Real Estate in Crete, Greece
Last updated on Jan 03, 2024
Summary: Expats and retirees talk about real estate in Crete, Greece? How do you find a home in Crete? Should you buy or rent? What is the cost of housing?
How do I find a place to live in Crete?
We asked expats how they chose their neighborhood and found a place to live. They answered:
"Finding a place to live in Crete, Greece involves several steps. First, you need to decide on the area you want to live in. Crete is a large island with many different towns and villages, each with its own unique character. Some popular areas include Heraklion, Chania, Rethymno, and Agios Nikolaos. Once you've decided on an area, you can start your search for a property. There are several online platforms where you can find listings for apartments, houses, and villas in Crete. Websites like Spitogatos, HomeGreekHome, and XE are popular among locals and expats. These websites allow you to filter your search based on location, property type, price, and other criteria. You can also consider hiring a real estate agent to help you with your search. A local agent will have a good understanding of the property market in Crete and can help you find a property that fits your needs and budget. They can also assist you with the legal aspects of buying or renting a property in Greece. Once you've found a property you're interested in, you should arrange a viewing. This will give you a chance to see the property in person and assess its condition. It's also a good opportunity to meet the landlord or seller and ask any questions you might have. If you're planning to rent a property, you'll need to negotiate the terms of the lease with the landlord. This will include the rent, the length of the lease, and any other conditions. Once you've agreed on the terms, you'll need to sign a lease agreement. If you're planning to buy a property, you'll need to hire a lawyer to help you with the legal process. This will include checking the property's title, negotiating the sale contract, and arranging the payment. Once the sale is completed, the property's title will be transferred to your name. Finally, once you've secured a place to live, you'll need to arrange for utilities like electricity, water, and internet to be connected. You may also need to buy furniture and appliances, depending on the condition of the property," said one expat who made the move to crete.
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What is a typical expat home or apartment like in Crete?
"A typical expat home or apartment in Crete, Greece, often reflects the traditional Greek architecture with a modern touch. The homes are usually white or pastel-colored, with flat roofs and rounded edges, blending seamlessly with the natural landscape. They are often built with stone, reflecting the island's rich history and culture. Inside, the homes are designed to be cool and comfortable, with tiled floors and high ceilings. The living areas are spacious and airy, often opening out onto a balcony or terrace with stunning views of the sea or mountains. The kitchens are typically equipped with modern appliances, while the bathrooms often feature walk-in showers and sometimes even a bathtub. The bedrooms are usually generously sized, with large windows that let in plenty of natural light. Some homes may also have a small garden or courtyard, filled with local plants and flowers. Many expat homes in Crete also have a swimming pool, providing a perfect spot to cool off during the hot summer months. Despite their traditional appearance, these homes often come with modern conveniences such as air conditioning, central heating, and high-speed internet. They are usually located in close proximity to local amenities such as shops, restaurants, and schools, making them ideal for expats looking for a comfortable and convenient place to live," said one person in crete.
What is the average cost of housing in Crete?
If you are thinking about moving to Crete, cost of living in probably a key consideration. Expats commented about the cost of housing:
"The average cost of housing in Crete, Greece can vary greatly depending on the location and size of the property. For instance, in the city center of Heraklion, the largest city on the island, you might expect to pay a higher price compared to more rural areas. On average, you could expect to pay around €1,500 to €2,000 per square meter for an apartment in the city. For a house in a rural area, the cost might be around €1,000 to €1,500 per square meter. However, these prices can fluctuate based on the current real estate market and other factors," remarked one member in crete.
Should I buy or rent a home in Crete?
If you have not spent a lot of time in Crete, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision:
"The decision to buy or rent a home in Crete, Greece, largely depends on your personal circumstances, financial situation, and long-term plans. If you plan to stay in Crete for a long time, buying a home could be a good investment. Owning a property allows you to build equity over time and could provide a sense of stability and permanence. On the other hand, if you're unsure about your long-term plans or if your stay in Crete is temporary, renting might be a better option. Renting offers more flexibility, as you can move without the hassle of selling a property. It also allows you to avoid the responsibilities and costs that come with home ownership, such as maintenance and property taxes. It's also important to consider the real estate market in Crete. If property prices are high and continue to rise, buying a home could be a good investment. However, if prices are stagnant or falling, it might be more cost-effective to rent. Lastly, consider your financial situation. Buying a home requires a significant upfront cost for the down payment, closing costs, and other expenses. If you don't have enough savings or a stable income, renting might be a more feasible option. In conclusion, both buying and renting have their pros and cons. It's important to carefully consider your personal circumstances, financial situation, and long-term plans before making a decision," said one expat who made the move to crete.
About the Author
Joshua Wood, LPC joined Expat Exchange in 2000 and serves as one of its Co-Presidents. He is also one of the Founders of Digital Nomad Exchange. Prior to Expat Exchange, Joshua worked for NBC Cable (MSNBC and CNBC Primetime). Joshua has a BA from Syracuse and a Master's in Clinical and Counseling Psychology from Fairleigh Dickinson University. Mr. Wood is also a licensed counselor and psychotherapist.
Some of Joshua's articles include Pros and Cons of Living in Portugal, 10 Best Places to Live in Ireland and Pros and Cons of Living in Uruguay. Connect with Joshua on LinkedIn.