How to know when to buy a property in Chania, Crete?

Property Acquisition in Chania, Crete.

Is now a good time to buy property in Chania, Crete? Is that neighborhood in Chania Old Town or Apokoronas ideal for your new home? Is the listing on the real estate agency’s website overpriced, or is the price fair?

In this guide, you’ll find answers to these crucial questions about the Crete property market. Learn how to conduct the necessary research to determine the best time to buy property in Chania and Rethymnon, Crete, and make informed decisions with confidence.

To determine if now is the right time to buy a house in the Chania real estate market, begin by analyzing local market trends or discover the complete guide on how to buy a property in Chania, Crete. Look at current property values, which can indicate whether the market is favoring buyers or sellers. Monitor the inventory levels and demand in Chania, as high demand and low inventory often signal a competitive market.

Additionally, pay attention to how to find a property in Chania, Crete or visit our dedicated research pages. Lower rates reduce borrowing costs, making it more financially advantageous to purchase property. Evaluate the broader economic conditions in Greece, including job stability and local economic growth, which can influence your financial security and readiness to invest in real estate. Our latest Guide on Property Buying can assist you on this journey

By thoroughly understanding these factors, you can make an informed decision about whether now is the ideal time to buy a house in Chania, Crete.

How to know when to buy a property in Chania.
How to know when to buy a property in Chania.

1. Look at the broader picture of the housing market of Chania, Crete.

Take a broader look at the housing market in Chania, Crete. Real estate, like other sectors in modern society, is heavily influenced by geopolitical, environmental, social, and financial regulations. The recent coronavirus pandemic, for instance, has posed existential threats to the global economy and significantly impacted the real estate sector.

These factors can dramatically affect property values, pricing, availability, and both buyer and investor decision-making. The Chania real estate market is shaped by four key factors:

Demand: This refers to both the number of properties needed at a given price at a specific time and the willingness of buyers or investors to purchase. It reflects the availability of properties for sale and the buyers’ ability to afford them without hesitation.

Scarcity: Property scarcity involves the limited availability and supply of specific types of properties in particular locations at a certain time. For instance, a buyer may be ready and able to purchase an apartment in Chania, but if apartments are not available, the sale cannot proceed.

Value: Property value is crucial for any buyer or investor. Considerations like the condition of the property, such as whether the roof needs restoration, can affect the sale. Even if a buyer is ready and can afford the property, issues like necessary repairs must be addressed before the transaction can take place.

Transferability: This refers to the legal ability to transfer property ownership without issues or uncertainties. For example, if the seller’s name is not on the deed or there are legal issues with the deed, the buyer cannot proceed with the purchase.

Understanding these factors can help you navigate the Chania real estate market more effectively and make informed decisions.

2. Investigate the Real Estate Market of Chania

Begin by gaining a general understanding of property market trends and current prices in Chania, Crete. Stay informed about the latest real estate news and what it’s like to live in this vibrant region.

If you’re searching for properties in areas like Apokoronas, Chania, Kandanos, Kissamos, Platanias, or Sfakia, you’ll find valuable insights into local prices that can guide your buying decisions. These areas offer typical price ranges for various properties, including apartments in Chania, along with other helpful information.

For a deeper dive, explore our ARENCORES MAGAZINE. It’s the only real estate magazine in Crete that covers critical property market indicators in Chania and Rethymnon, along with the latest updates on the Greek economy.

Valuable Property Locations in Chania

A “great property location” in Chania can encompass various desirable characteristics, such as:

  • A property in Chania Old Town: The historic charm and cultural significance make this area highly attractive.
  • A property within walking distance of the city center and nearby amenities: Convenience and accessibility to shops, restaurants, and public services are significant factors.
  • A property near a popular beach or seaside resort: Proximity to the beautiful Cretan coastline enhances the appeal.
  • An apartment in Chania: Despite the current market challenges, such properties continue to appreciate more compared to other types of properties.

As of 2024, finding and purchasing an apartment in Chania, Crete, remains challenging, reflecting the high demand and limited supply. This trend indicates that properties in prime locations, such as Chania Old Town or near popular beaches, are likely to see significant appreciation. Additionally, two detached villas of similar size in the same area are likely to appreciate similarly, highlighting the influence of location over property type.

