{"id":5102,"date":"2025-03-19T10:56:14","date_gmt":"2025-03-19T10:56:14","guid":{"rendered":"https:\/\/in-greece.com\/index.php\/2025\/03\/19\/holiday-home-frenzy-observed-on-crete\/"},"modified":"2025-03-19T10:56:14","modified_gmt":"2025-03-19T10:56:14","slug":"holiday-home-frenzy-observed-on-crete","status":"publish","type":"post","link":"https:\/\/in-greece.com\/index.php\/2025\/03\/19\/holiday-home-frenzy-observed-on-crete\/","title":{"rendered":"Holiday home frenzy observed on Crete"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div itemscope=\"\" itemprop=\"associatedMedia\" itemtype=\"http:\/\/schema.org\/ImageObject\">\n                                                                    <picture><source media=\"(max-width: 767px)\" srcset=\"https:\/\/www.ekathimerini.com\/wp-content\/uploads\/2021\/08\/Rethymno_Shutterstock-320x200.jpg?v=1629275296\"><img loading=\"lazy\" decoding=\"async\" width=\"960\" height=\"600\" class=\"picture-main-block-image\" data-nxsrc=\"https:\/\/www.ekathimerini.com\/wp-content\/uploads\/2021\/08\/Rethymno_Shutterstock.jpg?v=1629275296\" alt=\"Holiday home frenzy observed on Crete\" src=\"https:\/\/www.ekathimerini.com\/wp-content\/uploads\/2021\/08\/Rethymno_Shutterstock.jpg?v=1629275296\"\/><br \/>\n                        <\/source><\/picture>\n<p>The city of Rethymno, on Crete [Shutterstock].<\/p>\n<\/p><\/div>\n<div itemprop=\"articleBody\">\n<p>The large increase in foreigners\u2019 interest in purchasing holiday homes is now also fueling the construction of new homes on Crete.<\/p>\n<p>According to data from Elxis \u2013 At Home in Greece, which specializes in the sale of holiday homes to foreigners, new housing projects in Hania are being developed in Tsivaras (Apokoronas) and in Marathi (Akrotiri) with detached houses that are selling for over 4,000 euros per square meter, while luxury apartments are being built on the seafront in Kastelli that are going for \u20ac7,000\/sq.m.<\/p>\n<p>Also, in Maleme, 100 meters from the beach, new holiday homes are being sold for \u20ac5,500\/sq.m. and in Kokkino Chorio, newly built villas with an excellent view are priced at \u20ac6,100\/sq.m.<\/p>\n<p>Significant investments in the construction of new holiday homes are also being recorded in Rethymno. In the northern part of the regional unit, in Dramia, near Georgioupoli, detached houses with swimming pools are being developed with a selling price of around \u20ac4,100\/sq.m. Correspondingly, in Kirianna, holiday homes are being sold for \u20ac4,300\/sq.m., while in the city of Rethymno, apartments with a sea view are priced at \u20ac4,500\/sq.m. Further south, in Plakias, house hunters can find new constructions with a selling price of \u20ac5,000\/sq.m. and in Asomatos with \u20ac4,000\/sq.m.<\/p>\n<p>These figures confirm the significant increase in investments in the construction of new holiday homes, as demand is much higher than supply. \u201cIn the development of holiday homes on Crete, we encounter all categories of builders, from local companies to national groups and from domestic real estate development companies to investment funds. The interest is great, as supply is falling short of demand and prices have been steadily rising in recent years, at an average annual rate of 8-10%,\u201d says Giorgos Gavriilidis, CEO of Elxis \u2013 At Home in Greece. Based on the company\u2019s data, people from various countries buy ion Crete, with Germans and Americans being among the most active.<\/p>\n<p>The above is also confirmed by the course of construction activity. In the first 11 months of 2024, permits were issued for the construction of 3,503 new homes, up 17.8% compared to the whole of 2023 (2,972 homes), and up 45.8% from 2022 (2,401 homes).<\/p>\n<\/p><\/div>\n<p><script>\n        var NXFBPixelFunc = function () {\n            document.removeEventListener(\"scroll\", NXFBPixelFunc);\n            setTimeout(function () {\n                !function (f, b, e, v, n, t, s) {\n                    if (f.fbq) return;\n                    n = f.fbq = function () {\n                        n.callMethod ?\n                            n.callMethod.apply(n, arguments) : n.queue.push(arguments)\n                    };\n                    if (!f._fbq) f._fbq = n;\n                    n.push = n;\n                    n.loaded = !0;\n                    n.version = '2.0';\n                    n.queue = [];\n                    t = b.createElement(e);\n                    t.async = !0;\n                    t.src = v;\n                    s = b.getElementsByTagName(e)[0];\n                    s.parentNode.insertBefore(t, s)\n                }(window, document, 'script',\n                    'https:\/\/connect.facebook.net\/en_US\/fbevents.js');\n                fbq('init', '109138906120213');\n                fbq('track', 'PageView');\n            }, 0)\n        };\n        document.addEventListener(\"scroll\", NXFBPixelFunc);\n    <\/script><br \/>\n<br \/><br \/>\n<br \/><a href=\"https:\/\/www.ekathimerini.com\/economy\/real-estate\/1264377\/holiday-home-frenzy-observed-on-crete\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The city of Rethymno, on Crete [Shutterstock]. The large increase in foreigners\u2019 interest in purchasing holiday homes is now also fueling the construction of new homes on Crete. According to data from Elxis \u2013 At Home in Greece, which specializes in the sale of holiday homes to foreigners, new housing projects in Hania are being &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"Holiday home frenzy observed on Crete\" class=\"read-more button\" href=\"https:\/\/in-greece.com\/index.php\/2025\/03\/19\/holiday-home-frenzy-observed-on-crete\/#more-5102\" aria-label=\"Read more about Holiday home frenzy observed on Crete\">Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":5103,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"fifu_image_url":"https:\/\/www.ekathimerini.com\/wp-content\/uploads\/2021\/08\/Rethymno_Shutterstock.jpg?v=1629275296","fifu_image_alt":"","footnotes":""},"categories":[2],"tags":[],"class_list":["post-5102","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","no-featured-image-padding"],"_links":{"self":[{"href":"https:\/\/in-greece.com\/index.php\/wp-json\/wp\/v2\/posts\/5102","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/in-greece.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/in-greece.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/in-greece.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/in-greece.com\/index.php\/wp-json\/wp\/v2\/comments?post=5102"}],"version-history":[{"count":0,"href":"https:\/\/in-greece.com\/index.php\/wp-json\/wp\/v2\/posts\/5102\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/in-greece.com\/index.php\/wp-json\/wp\/v2\/media\/5103"}],"wp:attachment":[{"href":"https:\/\/in-greece.com\/index.php\/wp-json\/wp\/v2\/media?parent=5102"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/in-greece.com\/index.php\/wp-json\/wp\/v2\/categories?post=5102"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/in-greece.com\/index.php\/wp-json\/wp\/v2\/tags?post=5102"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}