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Haq Overseas Limited
Overseas Property ForumThe portal features approximately 2066 listings suitable for both personal living and investment in properties on Crete, Greece. Use the search function to select the ideal property based on price, size, amenities, location and proximity to the sea. Leave your contact details on the site and an agent will promptly contact you to discuss your preferred house or apartment and the purchase process.
- Minimum property prices on Crete: EUR 99179
- Highest price: EUR 10.5 million
- The minimum size is 29 m²
- The maximum size is 1,600 m²
The most popular destinations for buying housing include:
- Heraklion: The capital of the island and one of the largest cities in the Republic. Renowned for its museums, restaurants, entertainment venues and university, the city offers luxurious accommodation, including beachfront properties;
- Agios Nikolaos: One of the most upscale locations with luxury villas. Some areas feature yacht clubs, golf courses and restaurants;
- Rethymno: A tranquil town with historic landmarks and a marina. The market offers both modern and traditional homes;
- Chania: The former capital of the island, famous for its Venetian-style buildings. Buyers can find various types of homes, ranging from detached houses to apartments in apartment complexes.
To obtain a 5-year renewable residence permit, foreigners can purchase real estate in the area for a minimum of EUR 400,000. This visa is granted not only to the owner, but also to their spouse, parents and children, subject to certain age restrictions.
Property on Crete
Crete is the largest Greek island, surrounded by the Ionian, Cretan and Libyan seas. It’s a major economic and tourist centre of the country, with a well-established leisure infrastructure. Historically, the island was the centre of the Minoan civilisation and offers numerous cultural landmarks, including the archaeological sites of Knossos, Gortyn and Phaistos. The island has 2 international airports, several universities and numerous entertainment venues, making it attractive for permanent residence.
Real estate for sale on Crete offers a variety of options to buyers:
- Apartments and studios, ranging from studios to 5-bedroom units. These properties are sometimes fitted with appliances and have balconies or terraces;
- Houses and villas in Greece often include private grounds and parking. Exclusive villas come with pools, spacious living rooms, barbecue areas and Jacuzzis;
- Townhouses, usually with at least 2 storeys and private entrances. These properties may offer amenities exclusively for residents, including pools, relaxation areas and BBQs.
Villas and apartments are primarily available on the secondary market. Additionally, there are new developments and projects under construction in Chania, Kalives and other areas. These buildings often feature swimming pools, sports areas, barbecue areas and parking spaces exclusively for residents.
Prices of real estate on Crete vary significantly by location. The highest prices are typically found in Chania, Heraklion and the resorts of Lassithi. More affordable properties can be found in Stavromenos, Rethymno and Elounda. The final price is also influenced by the condition of the property, its proximity to the sea and additional amenities.
Reasons for investing in property on Crete
Crete stands out as one of the most attractive locations in Europe for investment. Several key factors contribute to this appeal, including a well-developed market of property in Greece, the availability of properties across various price points and high yields, particularly during the peak tourist season. Both villas and apartments have experienced price increases; for instance, urban housing prices rose by 14.14% in the second quarter of 2023.
The Republic is in high demand among foreign investors, who accounted for over 80% of purchases in the first half of 2023. Foreign direct investment in real estate reached EUR 1.1 billion, marking a 39.9% increase compared to the previous year. This interest is linked to the "Golden Visa" programme, which enables investors and their families to obtain a residence permit and the right to visa-free travel within the Schengen area.
Property for sale on Crete serves as a long-term investment tool, capable of generating passive income. The island attracts tourists with its stunning sandy beaches and azure sea. Additionally, Crete boasts numerous historical monuments, museums and cathedrals. Increasingly, foreigners are choosing to move to the island as permanent residents, opting for houses or apartments for long-term living.
Rental prices for properties on Crete for investment vary according to the season, with favourable holiday weather lasting from April to October. The average annual yield on investment in the country is 4.82%. Profitability can vary based on factors such as the month, the condition of the unit, its size and its proximity to the sea.
Buyers should consider purchasing real estate under construction, which is generally more affordable compared to apartments in completed complexes. It’s advantageous to negotiate deals in the early stages when developers offer the most favourable conditions and additional benefits.
Buying real estate on Crete
Global-Property.Investments features up-to-date listings of villas and apartments in Greece across various price ranges. The portal offers attractive deals from reliable developers and estate agents with extensive market experience. Browse the catalogue using convenient search filters for total area, number of bedrooms, additional amenities and location. A currency converter enables you to quickly convert prices into Euros, Dollars and other currencies.