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Unique seafront hotel development land, couth coast of Crete
Sitia, Greece
REF: 704601
€737,000
Description
Unique and rare seafront building plot of 21,983 m2, nicely positioned at the western edge of the village of Kalo Nero, between Makrygialos and Goudouras, at the south-eastern coast of Crete. With a shoreline of about 70 meters, the land enjoys unobstructed views of the sea in front and the mountains behind. It is possible to get a tourist development license for this plot in which case a hotel or holiday apartment complex of up to 4397 m2 can be built. Alternatively, it is allowed to build individual houses / villas of up to a total of 760 m2, built on either one or two floors, plus basement and attic. Plenty of area would be left to make swimming pool(s), terraces, pergolas, parking space, garden, tennis court etc. The land has road access and electricity, water and phone lines with internet are present. There is a small beach right in front of the land and two more small beaches in the nearby village. The nearest organized beach is a 15-minute walk / 2-minute drive away. The tourist resorts of Analipsi and Makrygialos that offer shops for all basic needs and other amenities are about a 5-minute drive away. Less than a 2-hour drive to international airport of Heraklion and about 45 minutes to the smaller airport of Sitia.
Unique and rare seafront building plot of 21,983 m2, nicely positioned at the western edge of the village of Kalo Nero, between Makrygialos and Goudouras, at the south-eastern coast of Crete. With a shoreline of about 70 meters, the land enjoys unobstructed views of the sea in front and the mountains behind. It is possible to get a tourist development license for this plot in which case a hotel or holiday apartment complex of up to 4397 m2 can be built. Alternatively, it is allowed to build individual houses / villas of up to a total of 760 m2, built on either one or two floors, plus basement and attic. Plenty of area would be left to make swimming pool(s), terraces, pergolas, parking space, garden, tennis court etc. The land has road access and electricity, water and phone lines with internet are present. There is a small beach right in front of the land and two more small beaches in the nearby village. The nearest organized beach is a 15-minute walk / 2-minute drive away. The tourist resorts of Analipsi and Makrygialos that offer shops for all basic needs and other amenities are about a 5-minute drive away. Less than a 2-hour drive to international airport of Heraklion and about 45 minutes to the smaller airport of Sitia.
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Currency Exchange
Sitia, Greece
Interested in this property? Don't lose out to currency fluctuations changing the price you pay...
Many overseas buyers in Greece do not realise they can lose thousands of pounds through adverse currency exchange rate movements.
The property buying process in Greece takes time; it could be up to six months between seeing the property of your dreams and actually taking ownership. So how much would this €737,000 property cost you?
| Property Price € | Minimum cost in the last six months | Maximum cost in the last six months | Fluctuating exchange rates over the last six months could have increased the cost of this property by |
|---|---|---|---|
| €737,000 | £610,464 | £633,415 | £22,950 |
| Property Price € | €737,000 |
| Minimum cost in the last six months | £610,464 |
| Maximum cost in the last six months | £633,415 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £22,950 |
Sitia, Greece
Interested in this property? Don't lose out to currency fluctuations changing the price you pay...
Many overseas buyers in Greece do not realise they can lose thousands of pounds through adverse currency exchange rate movements.
The property buying process in Greece takes time; it could be up to six months between seeing the property of your dreams and actually taking ownership. So how much would this €737,000 property cost you?
| Property Price € | Minimum cost in the last six months | Maximum cost in the last six months | Fluctuating exchange rates over the last six months could have increased the cost of this property by |
|---|---|---|---|
| €737,000 | £610,464 | £633,415 | £22,950 |
| Property Price € | €737,000 |
| Minimum cost in the last six months | £610,464 |
| Maximum cost in the last six months | £633,415 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £22,950 |
The exchange rate on the day you make an offer on your property in Greece will not be the same as the rate you pay when you complete on your purchase, as currency markets move constantly. Any large rate movements may take it beyond your price range as the chart above illustrates the fluctuation and how much extra your property could have cost you.
The best way to avoid this significant risk is to plan your budget and currency strategy with an experienced currency specialist. They have been known to save you up to 4% compared to many high street banks, £4,000 for every £100,000, which soon adds up. They will also keep you up to date on market movements, help you set a rate in advance with a product called a Forward Contract - so you know exactly what you will pay for your property in sterling.
This is why we recommend Smart Currency Exchange Ltd. If exchange rate movements continue to be as unpredictable and as significant as they have been in the past then by not using Smart Currency Exchange Ltd your property could cost you £22,950 more.
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