Crete is stepping into the spotlight as the Mediterranean’s newest luxury destination. Prices range from €988,000 for a one-bedroom apartment to over €4.7 million for a luxury villa, with average rates in Elounda now reaching €10,000 per sq m. Buyers investing more than €800,000 also qualify for Greece’s Golden Visa, granting EU residency—a major draw for international clients from North America and Western Europe.
Infrastructure upgrades are accelerating the island’s transformation. The Kastelli International Airport, slated to open in 2027, will handle up to 18 million passengers annually, while expanded road networks will improve access to emerging hotspots like Lasithi and Rethymno, where prices remain more accessible at €4,000–€5,000 per sq m.
From Elounda Hills’ €450 million eco-resort to soaring villa prices and a marina for 100-metre yachts, Crete is fast becoming one of the Med’s most desirable destinations – for property investors and superyacht owners alike.
With its blend of natural beauty, upscale living, and strategic investment appeal, Crete is no longer just a hidden gem—it’s becoming the crown jewel of the Mediterranean. Beyond resort town of Elounda, Sotheby’s International Realty highlights Rethymno, a former fishing village on the north coast of the island, which it says is attracting buyers thanks to its good value for money and the charm of the local area.
In terms of price points, Crete certainly looks like excellent value compared to other, more fashionable Mediterranean islands. Eleni Grigoriadou, an associate at real estate company Kentriki, says average prices around Elounda stand at around €10,000 per square metre, which means a high-end villa with five or six bedrooms would cost €4 million to €6 million.
According to Greece Sotheby’s International Realty, prime real estate sale prices on the island have increased by five per cent over the past year. “This appreciation reflects both the desirability of Crete’s luxury offerings and the scarcity of premium properties,” said a Sotheby’s spokesperson.
