Crete's property market in 2012
I have just had a very informative email from Harvey, the estate agent who showed me around Crete, and he has some very interesting things to say.

He points out that, although we receive reports in the UK saying that Greece is bankrupt, the fact is the average house seller is not. House prices have gone down but not as dramatically as many purchasers have expected – and as I see it, this means two things. Prices are indeed lower, but have not plummeted – and if you are going to be investing YOUR money in property, would you want them to?

As Harvey says, hopefully the general elections in February may well kick start the spring selling season. He goes on to say that one of the banking institutions have predicted price drops of around 20-25% over this winter - we shall have to wait and see on that one but he would not be surprised to see this happen. This again may help to kick start the property market next spring – obviously, the housing market has to align itself with what the consumer is able to pay.

Ryannair has announced flights to Crete (Chania) and Monarch Airlines has put on extra seats for next season too, which can only help the profile of Crete. Harvey adds: “We live on a gorgeous island, with low crime rates, good weather, a relaxed lifestyle and an abundance of fresh food. I am writing this in winter with the front and back doors of the office open and in glorious sunshine, so there is plenty to be positive about.” He goes on to say: “We know people want to come to Crete, we just have to give them the right product at the right price - simple!” And I for one agree with him.

I think it is worth bearing in mind that things really do shut down in Greece in winter. Self-evident I know but, if you have the inclination, winter or perhaps early spring isn’t a bad time to go and have a look if you are thinking of buying. The usual frenetic crowds that summer brings aren’t in evidence and you will have a far more leisurely viewing experience. Phone the OGC Resource team at 0207 898 0549 if you would like us to put you in touch with Harvey to plan a viewing trip – he showed me some truly lovely properties when I was with him last year…

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