Mochlos – a picturesque village combining mountains and the Mediterranean sea – in Sitia, Crete: Cottage for sale:
I am selling the 50% of my coastal cottage, right next to the sea (5 meters). Land (garden and parking) area is 16846 square feet (1565m2) while the cottage area is 1130 square feet (105m2) with an extra basement 538 square feet (50m2). It has a very spacious lounge with a kitchen, dining room and living room, all with a spectacular view of the sea.
There are (3) double bedrooms, each with its own bathroom, plus a fourth bathroom for guests. The cottage is equipped with an air-condition unit in the lounge, a large solar water heater, a new washing machine and a 646 square feet (60m2) spacious terrace viewing the sea.
Info: Michalis Alexakis, mobile 0030 6972735151
e-mail: michalisalexakis@hotmail.com

hi michalis,
you dont say who owns the other 50% or how it works only buying 50% of a cottage?! any chance of further information?!
perhaps with some photos  

I own the 50% of this cottage, while the other half belongs to my brother, who rarely uses this house. My brother spends just 4 weeks per year in Mochlos, together with his girlfriend, mostly during summertime.

Because of the inner design of the cottage, I believe that it is convenient to share it with somebody else, since there are 3 bedrooms, 4 bathrooms and lot of extra space.

Regards

Michalis Alexakis

I have a problem uploading photoes: So, if you wish, youcan see them here:
http://www.homesonsale.co.uk/mochlos_sitia_crete_cottage_for_sale-o62077-en.html

i cant see how Greek laws can accomodate buying half of a property with someone who's not family? surely when you purchase a property, you have solicitors draw up plans of what you are actually buying, can you please explain further how half ownership could really work in Greece for us?

you mention your brother uses the cottage for a month, does that mean any potential buyer either must get on with them or not live there for one month?

if anyone else reading this thread has already bought a 50% share in a property in Greece can you also post how and if this is really viable

I've just looked on the website and seen that this half share would cost you 150,000 euros!
boy has Mochlos gotten expensive since i was last there! lol

you could buy yourself one heck of a huge 100% owned property here for rather less dosh! http://www.cheaphousesforsalebulgaria.com/

Buying half of a property gives you 3 choices:
1. Enjoy it, even if the other owner also lives in. In such a cottage, with 3 bedrooms, 4 bathrooms and a huge basement, I believe it’s ok. You share the TV and the kitchen.
2. Share it in seasons: i.e., 6 months is 100% yours and 6 months ‘belongs’ to the other owner
3. ‘Cut’ it in the middle using a wall. In some houses (like mine) this is easy to do.

Greek law says: “the two owners have the same rights on the property”. In other words, it’s all yours, as it is for the other owner. The difference is that you pay less. Much less than 50% of the real value.
Mochlos is expensive. And in a little while, it will be even more. Fortunately, it’s still beautiful.

Michalis Alexakis