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Overseas Property Forum
Haq Overseas Limited
GrekodomGlobal Properties is an aggregator where you can choose apartments in Crete for investment or to live in from more than 72 offers. Our catalogue contains ads for sale in the secondary market and in new buildings from proven developers. Use the convenient search filters to sort the options by price, area, location and amenities.
- The minimum cost of an apartment in Crete is EUR 250000
- The most expensive property is EUR 1.2 million
| Bedrooms | Minimum price (in EUR) | Maximum price (in EUR) |
|---|---|---|
| 1 bedroom | 46,000 | 242,000 |
| Two bedrooms | 70,000 | 465,000 |
| Three bedrooms | 73,000 | 1,05 million |
| Four bedrooms | 70,000 | 1,1 million |
| Five bedrooms | 70,000 | 865,000 |
- The minimum size is 50 m²
- The largest area is 570 m²
The State Greece Golden Visa Programme allows foreigners to become residents of the country for five years with the right to extend the residence permit unlimited times. The cost of purchased real estate must exceed EUR 250,000, but this price is valid only until August 31, 2024, after which it will be raised to EUR 400,000 and more.
Apartments for sale in Crete
The largest island of Greece offers a wide range of properties that can be bought for moving in, renting out, or using it as a vacation home. Now, it is one of the most important economic regions in the republic because of the high profitability of the tourist business. In ancient times, Crete was the centre of Minoan civilisation, so people now visit it to see the preserved historical monuments and excavation sites. The location is also in demand due to its mild climate, beautiful nature, and clean beaches. There is a convenient network of highways and necessary infrastructure: two international airports, universities, medical centres and entertainment facilities.
There are various apartments on the real estate market, from studios to penthouses. Buyers can also access maisonettes - often 2-story objects with private entrances, gardens and parking lots. Apartments in Greece mainly consist of a kitchen, living room, bedroom, bathroom and balcony. Some flats are complemented with terraces and storage rooms. The homes can be sold with furniture, air conditioners and appliances.
Most of the properties are on the secondary market. You can choose an apartment for sale in Crete in new buildings and projects under construction, mainly in Chania. New complexes are often handed over with communications: heating and cooling systems, alarm systems, thermal insulation and solar panels. Some buildings have amenities intended only for residents: swimming pools, terraces, barbecue areas, recreational areas and parking lots.
Apartment prices in Crete depend on the condition of the property, as housing in modern complexes is more expensive than in houses that require major repairs. As for locations, the most luxurious apartments can be found in the resorts of Lassithi, Heraklion, and Chania and more affordable ones in Elounda, Rethymno and Stavromenos.
Reasons for investing in an apartment in Crete
Buying property in Greece will be a profitable investment decision. Thus, in 2023, prices in major cities increased by 14.14%. This European region attracts investors with its warm climate, stunning coastline and many tourist attractions. There is a developed housing market where you can choose from small studios, apartments, maisonettes and modern penthouses near the coast.
In Greece, resident visas for real estate purchases are issued so foreigners can move to the republic for permanent residence with their families and travel to Schengen countries. The demand for the local market is confirmed by the share of purchases, which amounted to 80-85% in the first half of 2023. Foreign direct investment grew by 39.9% to reach EUR 1.1 billion.
Apartments will be profitable investments as they can be rented out and generate passive income. For short-term rentals, the price of apartments and flats in Crete is higher than for long-term rentals. Holiday accommodation is in demand among tourists who choose the island for a relaxing beach holiday and sightseeing. Professionals, entrepreneurs, students and retirees are looking for long-term rentals.
The price of flats for sale in Crete depends on the season. The highest attendance on the island is from mid-May to mid-October, due to which the cost can be increased. Return on investment in the country reaches an average of 4.82% per year. Payback also depends on the condition of the property, its proximity to the coast, and additional amenities.
Buyers can consider complexes at the construction stage, as projects are cheaper than by the time of completion of all works. Concluding a deal at the start is more favourable due to the lower cost, additional privileges and discounts that developers can offer
Buying an apartment in Crete
The website contains actual ads for apartments and villas in Greece. Presented housing in different price categories and locations of the country, which will suit buyers with different budgets and requirements. Check out the catalogue, where you can choose the property by the necessary parameters: type, cost, area, number of bedrooms, amenities and location. The built-in converter will easily convert the price into different currencies. Contact an agent directly to discuss a suitable property and purchasing process.