320,000

2 bedrooms · 2 bathrooms · 60 m² interior

Why We Selected It

Carved into the Village, Megalochori, context detail

Megalochori is the quietest of Santorini's old villages — a walled cluster of captains' houses, bell towers and vaulted lanes on the road between Fira and Akrotiri, with wineries around it rather than cruise traffic. This is a genuine cave house, cut into the volcanic rock in the traditional way, with the barrel-vaulted ceilings and thick lime-plastered walls that keep the interior at a steady temperature through both August and January. The renovation kept that structure and added a modern kitchen and bathrooms rather than replacing the character. The separate studio is what makes it unusual at this price: two independent units on one title.

The Home

Carved into the Village, Megalochori, interior detail

Traditional cave house with a separate studio, freehold · Renovated — ready to use

A renovated 60 m² cave house in the centre of Megalochori, with a two-bedroom main house, a separate studio, a courtyard, a roof terrace and access to a shared interior jacuzzi. €320,000.

60 m² in total: a main cave house plus a separate studio (garçonnière).
Main house: two bedrooms, a bathroom, a separate WC, and a fully fitted open kitchen and dining room.
Studio: its own bedroom and bathroom, with a private entrance.
Courtyard with a shaded dining table and built-in seating.
Roof terrace with sunbeds and open views over the village to the sea.
Shared interior jacuzzi, carved into the rock.
Storage room. Air conditioning throughout.

Life Here

The village

Megalochori's square, bakery, tavernas and the Panagia bell tower are all within a few minutes on foot. It stays inhabited outside the season.

Wine

Some of the island's best-known wineries — Boutari, Gavalas, Venetsanos on the caldera road — are within a short drive.

The sea

The black-sand beaches at Perivolos and Vlychada are around ten minutes by car.

Fira

The capital and the caldera rim walk are about ten minutes north.

Getting here

Santorini airport is roughly fifteen minutes — 40-minute flights from Athens, direct European routes in summer. Piraeus is four hours by fast ferry.

Our Perspective

Why it works

Two independent units in a protected village core, renovated and usable from the first day, at a price well below the caldera rim.

Ownership case

The main house and the studio can be let separately or together, which widens the booking profile beyond a single-unit listing. Santorini's season is concentrated from May to October and short-term letting is regulated — confirm the current licensing rules before assuming a yield. Cave houses in the traditional settlements are protected, so alterations need approval and new supply is effectively fixed. At €320,000 the purchase sits within the Greek residence-by-investment thresholds in most categories; verify with a lawyer.

What makes it special

A real cave house, not a modern build imitating one — the rock keeps it cool in summer and warm in winter without much help, and the roof terrace looks out over the village roofs.

Best suited for

A couple or small family who want a village base with a guest unit attached, and are comfortable with the constraints of owning inside a protected settlement.