Crete is the largest of the Greek Islands, and the fifth largest island in the Mediterranean, with a population of about 624,000 people. Crete is renowned for its beautiful sandy shores, magnificent mountains, fishing villages, very low crime rate and friendly people. Makry-Gialos is the ideal summer and winter sun resort for those who are seeking a refreshing vacation. With long summers and comfortable temperatures that average 20 degrees in November and December, the area offers a good place to be all year around.
The town of Makry-Gialos in South East Crete is an outstanding example of the beauty that ensures a thriving tourist industry for the area and a welcome unmatched in Europe. Candia Property Management Services (CPMS) is a company that will fully focus on getting the most out of your investment. We offer a variety of properties, specially selected to be suitable for spending quality time in the most picturesque of locations! The company offers a complete package of facilities and services for enjoyable holidays the whole year around.
To assist you in offering your property as a holiday rental, if you so desire, CPMS is setting up many strategic relationships with tour operators and travel agencies to get as many rental guests to the Bayview developments as possible. Whilst rented, your properties are cleaned weekly, and a laundry service is provided. In addition, the property is checked after every rental. By renting out your property you will be able to cover your communal maintenance expenses and be able to earn a return on your investment, depending on occupancy rates.
Whether you are a second home buyer, a property investor or an existing Candia Developments client, we can manage the rental of your property to help you cover the costs of your vacation home or investment if preferred. Your property will be marketed via our European agents, a dedicated website and our local information offices, and the tenants that will occupy it will be carefully selected prospective Candia Developments relations, buyers, families and others.
To accept your property for rentals, it needs to be nicely furnished and meet the minimum inventory standards of our rental properties. This includes TV, air-conditioning units, complete set of furniture, dish washer, fittings and electrical appliances. Our range of rental properties extends from one bedroom apartments to five bedroom villas. Should you require any information about Bay View and Lagada Ridge Villa Rentals please visit us at www.bayviewcrete.eu for more information and online booking possibilities.
Rental Potential
Overseas property can provide a rental yield in addition to any capital appreciation and increase the investment's overall profitability. Coastal locations, particularly those with extremely good beaches like Makry-Gialos, feature highly when looking at this investment factor. Average rental yields on Crete are generally quoted at 4-6%, but can be considerably higher on attractive holiday property in premium locations. Holiday property rental is seasonal, but during peak summer months beachside property rental yields on the Greek islands can go as high as 30%.
When considering the rental potential of investment property abroad, it is important to look at the length of the summer season, when holiday rentals are most viable. South east Crete's climate is perennially mild, and the south coast is renowned for its extended summer due to its proximity to the North African coast. As the Makry-Gialos area has one of the best climates in Europe, with over 325 days of sun, an increased interest in winter rentals is notified during winter period.
An often overlooked driver of property values is the availability or otherwise of land in a location where demand for property is likely to be boosted by other factors. Some parts of the Spainish - and recently Turkish - coastline are a prime example of what happens when no building restrictions are in place; it can ultimately lead to an over-supply of property that swamps the market, at best stagnating property prices, and at worst causing property values to drop.
Building regulations in eastern Crete have always been rigid, but in southern coastal areas such as Makry-Gialos they are strictly enforced and increasingly restrictive, ensuring not just the preservation of the natural environment, but also a continued relative scarcity of supply to demand. Nearly 35% of the Makry-Gialos area is under the European NATURA program, where extremely rigid building regulations are in force for any form of development. This control becomes increasingly restrictive each year, and will ensure the future safeguarding of the local landscape.
An EOT license, issued by the Greek National Tourism Organisation, is required when short-term letting property on Crete. The Bay View development has acquired the EOT acceptance, and CPMS is one of the few companies that hold the necessary authorisation from the Greek Tourism Organisation (EOT) to operate as a tourist office.
