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Moreover, if you are currently looking to buy a property in Chania or Rethymnon, Crete read our dedicated Buyers Guide or discover the Latest Properties of our listings.
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+ |
TYPE | COST |
---|---|
Notary Fees (all notary expenses included) | 1 - 1,5% (plus VAT) of property value |
Transfer Tax | 3% of property value |
Municipal Tax | 3% of the Transfer Tax |
Land Registry Fee | 0,5% |
Cadastre Fee | 0,65% (plus VAT) of property value |
Legal & Technical Due Diligence | Expenses vary according to the complexity of the research and the value of the property |
Technical Due Diligence | Varies in respect to the property aspects |
The property market of Chania, Crete has unwaveringly held onto its place as a leading destination for residential and commercial investments, even in the face of critical economic and political turbulences stemming back a decade.
In the past ten years alone, the real estate market has weathered the storm of the 2008 financial crisis in Greece. However, the most recent data from the Bank of Greece and the National Statistics shows that since 2008, the average Chania house price has risen from 67,000 to £90,000. Fortunately, for those looking to invest in Chania property market in coming months there’s no denying that the sector still presents a plethora of opportunities.
Looking to buy a property in Chania? Browse our off-market properties and discover great opportunities in the Chania real estate market, learn what to avoid and what you need to know before buying a property in Chania, Crete.
Many people dream about living in Chania, Crete. This period of time there is a plethora of people searching for houses for sale in Chania. The region is beautiful, the weather is nice, and the scenery is iconic, to say the least. However, the property values in Chania are also known as being some of the highest in the country.
Security | Index |
Crime rate | 3.30 |
The risk of being robbed | 2.25 |
The risk of car theft | 3.67 |
The risk of break-in and property damage | 2.83 |
Food | Price, € |
Water, 1.5 l | 0.8 |
Milk, 1 l | 1.1 |
White bread, 500 g | 0.9 |
Eggs, a dozen | 2.7 |
Chicken fillet, 1 kg | 4.5 |
Transport | Price, € |
Public transport, 1 ride | 0.9 |
Taxi, 1 km | 1.3 |
Petrol, 1 l | 0.9 |
Ship Ticket to Piraeus | 38.00 |
The data is provided by a third party source and based on the answers of its users.
ARENCORES does not guarantee its reliability.
Not only is there not enough housing to go around but many property buyers and investors are trying to cram into urban areas. The area of Chalepa, Platanias, Kounoupidiana and some other surrounding suburbs, are the fastest-growing areas in Chania.
Moreover, Airbnb has effectively created a new category of rental housing in Chania. This new category — called ‘short-term rentals’.
It is obvious, that short-term rentals may also impact the number of houses for sale in Chania by offering a more lucrative alternative or a more flexible living arrangement to listing a unit on the long-term rental market.
With an average price of €68 per night across Chania, it would not be a hustle for some landlords to evict a tenant for the financial benefits of entering the sharing economy, right?
A recent paper from ARENCORES research team indicated that, in 2018, almost half of Airbnb listings were mainly clustered in seven neighbourhoods, where rents increased a third more quickly than the city of Chania average. A wider study suggested a 10% increase in Airbnb listings led to a 0.7% increase in rents and a 0.9% increase in house prices.