Crete - Greece's overseas property hotspot

Crete has the potential of becoming Greece's property investment hotspot, experts from the Homebuyer Show are predicting.

Brits buying a holiday home benefit from sunshine almost all through the year, good beaches and a dramatic coastline with strong capital growth of 15 per cent year on year since 2000.

An alternative location to buy to the popular Costas, Crete is one of the largest of Greece's islands and offers a diverse range of properties from those close to developed tourist-orientated areas to more rural locations such as mountains villages.

Combined with property prices 30 to 40 per cent lower than the UK's, a stable economy and high standard of living Crete makes a good location for an overseas property investment.

"Situated in the middle of the Mediterranean, Europe's most southern island offers one of the best climates on the continent with 300 days of sunshine every year. The island has much to offer from quiet mountain villages, long sandy beaches, rocky bays and an abundance of flora and fauna," explained Susan Peters, sales and marketing manager of Cybarco (UK) Limited, who are exhibiting Homebuyer Show.

She added: "Crete is an island of wonderful contrasts, which offers buyers a real opportunity for property investment by way of its inexpensive prices, prospects for future capital growth and secure freehold ownership unattached from expiry dates, which means that the investment can be passed on to descendants."

One of the developments Cybarco are marketing at the show is Maleme Project, a beach-front complex of 16 apartments and eight maisonettes with access to a communal pool and gardens with prices from £98,530 (€147,000) for a two-bedroom property.