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Real Estate in Rethymno, Greece | Expat Exchange
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Real Estate in Rethymno, Greece

By Joshua Wood, LPC

Last updated on May 12, 2024

Summary: Expats and retirees talk about real estate in Rethymno, Greece? How do you find a home in Rethymno? Should you buy or rent? What is the cost of housing?

William Russell
William Russell
William Russell
William Russell

How do I find a place to live in Rethymno?

We asked expats how they chose their neighborhood and found a place to live. They answered:

"Finding a place to live in Rethymno, involves several steps. First, you need to determine your budget and the type of accommodation you're looking for. This could range from a small apartment to a larger house, depending on your needs and financial situation. Next, you should research the different neighborhoods in Rethymno to find one that suits your lifestyle and preferences. Some areas may be closer to the beach, while others may be more central and closer to amenities like shops and restaurants. Once you have a clear idea of what you're looking for, you can start your search. There are several online platforms where you can find listings for rentals in Rethymno, such as HomeGreekHome, Spitogatos, and XE. These websites allow you to filter your search based on factors like price, size, location, and type of property. In addition to online listings, you may also want to consider hiring a local real estate agent. They can provide valuable insight into the local market, help you negotiate prices, and guide you through the process of signing a lease. When you find a property you're interested in, it's important to visit it in person before making a decision. This will give you a chance to inspect the property, check its condition, and get a feel for the neighborhood. Finally, once you've found a place you like, you'll need to sign a lease. Make sure to read the contract carefully and understand all the terms before signing. It's also a good idea to have a Greek-speaking friend or lawyer review the contract to ensure you're not missing any important details. Remember, finding a place to live can take time, so it's important to be patient and not rush the process. With careful planning and research, you'll be able to find a great place to live in Rethymno," explained one person living in Rethymno, Greece.

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What is a typical expat home or apartment like in Rethymno?

"A typical expat home or apartment in Rethymno, is often a blend of traditional Greek architecture and modern amenities. These homes are usually located in the heart of the city, close to local markets, restaurants, and cultural landmarks. They often feature spacious living areas, with one to three bedrooms, a fully equipped kitchen, and a bathroom. Some apartments may also have a balcony or terrace, offering stunning views of the city or the Aegean Sea. The interiors are often bright and airy, with high ceilings, large windows, and white-washed walls. Traditional Greek elements such as stone walls, wooden beams, and ceramic tile floors are often incorporated into the design. Modern amenities such as air conditioning, Wi-Fi, and modern appliances are usually included. Some expat homes may also have access to a shared pool or garden area. Despite being in the city, these homes often offer a peaceful and relaxed atmosphere, reflecting the laid-back lifestyle of Rethymno," remarked one member in Rethymno.

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What is the average cost of housing in Rethymno?

If you are thinking about moving to Rethymno, cost of living in probably a key consideration. Expats commented about the cost of housing:

"The average cost of housing in Rethymno can vary greatly depending on the type and location of the property. For instance, a one-bedroom apartment in the city center may cost around €400 per month to rent, while a similar property outside the city center may be around €300 per month. If you're looking to buy, the average price per square meter for an apartment in the city center is approximately €1,500, while outside the city center it drops to around €1,200. However, these prices can fluctuate based on market conditions and other factors," said one person in Rethymno.

Should I buy or rent a home in Rethymno?

If you have not spent a lot of time in Rethymno, 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 Rethymno, largely depends on your personal circumstances, financial situation, and long-term plans. If you plan to stay in Rethymno for a long period, buying a home could be a good investment. Owning a property allows you to build equity over time and could provide you with a sense of stability and permanence. On the other hand, if you're not sure about your long-term plans or if your job requires you to move frequently, 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, repairs, and property taxes. Financially, buying a home requires a significant upfront cost, including a down payment, closing costs, and potential renovation expenses. If you don't have enough savings or if you prefer to invest your money elsewhere, renting might be more suitable for you. However, the rental market in Rethymno is quite active, especially during the tourist season, which could lead to higher rental prices. In contrast, the cost of buying property in Rethymno is relatively lower compared to other parts of Greece, which could make buying a more attractive option. In conclusion, whether to buy or rent a home in Rethymno, Greece, depends on your personal and financial circumstances. It's important to weigh the pros and cons of both options and consider seeking advice from a real estate professional or financial advisor," said one expat in Rethymno.

About the Author

Joshua Wood 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.

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SJB Global is a top-rated financial advisory firm specializing in expat financial advice worldwide, offering retirement planning & tax-efficient solutions with a regressive fee model.
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