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Luxury Apart Hotel Crete

Discussion in 'Emerging Property in Europe' started by OwnerInvest, Aug 14, 2008.

  1. OwnerInvest

    OwnerInvest New Member

    Crete – Location of our latest luxury Apart-hotel investment set to launch imminently - Prices expected to start from just £78,500

    A great opportunity to invest in a leading 4 star hotel brand ideally located in a well known and well liked touristic hotspot.

    Prices are expected to start from just £78,500 with 10 - 20% return on investment expected. Investors receive generous personal use at no extra cost and the mortgage can be deferred for up to 2 years. This exciting buy to let product is set to launch imminently and, as usual, first come first served.

    About Crete
    Crete is the largest of the Greek islands and the fifth largest in the Mediterranean with a total area of 8,336 km2 equating to approx. 6.3% of the total territory of Greece. Each year it attracts about 4 million tourists out of a total 15 million who visit Greece and can be reached via two international airports located in Heraklion and Chania, or via boat and the main ports of Heraklion, Chania, Rethimno, and Agios Nikolaos.

    Tourism is one of the main sources of income and employment in Crete. According to National Tourist Organization (NTO) data, Crete has 1,523 resorts and hotels with 145,139 beds, approximately 5,300 beds belong to five-star hotels with about a 75 percent annual occupancy rate which makes it an ideal location for our latest buy to let apart-hotel and an investment opportunity with huge potential for our clients.

    Crete Economy
    Over three-quarters of Crete’s gross domestic product come from service based industries with tourism contributing approx. 13 percent. The island is host to 11,200 retail businesses with a combined turnover of approx $2.2 billion and there are 8,700 companies actively working within tourism with a combined turnover of approx. $1 billion.

    The tourism sector employs approximately 18,000 people, compared to 4,000 people in 1971. Of the 4 million tourists visiting Crete each year, 23% are Germans, 19% are English, followed by Scandinavians and French. Greeks represent approx.10 percent of all tourists who visit Crete and their visits are predominantly around August. It is also worth mentioning that the island is starting to attract strong interest from Russia and other East European countries.

    The island has a per capita income close to 100% of the Greek average, while unemployment is approximately 4% - half of that of the national average.

    Apart Hotels in Crete - Contact us about buy to let Crete deals
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