Crete is one of the largest islands in the Mediterranean and is easily accessible from the UK with two international airports. With a warm climate and more than 300 days of sunshine a year, the island is a fantastic place to relocate to or buy a holiday home.
Enormous potential
“Crete is so varied, and you can explore a new area each week, if you want to,” says Nikos Skarakis, from Hellenic Homes. “There are properties by the sea, or inland, to suit a wide range of budgets. At Hellenic Homes we offer several developments located in picturesque Cretan villages, all within easy reach of local beaches and other amenities. “For example, Azure Beach, which is right by the wonderful beach at Nopigia, on the outskirts of the beautiful, traditional village of Kolymbari, is an ideal place to have a holiday home. It has good access to public transport, shops, health centres, restaurants and tavernas, which also makes it ideal for year-round living.” Those people who own a property in Crete can also make worthwhile amounts of money by renting their home out to visitors or holidaymakers, when they are not using it themselves.
“Crete is a long established tourist destination,” says Nikos, “and you can certainly use your property to generate rental income from tourists,” . “Several companies, including Hellenic Homes, offer a villa rental return scheme which can guarantee up to 25 per cent income over a five-year period. We also work with a sister company, Hellenic Hotels & Villas, which offers buyers a property maintenance service. “Employing the services of a property maintenance company is a good idea and always a worthwhile investment because it means someone is on hand to look after your property, even when you are not there. They can handle the bookings, and take care of the garden, the swimming pool, and organise for someone to carry out general maintenance on the property.”
In effect what you are buying with the use of a property management company is peace of mind. You don’t have to worry about what hapens in your absence. You may read about the latest heavy rains or power cuts on the BBC website but you can rest assured knowing that if there were any damage to your property you would probably know about it before hand. The advantage of having someone on the spot is that they can carry out regular checks on the property and catch problems before they escalate.
Attractive investments
Despite the current Euro/Pound exchange rate uncertainty Crete is still proving to be a particularly popular location for those looking to buy a property abroad, whether for a holiday home or to use as a retirement home in years to come. Emmanuel Peponis, architect and owner of Crete Homes says: “Property in Crete is proving to be a good investment. Even people whose number of holidays abroad are limited due to work commitments are still looking to buy property primarily for investment purposes, and secondly for holidays for themselves and family.” People are drawn to Crete because of the variety of landscapes and attractions the island offers and of course, the healthier lifestyle, as people spend more time outside and eat fresh local produce, rather than processed ready meals and fast food. “Crete offers snow-capped mountains, crystal clear blue waters, and year-round living with a wide range of activities,” says Johanna Fröhlking from Atrium Crete Estates. “I love walking in the mountains and every time I venture out I can guarantee I will discover something new. Crete is more than just Knossos, hotels and sandy beaches, and it is different to other Greek islands. “Crete is like a country in itself. Its location, so close to Africa, brings us the mild and warm climate which everyone loves so much. “Sunshine, healthy living, and friendly people are such simple things but they are what makes us happy. “The property market here is still fairly new and is steadily growing, which means property prices are increasing. Greek banks are now providing better services to foreigners, meaning easier financing and in most cases the possibility to finance up to 100 per cent of the property value with a Greek mortgage.”