Crete is a comparatively new market since if you were
a foreigner it has only been possible to buy property in Greece without
a Greek partner since 1990.
Before then only few foreigners with
a good knowledge of Crete and trustworthy friends were willing to
invest their money in property. The advent of the European Union
changed all this and more and more EU citizens have been buying property
on the island.
At first it was a trickle and whilst it hasn't yet turned into a
flood there seem to be more and more people buying either land for
construction, old houses or ruins for renovation or brand new houses.
Some buy a second home, others plan to move to Crete "lock,
stock and barrel" whilst more and more consider retiring to
an island with a better climate, lower costs of living and almost
non-existent criminality - an attractive combination.
This has led to a significant increase in costs of property and
the times are past where you were able to find a plot of land suitable
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.
The first thing to consider is that building regulations are a lot
tighter here than it may appear at first sight and that you will
not get away with buying a plot of land and building your house as
a DIY projects as there are plenty of regulations (the most significant
one is probably the anti-earthquake building specification) that
have to be adhered to.
The increasing interest in buying land and houses in Crete has also
led to a proliferation of estate agents in the cities and popular
areas (such as the region of Apokoronas). Whilst you will need an
estate agent to buy property and you will need an architect (a local
one is best because he or she will know the rules may have "his" people
to take care of the construction) you must be careful in your choice.
There are good estate agents and there are also people out to make
money only. Do choose carefully, shop around, get an impression of
the seriousness of the agent and if you can, get recommendations
from people who have already bought properties in the area you are
interested in. Don't rush things!
Trying to build or renovate a house without using a local architect
is not a good idea and may be a false economy (if saving money was
your intention in the first place). The climate of Crete is very
different from the climate of northern Europe and may demand different
types of building materials and procedures. Dealing with builders
without a local architect to oversee the project may also have catastrophic
(or at least expensive) results. I don't think that this is because
local builders are bad but it is more likely due to communication
For more information on different aspects of buying property in
Crete, follow the links below. Please note that this information
is only given as guideline by an informed lay person, not by a specialist
in the real estate or buildling trade.
Companies with Property for sale in Crete
property - Crete property for sale in Greece. Easily search
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