Benefiting from a Mediterranean climate, the island enjoys hot, dry summers and mild winters, attracting tourists from all over Europe to its shores. And its not just the climate that makes the island such a tourist honeypot, as Susan Peters, Sales and Marketing Manager from Cybarco UK, explains: "Crete strikes an equal balance between resort hotels and quiet coves, hidden beaches and invigorating mountain villages and plateaus that reward the discerning world traveller," she says.

Addressing the reasons Brits list for wanting to escape the UK, Emmanuel G Peponis adds that "the crime rate is very low in Crete, with Greece having one of the lowest crime rates in the EU, and one can travel around safely. "Parents can also relax while their children play, teenagers can enjoy the night life without the culture of binge drinking and the more mature can benefit form the general respect given to the older generation."

In terms of investment opportunities, holiday rental demand is also high with secure rental returns likely. "With the relevant EOT (the Greek Tourist Board) licence your holiday home can earn you an income and properties can also be rented out on a long-term basis without an EOT licence," says Peponis. The choice of properties on the island is varied, with renovation and refurbishment projects, pre-renovated villas and houses and, proving popular in more recent years, off-plan properties all available. "Off-plan properties are proving very popular for people wanting a modern, easily-maintained holidayhome, perhaps with a shared pool," notes Peponis. He continues: "For permanent living or retirement, a plot is an ideal option. You can then build the home of your dreams, according to your budget, cash flow and timeframe."

And a permanent move may not be such as bad idea, as Cretan Developments state on their website: "The cost of living in Crete is significantly lower than the UK. If a couple own their home and run a car, then they can expect to live comfortably on about 12,000 euros a year." Property prices on the island also remain below many other European countries popular with British and Irish property buyers. "Crete offers a real opportunity for property investment by way of its inexpensive prices, secure freehold ownership and prospects for future capital growth." says Peters.

And with the property purchase process relatively straightforward for foreign nationals there is little to stand in the way of the overseas property buyer, although Peponis has a few words of advice that are always applicable in the overseas market: "Make sure to use a licensed estate agent and preferably one with several years' experience in the local market, as well as an English speaking lawyer." Well said sir.

Read the latest World Property Bulletin FREE

Search and browse property in Crete

Request a FREE copy of World of Property magazine

Article published November 2007