Crete tops foreign holiday home buyer picks

Crete is the preferred destination for foreign holiday homebuyers this year. According to Elxis – At Home in Greece data collected from its client base, this year one-third of buyers chose Crete for the purchase of a holiday home.

They mainly come from Western European countries, such as the Netherlands, Germany, Belgium, France and the UK.

Notably, 76.6% of prospective buyers plan to proceed with the purchase of a holiday home within the next 12 months.

Meanwhile, half of those prospective buyers intend to move forward within the next six months.

At the same time, 36.5% of buyers who choose Crete have a budget up to €400,000.

An additional 22% are willing to invest between €400,000-600,000, the data shows.

Seven out of 10 buyers choose newly built properties or homes constructed in recent years, and buyer priorities include sea views, proximity to the sea and a swimming pool.

“The large size of Crete means there is still a significant supply of plots suitable for the construction of new homes, especially in areas close to the sea, which is the main requirement of buyers from abroad,” said Elxis CEO George Gavriilidis.

“It is also important that Crete has perhaps the longest tourism season in Greece, thanks to its mild climate, while enjoying a very strong tourism brand name.

This allows owners of modern holiday homes to expect highly satisfactory returns and profits should they decide to” rent their property and secure income that way, he added.

Crucially, property prices in Crete remain at reasonable levels.

These home are clearly more affordable than in other parts of Greece, such as the Ionian Islands and the Cyclades.

Today in Crete, a newly built villa with a swimming pool sold off plan starts at €3,800 per square meter and can reach as much as €4,500/sq.m., depending on the construction specifications and location.

Meanwhile, in Corfu, a house of similar specifications may cost up to €5,600/sq.m., while in Lefkada the same house with those specs may reach €5,500/sq.m.

Cre: ekathimerini