Investment Value
Crete is situated in the southeastern Mediterranean, in a central position surrounded by three continents: 100 kilometres from Europe, 175 km. from Asia, and 300 km. from Africa. It is generally recognized that few places on Earth can boast such a privileged geopolitical location.After Sicily, Sardinia and Cyprus, Crete, together with Corsica, is the fourth largest island in the Mediterranean.
If one considers that the potential of a tourist destination depends on its natural beauties and climate, then Crete is particularly well-endowed. It is surrounded by 1046 km. of coastline. With respect to length of sand beaches, the four prefectures of Crete occupy positions between 9th to 14th among the 52 prefectures of Greece.
At the same time the geomorphology of the island and its flora and fauna are both extremely varied and outstandingly beautiful: high mountains up to 2456 m. in altitude, deep gorges, forests of chestnut, oak, cypress, palm trees (Vai and Preveli), and cedar (Gavdos and Chrysi). Therapeutic herbs and a great variety of bushes abound (laudanum, dictamum, aspalathus, thymbra, etc.) in rocky places and on the steep mountain slopes. In the high mountains lives the Cretan wild goat or kri kri
Crete is a comparatively new market since it has only been possible to buy property in Crete Greece without a Greek partner since 1990. From that time on the popularity of Crete (especially for second homes and retirement homes) has been steadily increasing and so of course, have the prices. It isn't possible to put exact figures on the increases because they vary widely from area to area but a figure of 20% per year wouldn't be far off the mark.
The times are past where you will be able to find a plot of land for building or a house in need of rebuilding for next to nothing but there are still bargains to be had, especially if you are prepared to be a few minutes drive away from the sea.
If a good return on your investment is essential to you, we recommend that you aim for properties that are not too close to the sea (sea-front locations are already commanding high prices which are unlikely to keep rising at fast rates) but no more than 20 minutes drive, with good views and located not too far from towns (or large villages) with good amenities all year around and not only during the tourist season. With the growing popularity of Crete as a place to live or retire prices in such locations should keep rising for a good few years to come
