Loutro, Crete [Photo Credits to markopoulos on Flickr]
With its (almost) year round warm climate Crete is beginning to become a centre of interest for people form Northern Europe wanting to invest in residential property in the Mediterranean for their own use. Expatriate Britons make up about 80% of this market but Dutch, Germans and Scandinavians are also settling there. Crete offers an attractive lifestyle and a lower cost of living than the UK and, possibly more significantly, other Mediterranean locations such as Cyprus and Spain.
It is reckoned that a couple could live comfortably for about £10,000 a year. This is in addition to very attractive property prices for suitable accommodation. The island also enjoys low levels of pollution and a very low crime rate. The downside is that Crete is a long way from the UK and airline services are only beginning to make travelling there regularly endurable; living in Crete for a significant part of the year still needs commitment.