For more in-depth information, check out the ARENCORES MAGAZINE, which covers critical property market indicators in Chania and Rethymno, as well as the latest updates on the Greek economy.

3. Perform a Comparative Market Analysis.

Once you’ve identified a property that meets your requirements and budget, delve deeper to learn more about the surrounding areas.

My Place in Chania and Chania Real Estate provide access to extensive databases and offer a Big Data Analytics platform (RESTful) to facilitate your efforts in comparing properties and areas in greater detail.

Should you pinpoint a property, our research team can assist you in accessing reliable data to better understand the opportunities and risks associated with the purchase.

ARENCORES can furnish you with a comprehensive report featuring an intelligent comparative market analysis. Here’s what our report includes:

  • Property details such as size, location, number of rooms, age of construction, energy consumption, and any additional features.
  • Data on sold property listings, revealing what buyers actually paid for similar properties in Chania and Rethymnon, contrasting with the asking prices.
  • Information on long-term listings, expired listings, or those with reduced prices, providing insights into the average property selling price in a particular area.

Our reports are designed to help you discern the difference between asking prices and realistic selling prices, empowering you to make well-informed decisions.

Chania Real Estate - The local real estate market dynamics
Chania Real Estate Success - ARENCORES

4. Investigate the property Supply in Chania, Crete.

Understanding the supply of properties in a particular area is crucial for making informed decisions when it comes to real estate investment. Here’s how you can refine your understanding of the property supply in Chania:

Evaluate Active Listings:

Begin by identifying the number of active listings in Chania. This figure represents the current supply of properties available for sale in the market.

Assess Pending Transactions:

If possible, gather data on pending transactions in Chania. These are properties that have already attracted buyers but haven’t closed yet. Divide the number of active listings by the number of pending transactions to gauge the relative demand for properties in the area.

Calculate Inventory Days:

Multiply the result of the division by 120, which represents the approximate number of days in four months. This calculation provides an estimate of how many days it would take for the current inventory of properties to be sold at the current pace of transactions.

By following these steps, you can derive the “days of property inventory” metric, which offers insights into the balance between supply and demand in Chania’s real estate market. Armed with this understanding, you can tailor your property search and develop a strategic approach for making offers on properties that align with your investment goals.

Chania Real Estate Magazine - ARENCORES


Stay updated with the most recent developments and insights in the Chania real estate market with ARENCORES Magazine. Our publication offers comprehensive coverage of market news, trends, and analyses, helping you make informed decisions and stay ahead in the dynamic real estate landscape of Chania.

Empowered Together

With services, insights,data and know-how that span every dimension of the real estate and construction market of Chania, Crete, we design and deliver solutions for clients of every size, budget and preference.

Whether you’re a first-time buyer, seasoned investor, or property owner looking to design, renovate, build or sell, our team at ARENCOS is dedicated to delivering excellence in every aspect of your real estate and construction journey.

ARENCORES is the real estate division of ARENCOS, an architectural and engineering firm specializing in biophilic and sustainable design in Crete. As the real estate arm of Arencos, ARENCORES leverages the firm’s expertise in innovative and eco-friendly design principles to offer clients comprehensive real estate solutions.

Creating the real estate solutions of tomorrow

Understanding Property Purchase Costs in Greece

This guide is tailored for individuals contemplating the purchase of a residential property in Greece. While particularly beneficial for first-time buyers, even seasoned property investors can gain insights into the evolving buying process by understanding its key steps.

Greek Real Estate Taxation

The following section outlines the primary taxes and key considerations pertaining to the acquisition, ownership, and disposal of real estate assets in Greece. It focuses on residential, commercial, and investment properties, providing essential insights into taxation.

Residence Permits & Greece Golden Visa

This section addresses all potential questions regarding eligibility for the Greek Golden Visa program and details the procedure for obtaining a residency permit.


