Hellenic Homes - Crete Property - Constructions - Real estate in Crete :: Investing In Crete :: Property in Crete is extremely affordable, when compared to the Northern

Why buying property in Crete means... clear horizons!
With the recent U.K. government initiative allowing people to invest in residential property through releasing monies held in their pension fund, there has never been a better time to buy a second home in Crete. Property in Crete is extremely affordable, when compared to the Northern Mediterranean, and its a much safer place to invest than other places nearby. However, since Greece joined the European Community, property prices have risen at a steady pace year on year.

The latest economic data points to the cost of living in Greece reaching parity with the UK by 2026. When you consider an average two bedroom detached house in the UK costs more than twice that of one in Crete, you can see that buying a home in Crete, is certainly a good move. Crete is an island paradise where a couple can live well on around 11,000 euros a year, and that would include running a small car and even comprehensive private health insurance too!

A look at the Last Ten Years
Integration in the European Union made buying property in Greece a relatively simple matter for EU nationals and they started buying. It was a few individuals here and there at the beginning who then passed on the word that Crete was a good place to live and more and more came, creating a real property boom in some areas. Not surprisingly prices have increased by a healthy percentage...maybe 20% a year on average which made property a very healthy investment indeed.

The advantages of building a new home in Crete

New properties will conform to strict safety standards and are built with a guaranteed building licence.
New houses are more likely to conform to contemporary demands: top level security, high tech heating, lighting and sound systems as well as fully fitted and equipped kitchens and bathrooms.
They are often economical to run as they are well insulated and built with the latest energy saving devices.
Some developers offer enticing deals like a mortgage and only with an initial payment of 10% to solicitors and legal papers - a tempting carrot for first time buyers
Most new build property are built under licence of the National House Building Council.
You can have a say in the colour, tiles and fittings and you will not have to suffer the bodge jobs and bad taste of the previous owners.
Major repairs and redecoration should not be necessary for many years
Developers are now carrying out basic landscaping so you will not spend your time and money in the design of the terraces.