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Greece: Crete

Overview

Nearest Airports – Heráklion and Chania (international), Sitia (domestic).

Crete (pop. 578,250) is the largest Greek island (almost a country on its own) and the fifth-largest in the Mediterranean; for many it’s the quintessential Greek island. It’s noted for its mild winter climate, beautiful beaches, hospitable people, and as a botanical and ornithological paradise (it’s a great place for walkers). These attractions have made Crete the destination of a quarter of all tourists visiting Greece and the most popular region for holiday homes – consequently it has a large number of resident expatriates. It was home to Europe’s first civilisation, the Minoans, and their ancient sites are scattered throughout the island. Crete has a flourishing agricultural economy and is one of the few places in Greece that could survive without the tourist trade, although much of the coast has been developed as resort areas. Crete is an island of contrasts – inland and away from the packed resort areas are small villages almost completely untouched by modernity. The island is divided into four administrative prefectures: Chania, Heráklion, Lassithi and Rethimnon.

Heráklion, the capital, lies on the north coast of the island and is the fifth-largest city in Greece and home to nearly half the island’s population. It has the highest per capita income in the country, although its wealth isn’t reflected in the infrastructure. The city has a glorious past, particularly during the Middle Ages, a splendour that’s reflected in its Venetian architecture and city walls. Heráklion is a busy city with a vibrant night-life. Knossos, the main Minoan site and largest palace, is situated close to the city.

To the east of the capital is the area known as the ‘Cretan Riviera’, packed with popular resorts such as Hersonissos, Malia and Stalidha, and bustling beaches. Aghios Nikolaos (known as ‘Ag Nik’) was once the ‘St. Tropez of Crete’ and has the best and most expensive hotels on the island. Inland is the rich agricultural plain of Lasithi, famous for its windmills that are used for irrigation.

On the east coast, Sitia has a busy port and is the site of a number of new residential developments, although this part of the island is relatively unspoilt. Europe’s only palm tree forest is at Vái on the east coast. In the south, the numerous gorges and cliffs mean there are few towns, although Mátala has a well-known beach and Arvi’s microclimate permits the cultivation of bananas and pineapples. Samariá Gorge in the White Mountains (Lefka Ori) is the longest ravine in Europe and one of Greece’s most visited natural spots (open from May to October).

The west of the island is the least inhabited and although there are a number of resorts, they’re less developed than those in the east. Rethimnon, a town of many contrasts, is the smallest of Crete’s four major towns and the least visited. It has an attractive Venetian harbour surrounded by fish restaurants and a handsome old town with a wealth of Venetian buildings from the 13th to 17th centuries. Crete’s second-largest city Chania – like Rethimnon a former Venetian town – was the island’s capital until 1971 and the old city around the Venetian harbour has retained its unique charm. It’s a bustling harbour town with many attractive townhouse properties (home to many expatriates) and offers good amenities and services. Around 15,000 Britons live on Crete, most of whom are concentrated around the areas of Apokoranos in the west and Elounda in the east.

Communications in the north of the island are excellent, with international airports at Heráklion and Chania (Haniá), and a small domestic airport at Sitia, where a new runway is currently under construction. There are six ferry ports with frequent, fast services in summer and a reduced service during the winter months. The north of the island has good communications, including a dual carriageway running along the north coast linking the main cities and resorts, and there’s a good bus service. In the south, however, there are few roads and infrequent buses (private transport is usually essential here). Note also that it takes around five hours to drive from the east side of the island to the west, and many towns in the south-east are easier to reach by boat from one of the ports.

Crete’s climate is mild in winter with almost guaranteed sunshine, although there’s often snow on the highest peaks. Summers are hot, with the highest temperatures in Greece (which is very hot!). In general, property on the island is more expensive than other parts of Greece, but there’s an abundance of cheaper, secluded rural properties available, although many require complete restoration. The south-east corner of the island currently offers particularly good value for money. Property is generally a good investment and prices are currently rising at around 8 per cent a year.

In general, apartments start at €70,000 and villas from €100,000, although you can expect to pay at least twice as much in or near resort areas. Exclusive new developments are even more expensive, e.g. from €350,000 for a two-bedroom apartment. Remote village houses start at €75,000. There are several companies on Crete specialising in property restoration packages. Experts generally agree that the best time to look for property is in the winter, when prices are generally lower.

© Survival Books Limited 2005

“Buying a Home in Greece” 3rd Edition, Joanna Styles.

Reproduced with the permission of Survival Books Limited.

Further information on buying a home in Greece can be found in “Buying a Home in Greece” 3rd edition, by Joanna Styles.

For extensive information about buying a property in Greece, you can purchase this book at www.survivalbooks.net

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