The materials presented in the Greek Real Estate Data Sources and Research (REDS) guide are distributed by ARENCORES – Chania Real Estate as an information source only. While every effort has been made to ensure the accuracy and completeness of the information, no guarantee is given nor responsibility taken for errors.

As the information is for general use and not intended to serve as advice, no warranty is given in relation to the accuracy, reliability, or appropriateness of any information. The information does not constitute professional advice and should not be relied upon as such. Users are therefore encouraged to consult with their chosen professional advisers before making any decision.

We do not accept any liability for any loss or damages arising from the information or advice provided on this website or incorporated into this website by reference, or which is incurred as a result of the use of, or reliance upon, the information and advice contained on this website.

Greek Real Estate Data Sources and Research (REDS)

Dive into Greek Real Estate Data Sources and Research (REDS), an encompassing resource delving into the intricate nuances of Greek Property Law, Property Ownership, Real Estate Rights, and the Hellenic Cadastre registration process.

This comprehensive guide not only elucidates these fundamental concepts but also addresses crucial gaps in understanding associated liabilities for buyers, sellers, and real estate investors, offering insightful paradigms and invaluable tips.

Innovation and Intelligence

In 2014, ARENCOS established ARENCORES to facilitate property buyers’ decisions and holistically research the risks and opportunities of the Chania real estate market. Working closely with property investors, buyers and sellers ARENCORES provides professional, scientific and technical services dedicated to the Chania property market.

ARENCORES’ Chania Estate Agency services are dedicated to simplifying the understanding of the relationship between real estate intelligence, achievement and innovation.

RESTful Platform

Our RESTful platform – Chania Estate Agency consultancy – operates on a fee-for-service basis. Whether you require advice on engineering and architectural matters, inquiries at the Land Registry office (Ypothikofilakeio), dedicated property pricing valuation, or a re-evaluation of your current real estate needs, we are here to assist you.

Additionally, you may simply want to incorporate ARENCORES’ Chania Estate Agency services into your property management, long-term rental strategies, marketing efforts, or sales process.

iPRO Platform

Introducing iPRO, our state-of-the-art platform featuring exclusively curated properties for sale in Chania, listed nowhere else. Each listing comes with all necessary documents meticulously organized to guarantee a seamless process, streamline decision-making, and ensure a successful property transaction.

To gain access to this innovative platform, prospective clients are required to sign an Engagement Letter along with providing a copy of their valid ID or Passport. Experience the pinnacle of real estate selection and transaction efficiency with iPRO.

Valuation & Advisory Real Estate Services in Chania

We provide uniquely informed perspectives on real estate valuations and property consulting, leveraging rich data from the Chania real estate market and delivering consistent, reliable service.



ARENCORES: Looking Beyond The Obvious

Unlock the value in every dimension of your real estate in Chania, Crete. Using Big Data Analytics and Advanced research, we provide bespoke real estate services that drive superior outcomes.

Knowledgeable, transparent and tailored real estate advice.

It’s unrealistic to expect a property developer to possess expertise in every aspect of a real estate project. At ARENCORES, we recognize this and offer specialized services to meet diverse needs.

We distinguish ourselves from traditional real estate agents by prioritizing comprehensive solutions over simplistic promises. Instead of merely focusing on high sales prices and basic marketing, we emphasize accuracy and strategy in pricing to ensure successful outcomes for buyers and sellers.

With nearly 15 years of experience in the Chania property market, we bring extensive industry knowledge to the table. Our research-driven approach considers current market conditions and pricing objectives, ensuring practical expectations and realistic budgets for our clients.

Our Property Marketing strategy, “List to Sell,” is designed to align with market dynamics and pricing goals, facilitating successful real estate transactions. Additionally, we understand that needs may vary, so we offer a range of professional services tailored to your requirements:

1. Master Agent: ARENCORES oversees all aspects of property management, marketing, and sales channels.

2. My Agent: A dedicated agent exclusively works on your property and project sales.

3. Consultancy: We offer fee-for-service pricing and marketing strategy consultancy to address specific needs and challenges.

Invest, Finance & Value

As a property development and investment firm, our experience has helped us perfect how to maximize returns of investments by spotting the marginal gains in the Chania real estate market. 

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