Beachfront property for sale: on Crete in Greece (2024)

FAQs

Are property prices falling in Crete? ›

That is one reason why the harsh economic measures are hurting not only the property market but business in general. Indeed it has contributed to the falling property prices here so taking a contrarian position, it is the ideal time to buy a property in Crete. [2022 update …

Home hunters are spoilt for choice in Crete, probably the best island choice for year-round living, including retirement, but also a place well suited for family holidays too and plenty of sunshine. In fact, it gets a big fat Greek tick. Use the bar above to search for a property for sale in Crete.

Popular Greek Islands only experienced a short and slight bump during the economic crisis. Holiday and investment destination islands like Crete still offer a good margin for an upside as of 2022; the potential for upside is followed by Lefkada and Corfu.

Heraklion City is the capital city of Crete and is also the seat of Crete's cultural and economic centre. Archanes, Krasi, Zaros, Vori and Agia Varvara are among the most beautiful villages in this area with many foreigners looking to purchase an investment or vacation property in any of these spectacular destinations.

To retire comfortably to Greece, however, it would be ideal to have a monthly income of €3,000 to €4,000. EU citizens may apply for a registration certificate after they've lived in Greece for three months.

Whether you seek natural beauty, ancient ruins, or vibrant city living, Crete is one of your best choices for year-round living. With a population of over 630,000, the island is fully functional 12 months a year.

Yes. Anyone purchasing a property is required to have a Greek Tax Registration Number. You should apply to the local (Greek) tax office, with your passport/ID and sometimes birth certificate. Your appointed solicitor can make the application on your behalf, if you have granted him/her Power of Attorney.

Can I retire in Crete? ›

Retire in Crete

If you're looking for a coastal retreat that combines natural beauty with cultural heritage, look no further than Crete. As Greece's largest island, Crete offers a diverse range of experiences for retirees.

Generally, the cost of living in Crete is low. As a guide, current basic living expenses (shopping, petrol, mid-day coffees, evening drinks, etc.) for a single person are around €700 – €1,000 per month – less if you want to live frugally.

The lowest average sales prices are observed in Kos, at 1,381€/sq. m. and the Northeast Aegean islands, Chios, Samos and Lesvos. In the Ionian islands, Kefalonia is the most expensive at 2,283€/sq.

Kalamata

Probably one of the cheapest places to retire in Greece, Kalamata offers retirees excellent amenities, beautiful natural surroundings, picturesque beaches, and a high quality of life.

How long can you stay in Greece if you own property? You can get a residence permit if you own a property in Greece. With this document, you are allowed to stay in Greece for as long as you want. However, you need to renew your residence permit every five years.

On the other hand, the National Bank of Greece is more optimistic, forecasting an average price growth of 7% for 2023-2024. The overall forecast for the period from 2025 to 2030 anticipates an average annual growth in selling prices of 5%.

From 2010 to Q2 2022, the housing market in Greece recorded a 22.5% decrease in house prices – the sharpest decline among 24 European Union's members, according to data from Eurostat, the EU's statistics office.

Within this market, Residential Real Estate holds the dominant position with a projected market volume of US$1.05tn in 2024. It is expected to display an annual growth rate (CAGR 2024-2028) of 1.86%, resulting in a market volume of US$1.41tn by 2028.

If you dream of buying an apartment or house in Greece, now seems to be the optimal time to do so. Property prices in this country remain affordable but are increasing every year: value of the Greek realty is not falling anytime soon.