Chania Villas for Sale & Luxury Properties in Crete Market Trends (Updated: Jan 2021)
Finally, after more than a decade in recession, the ancient deities are once again smiling on Greece. The 2008 economic crisis shrunk the country’s economy by 25%, but over the past 18 months, the market has been slowly rebounding.
In the first eight months of 2019, the number of property transactions recorded by the land registry in Chania was up 45.6% on 2018. Property prices in Chania rose approximately 5% over 2019, but, across the country, property is still undervalued.
Helping recovery is the government’s Golden Visa scheme—offered to non-EU citizens and their family members in return for a property purchase. Qualifying investors get a residence permit and full access to the Schengen Zone.
To qualify for Golden Visa status, the total value of the property investment must equal or exceed 250,000 euros (US$277,400). With undervalued property countrywide, those 250,000 euros can go far.
Renowned as the birthplace of Zeus and the land of Minoans, a great ancient civilization, Crete is the largest island of Greece’s 227 inhabited islands and especially very popular with European and Asian tourists.
It’s among the top five destinations in the country that saw 40 million tourists in 2019—accounting for 19 billion euros in revenue.
Though you’ll see villas for sale in the seven- and eight-figure range, you’ll also find property geared toward the Golden Visa minimum entry of 250,000 euros… and just above.
|Property Type||Price Range (€)|
|1-bedroom apartment||70,000 – 120,000|
|2-bedroom apartment||90,000 – 220,000|
|2-bedroom townhouse||95,000 – 250,000|
|2-bedroom bungalow/maisonette||120,000 – 300,000+|
|Village house||50,000 – 200,000|
|Farmhouse (restored)||160,000 – 400,000|
|Stone house||150,000 – 500,000+|
|3-bedroom detached villa||220,000 – 500,000+|
|Luxury villa||350,000 – 1,000,000+|
One development near Chania city is offering apartments from 285,000 euros (US$316,180). For that price, you get a 60-sq.m. property with two bedrooms, bathroom, kitchen/living area, and covered balcony. All units provide spectacular views of the Aegean Sea and the White Mountain and are just meters from the beach.
Exclusively Listed Properties for Sale in Chania
Whether you are looking for a primary residence a holiday home in Chania, the real estate market of Crete remains one of the safest and most desirable real estate markets in which to purchase.
At ARENCORES we can assist with negotiations and professional advise on whether a property offers a secure investment with potential for high returns.
Our exclusive Chania houses for sale listings and portfolio covers all types of residential property, from studios, apartments and detached house to luxury villas and sea-front properties.
Off-Market Chania Crete Properties for Sale
Many of our residential properties are off-market and cannot be found on the internet or through other agents so we would encourage you to enquire.
Our dedicated and professional team look forward to helping you exceptional houses for for sale in Chania (or investment properties) and we can connect you to a panel of carefully selected legal and tax consultants to assist you throughout the transaction process.
If you are looking to buy a house in Chania, Crete or need assistance in identifying a magnificent real estate asset or property investment, please contact us +30 2821112777 or email us at: [email protected].