Property in Crete: The island where time no longer stands still

Buy in Crete before it hits the big time, says Liz Rowlinson of the Daily Telegraph.
Liz Rowlinson wrote recently in the Daily Telegraph about the opportunity in Crete today, below you will extracts from Liz’s recent article
Thirty years ago, the north-east coast of the Greek island of Crete was discovered by British visitors when it was showcased in Who Pays the Ferryman?, a BBC drama series. Now, if The Island, Victoria Hislop's bestselling novel is dramatised - as it surely will be - the region around Elounda will become fashionable again. Or so those in tourism or property hope.

"If the book is made into a film, the effect would be similar to that on Kefalonia after Captain Corelli's Mandolin," says Theodoros Frangos, of the Blue Palace Hotel, which overlooks Spingalonga, the former leper colony of the novel's title. Crete attracts around 35 per cent of visitors to Greece.
Inland from 1,000km of coastline, there are ancient sites, gorges and villages which are little changed in centuries. Only one place - Malia - has a reputation for the excesses of cheap package-tourism.
"People have always bought in Crete because they love the lifestyle and the people from Crete are in a world of their own which is totally self sufficient from mainland Greece and their hospitality is second to none.
"Many buyers still want the traditional village house, although the past few years have seen much new development," she says. "The low cost of living is attracting would-be Spanish purchasers and Easyjet's take-over of GB Airways' Gatwick-Heraklion route gives people the impression that Crete is more accessible."
The long, sandy beaches and lusher north-west of Crete has attracted most of the tourism, and newbuild complexes have mushroomed west of Heraklion, the island's capital and main airport, around the towns of Chania and Apokoronos
Leptos Estates suggests that west is best for investment and predicts 20 per cent per annum increases for its new resort-style projects, such as Aphrodite, in Malerne Beach, where four-bedroom villas are selling for €434,000 (£344,276).
But in the drier east, the topography of mountains dropping into the sea has restricted mass development and the area around Elounda and the regional centre of Aghios Nikolaos is associated with small, upmarket projects.
A new airport mooted at Sitia could open up the far east of the island.

For some people, Crete will be prized for its traditional way of life and they will endure the hassle that can come with the title deeds of an older property to restore something historic.
A village "wreck" (straw on the floor; bats included) costs €35,000 (£27,764). You can drive for miles from village to village without seeing another car.
Whatever you budget Crete has something to offer everyone.

IDYLLIC PRINES: New Development for sale in Rethymno, Crete, Greece

Just a fifteen minute drive inland, from the cosmopolitan centre of Rethymnon, brings you to Prines Villas, our development of four detached houses. Prines, a small picturesque village, retains strong influences from the Venetian period with its narrow streets, and typical stone houses with beautiful facades. The village, with all its amenities, is just a five minute walk from the development. The area features several of the nicest sandy beaches of West Crete only about 3km distant. The airport of Chania is 60km away and that of Heraklion around 80km.

The two-storey houses are being built to the highest specifications, using the best of local materials, incorporating some traditional features and natural stone. They blend with the surroundings, becoming one with the community of which they are part. The surrounding area is very green and is excellent for cycling and hiking. The development is constructed on a 1200m² plot surrounded by olive trees. The four houses are each two-storey, with terraces and balconies plus a car parking space. The plot sizes range between 222.23 m² and 326.58m²; the living spaces having between 116.81m² and 117.35m² with large basements. The spacious ground floor area is open plan with a breakfast bar providing a divide between the kitchen and living/dining areas. There is a cloakroom, with wc and wash basin, next to the staircase leading to the first floor and the three bedrooms. The master bedroom has an en-suite shower, wash basin and wc. The family bathroom has twin wash basins and a bath.