During these last few years of great recession we are often being asked about the technical and financial conditions regarding property construction in Crete and whether this is a good time to build a house in Crete. As a real estate and construction company owner, with branches in Chania and Agios Nikolaos, I will be glad to refer to some key points on the matter.
The main and most common question we are being asked is related to the land options and the prices one can get in Crete. Due to the recession and the need of more people for an immediate income, there has been a significant growth of the choice of land to buy and build in and in much cheaper prices, which in some cases in the areas of Chania and Rethymno (West Crete) as well as in Iraklio and Agios Nikolaos (East Crete) can reach a reduction of up to 30%. Therefore the purchase of Crete land nowadays is a wise approach to the Cretan property construction market.
The next question concerns the cost of obtaining the building permission and the cost of the construction. The cost of the building permission has recently gone down due to the complete liberation of the architects' profession. On the other hand, even though the cost of the construction materials has remained the same, the construction labour cost has been reduced drastically. This shrinkage in costs holds true especially for Crete since there is a great availability in working hands and the largest part of the raw materials come from the Cretan land.
At the same time changes in recent building legislation ensure the new owner that everything happens according to the construction บ้าน มือสอง law, since an architect appointed by the state comes to check all the stages of the construction to guarantee material and labour quality and provide the equivalent certificate.
Another big and important change in house construction is the use of eco materials and preparation and installation of alternative energy sources. This includes materials such as wood, ceramic bricks, stone, iron (found in abundance in the land of Crete) and sources such as under floor heating and solar panels (these last being applied widely in Crete due to the favourable weather conditions and the extended holiday season). Being the largest of the Greek islands and one of the biggest in the Mediterranean with an area of over 8.000 m2, Crete provides with the necessary space for the application of all new and eco-sustained practices.
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