Due to the massive, all-inclusive tourism trend of the major hotel unites, the majority of individual, quality clients have changed their holiday choices towards individual rental villas. The reason is they are offering the luxury of a first-class hotel and the tranquility and individuality of a private house.
This new trend is being creating unique investment opportunities for investors, and especially for people, who would like to combine their holiday home with a profitable investment.
This aspect is even more attractive for non-Europeans buyers, Chinese, Russian or even Arab origin, because of the opportunity a recent Greek law gives them, which is to invest in a residence in Greece above the amount of 250.000 euros in total, (in one or more properties), and apply for a residence permit in Greece for all the members of the family, for as long as they have these properties in their ownership.
Crete of all Greek islands offers the longest touristic period, due to the 310 sunny days a year and offers a quality holiday to its visitors, or permanent inhabitants, combining unique Mediterranean climate all year around, low crime rate, rich history and flora and most of all friendly people, famous for their hospitality.
The Cretan nutrition, is among the healthiest and most tasteful all over the world and local organic products like Olive oil, Wine and Tsikoudia give an unforgettable tasty to the visitors of permanent inhabitants of the island.
The size of the island covering an area 8,336 km2 offers plenty of sea view properties, ideal for development of Holiday Villas and is currently receiving 4.000.000 tourists every year, a number that is steadily increasing.
One of the most decisive factors that can persuade an investor to buy property in Crete is the good opportunities that the crisis has created in investing in Property in Greece. As the average cost for buying a ready built Villa on Crete of buying the land and building your own house on Crete, varies from 2000 to 3500 euros per sq.m.in total , while in Mediterranean countries like Italy or Spain are equivalently over 4000 -6000 euros per sq.m.
Building your own rental villa on Crete, gives you the opportunity to have a 100% reduction on the VAT of the building cost.
The total procedure of buying the land , applying for the building permit and build the villa , should be around a year.
The average rental per night during the high season, varies from 100 to 300 euros depending on the location, the size and the number of people which makes it a very good investment opportunity.