23/03/07 - Holiday Home Investors Attracted to Crete

The beautiful island of Crete is known for its almost year round sun, unspoilt beaches and dramatic coastline. And for those looking for a holiday home away from the Costas, Crete is also fast becoming a good investment.

Since 2000, the price of property in Crete has increased 15% year on year and, while property continues to promise strong capital growth, prices are still inexpensive compared to other European countries. This combined with the island's stable economy and low cost but high standard of living (30-40% cheaper than the UK) makes Crete an ideal location for property investment.

As one of the largest of the Greek islands, Crete also offers the contrast between developed tourist areas and quiet undiscovered coves and invigorating mountain villages. English is also widely spoken and the relative ease of reaching Crete from the UK adds to the appeal.

Susan Peters, Sales & Marketing Manager, Cybarco (UK) Limited who will be exhibiting at the Homebuyer Show said: “Situated in the middle of the Mediterranean, Europe’s most southern island offers one of the best climates on the continent with 300 days of sunshine every year. The island has much to offer from quiet mountain villages, long sandy beaches, rocky bays and an abundance of flora and fauna.”

The beautiful Venetian town of Chania

One area of the island which is currently attracting property investors looking to buy a piece of this island is the little known town of Chania which is situated on the western side of the island.

The beautiful Venetian town is filled with narrow winding streets leading down to the harbour and is full of ancient and modern monuments. With an excellent choice of restaurants and bars the town has much to offer. With a population of approximately 140,000 the town has kept its rich cultural heritage and traditions, and walking through the streets visitors will be treated to a real taste of Cretan life.

Moving west along the coast a few kilometres leads to beautiful sandy beaches and crystal clear water, offering pure tranquillity after the bustle of the town and beautiful natural views with the Cretan mountains providing awe-inspiring views.

The village of Maleme is close by and provides a host of local amenities including banks, restaurants and supermarkets.

Susan Peters, Sales & Marketing Manager, Cybarco (UK) Limited said: “Crete is an island of wonderful contrasts, which offers buyers a real opportunity for property investment by way of its inexpensive prices, prospects for future capital growth and secure freehold ownership unattached from expiry dates, which means that the investment can be passed on to descendants.”