Firstly I would say this is a great value stay in expensive Oia. The pool view is great so if anyone wants to stay at the studio, remember to ask for a pool view studio, you wont regret it. This hotel is located the other side of the town, which needs to walk around 15mins to reach the busiest street of Oia. The cons i would say the owner is not so friendly, although he would try to answer your question, with no smile on his face at all.
Overall i did enjoy the stay, happy with the price and location.

My girlfriend and I stayed in a studio apartment for a few nights in August.

Positive: The room was fairly basic, but it was clean and comfortable with a small balcony. While the balcony was not on the caldera side we still had a view out over the ocean, mainly we just used it eat breakfast each morning. There is a shop across the road where you can buy groceries (we puchased food for breakfast - cereal, milk, coffee and fruit). The big positive is that there are two pools with the front pool overlooks the caldera. Fair price.

Negative: The lighting in the room was not great. The main draw back however was the pool - which needed the water properly filtered. In the evening when the light is not direct you can see a lot of random particles including hair floating in the water. I

We stayed in an apartment with a view toward Ios (not the caldera). The apartment was large with two bedrooms and worked great for our family. It had a small kitchen that we used for making lunches and a couple of dinners due to the poor exchange rate of the US dollar and the Euro. Both pools were fine, but we loved swimming in the pool with a view of the caldera. The other larger pool is a little boxed in, but is shallower and my daughter liked that. The hotel's a really great value for staying in Oia with a pool overlooking the caldera. It's a little walk away from Oia, but it's also out of the hustle and bustle of all the day trippers. We also liked the big chess board on the deck looking away from the caldera.

Wifi costs 1 Euro for 30 minutes or 5 Euros per day. Not too expensive, but it should be included. Breakfast costs 7 euros per person. There's a mini-mart across the street which sells cereal, milk, fruit and other food so you can have a great breakfast for a much lower cost on your own balcony. Dish soap and a dish rag is not included, so bring your own. Most of the walk to Oia can be made on pedestrian only paths, but a short section must be made on the busy road going into Oia. There's a bus stop just out front of the hotel, and the fare to Fira is 1.6 Euros per person. Wish they provided a port transfer service, but the hotel's a great value even if you have to take the bus.

I have stayed 6 times over the last 15 years and I would not stay anywhere else. It is family owned and run and Petros and the staff are amazing. The best value in "over priced" santorini and the town of oia is the only place to stay. Splurge and rent a car on arrival. Other hotels/resorts have frills and all kinds of upgraded accomodations.
If you want to spend $400/ night,
Olympic villas is not for you.
I have stayed on my own, as a couple and with friends. Petros xnd staff is the real Greece and oia/Olympic villas is the best!