Real Estate In Crete
Posted 03 December 2007 - 09:23 AM
I'm new to this site and looking forward to sharing and learning with you all.
How much does an average house in crete cost to purchase? I'm looking at some options of possibly moving there in a few years. My dad is from rethymnon.
Posted 03 December 2007 - 11:35 AM
ps/ im sure someone will get back to you about house prices.
Posted 03 December 2007 - 12:01 PM
Posted 03 December 2007 - 07:06 PM
Posted 03 December 2007 - 07:24 PM
Good luck anyway.
Posted 03 December 2007 - 07:41 PM
I imagine location might make a difference too. This house was near to Limenes Herssonissos on the north coast so although very touristy perhaps he was hoping for a rich tourist to buy it!
Posted 03 December 2007 - 09:47 PM
You may read my comments and think I am not being helpful - but I think it is worth risking unpopularity to give some straight answers.
I don't live in Crete, I would not wish to - but don't let that fact make you think I don't love the place- and I have done so from the time I first set foot there 17 years ago.
Making a successful move to Crete , as Lil says, requires a lot of work. Any fool can watch a TV "Your home in Crete", part with a big wad of cash and spend ages regretting what they did. On other sites there are dozens who have boasted of their new Greek home, their holiday home - or whatever. Many have quielty disappeared having lost lots of money.
That said, there are a good few people around who have put a lot of effort into finding out about the property market, the law relating to owning a house there, how that impacts upon work, your vehicles, your taxes, your will etc etc etc. How will you derive an income to live there, some expect to walk into a high paid job- few do. Those who do the research seem to stand the best chance of making a move to Crete successful.
It seems, from the problems others have had, that you need a good developer, a good builder, a good estate agent, a good lawyer, a good accountant - and a good knowledge of the language helps.
There are good professional people about, I can't recommend any from personal experience but other may (but don't just take one persons word for it). Be selective in who you take advice from. Be very wary of some ex-pats who are making money out of fellow countrymen- there are a few real crooks out there.
Compared with some other sites, members here with a property in Crete are fewer - but our members seem to have fewer problems. Seek out the real successes, not the vociferous and usually short lived boasters.
One final word. If, when you have taken all into account, you are still serious, then rent in Crete for a year. That gives you time to really see how things are, to find out where you might want to settle, and to experience the seasons, the cold of winter- and the relentless heat of summer!
Whatever you decide, good luck with it.
Posted 04 December 2007 - 07:38 AM
Posted 07 December 2007 - 08:25 PM
Posted 08 December 2007 - 03:33 PM
I could not learn much of you in your forum profile. But, as extensivly mentioned in this thread and "some" other ones on this forum, buying a house in Crete is not quite something like making a cup of tea on a sunday afternoon. I have up to now two (girl) friends who, for the emotional reason, started to live in Crete.
One also bought a house near Sitia. The first left Crete a few month ago after living and working in Chania for more than 5 years. She was left alone in the cold by the sometimes "complicated" friendliness of the locals. In this case the landlord was the malefactor.( )
The other one, from Sitia, had to end the relationship last month because she could no longer handle the machismo of her friend. Maybe you want to buy her house (without friend)
Stay cool and
Posted 31 January 2008 - 06:40 PM
At present I am just researching property in Crete. There is a program on the local radio station which brought up the topic of House prices in Crete. The people involved are returning home in order to look after their elderly parents here and have been trying to sell their house for over a year without success to date.
They mentioned that the market for 2nd hand houses has fallen badly in the last few years and most buyers are buying new, even then they said the new properties are getting harder to sell due to their being so many for sale at present.
Hopefully there will be someone on this forum who could verify or contradict that the market is difficult at present.
In general are secondhand properties selling well?
I also read elsewhere about several English people wanting to return to the UK and that they were finding it hard to find a buyer and this radio program is saying much the same. Is this the situation at present?
Posted 08 August 2008 - 01:12 PM
It looks like (holiday) houses in Crete is a booming business especially the ones that do not fit the landscape properly. An old lecturer of mine always responded to our housing designs, yes it's beautiful but is it area bounded or can it also be build in Timbuktu.
There are however a lot of stone houses for sale that need rebuilding, restoration etcetera. In my opinion these are the ones to go for. They already fit the landscape or village and are more fun because less expensive at the end. And not the least reason to do this; it can be rebuild by local craftsmen. This way the money ends up in their pockets.....
So if you have imagination and a feeling for it contact me next year and we'll find something like this?
Posted 15 August 2008 - 12:25 PM
have dropped their prices by approx 20/25%.
This could be because they were overpriced to start with but I don't think so and not by that amount.
Is the property market in Crete on a downturn like many other places?
A drop in the asking price on one property is one thing but this is on about 6 or 7 properties.
Posted 16 August 2008 - 12:09 PM
I think that you have to understand that there are several property markets in Crete. Estate agents (who were unknown here 'till the Brits arrived) cater for different markets. The British agents, selling only to the Brits are struggling because of the UK credit crunch. On the other hand the agents who sell mainly to Russians are experiencing a boom. In the middle are those who cater for the Dutch, German and other markets which are still fairly active. Obviously the multi-lingual agents are doing quite nicely.
It will also depend on which part of Crete you are interested in. In the greater Chania area, where most Brits go, I suspect that houses are selling much slower. Here in the east, the Russians seem to be buying everything.
As an illustration, I have a Greek friend who does day yacht charters, last year his clientel was almost exclusively English with a few Germans. This year, so far, all his customers have been Russian.
Hope this helps.
Posted 17 August 2008 - 11:19 AM
Posted 24 August 2008 - 10:35 AM
Posted 24 August 2008 - 12:59 PM
I think so too Yannis, if only to tell them to behave and try to adapt to the local culture.
John is 100% right. I think young Cretans should start learning Russian quickly...
But let's face it we all know a lot of our own countrymen seem to forget who and what when on holiday. And not even then...
Must have something to do with education or rather the lack of it.