course some insane price increases that were observed in some places like Plaka and Kokkino Chorio Apokorona in the region (the land prices have increased more than 2000% in the last 15 years) can not continue. Everyone agrees that some of the most fashionable of Apokorona and the ancient city of Chania has probably peaked and that prices will stabilize.
Many people confused by the large concentrations of foreign-owned properties and high prices are beginning to look further. This is west of Chania throughout the northwest coast of Crete. My guess is that are real estate prices will still continue an ascent significant in these regions in the next few years.
course this depends in part on other economic factors. The current boom in real estate for foreigners is maintained by the British buyers who usually overpriced housing in their own country, can now own their homes in England and therefore also means England selling and buying a property much more beautiful here and put money aside or they can easily get a loan based on the value of their property Columbia. If the British housing market was undergoing one of its periodic collapses, it undoubtedly would calm the housing market in Crete for a long time.
But one thing is sure: Crete is still very early in its development as a place for second homes or retirement of foreigners and unless a radical and unpredictable external factor does occurs this trend will continue in more important in coming years . Therefore this means that prices will continue to increase. It will not be seen staggering increases in Apokorona recent years but will be sufficient for the estate is a good investment you relate a little more than if you had your money in a savings account rates High Interest.
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