LifeStyleHomes > Everything About Crete

Crete; the island of myth and legend, its ancient history, its legendary hospitality.

Varied and beautiful landscapes play host to visitors and residents alike. People looking for and finding the tranquillity and quality lifestyle of mythical proportions in most other established European nations.

- According to Buying a Property in Greece Magazine property in the north west of Crete has risen by 25% over the last 12 months (2005-2006).

- Crete is an emerged market but still in its infancy. Those investors who are lucky enough to be looking for a second or permanent home are perfectly placed to snag a bargain.

- Land and properties are available at very reasonable prices compared with other EU nations. We are beginning to see land prices, building costs and pre-owned properties rise significantly this year. (2005 - 2006)

- Good investment return. If you are looking to rent your property out, for which you need an EOT licence, (see Q&A) then demand is currently outstripping supply.

- Greece has the highest percentage of home ownership in the EU. The culture of Greek families is to buy houses for children to start them well in their married life. What this means for the investor is that there is always a buoyant market for resale properties.

- The government may increase the amount of land you need to build a house in order to curb explosive development and maintain a healthy market.

- Low repayment mortgages are available from many lenders across Europe including Greek banks. Typical rates of 4 -4.5% can be found.

- House insurance prices are very reasonable

- Crete is 70% English speaking with a high standard of education

- Statistics show that Crete has half the unemployment numbers than those throughout the rest of Greece, currently running at 2%