Drenched in history and perched on the northwest coast of Crete, Chania is a city of yesteryears with a vibrant present. The city's historical significance is evident with the Old Town and Venetian Harbour, dripping with the charm of the Venetians and Ottomans who once ruled here. Several ancient sights including the Maritime Museum of Crete and the Archaeological Museum, add to its historical allure. Geographically, Chania boasts of not just beaches, but also the Lefka Ori (White Mountains) adding a unique character to its location.
The Property Market in Chania
The exclusive property market in Chania is showing strong, driven by the area's desirability amongst affluent buyers and investors alike. The demand for high-end residential properties remains stable, keeping pace with the supply of luxury homes and apartments. Despite global uncertainties, the local political and economic situation in Chania remains stable.
Costs and taxes associated with buying luxury properties
Buyers should factor in additional costs such as transfer tax, realtor commissions, notary fees, and possible construction inspection or legal costs. The average real estate commission for both buyers and sellers in Chania varies, however, standard rates are often between 2-5%.
The transfer tax on private property in Chania is typically at 3.09%. Wealth tax on private home ownership is based on the accumulative value of all assets in Greece. Taxes on the profit from selling a private property used as a main residence or a vacation home are subject to exemptions and conditions.
The corporate tax on profits for registered companies stands at 24%, while the income tax for registered residents of Chania varies according to income band.
Financing and Mortgages in Chania
Mortgage requirements in Chania typically depend on the ratio between personal and foreign capital and income qualifications. As such, the amount of mortgage one can secure on the purchase price will depend on these factors and the specific bank's regulations.
Desirable Residential Areas and Accessibility
Some of the most prestigious and sought-after residential areas in Chania are Halepa, Akrotiri, and the Old Harbour area. These areas are known for their opulent homes, panoramic views and ease of accessibility. Chania connects well with other parts of the island and mainland Greece, both by road and domestic flights, served by Chania International Airport. The nearest big city is Heraklion, approximately 145 kilometers away.
Education and Healthcare In and Around Chania
Chania is an educational hub, home to the Mediterranean Agronomic Institute of Chania and a campus site of Technical University of Crete. Healthcare facilities are robust with hospitals and clinics such as General Hospital of Chania and Agios Georgios Hospital.
Living the Luxury Lifestyle in Chania
Chania is in the province of Crete, housing approximately 108,642 residents. This Mediterranean gem is blessed with rich naturaleza, reminiscent of Venetian elegance juxtaposed against the island’s wild natural beauty. Its Mediterranean climate allows Chania's populace to indulge in a plethora of sports and outdoor activities like sailing and hiking.
For the discerning shopper, Chania offers a variety of high-end boutiques and specialty stores. The city is also home to luxury lodgings like the Domus Renier Boutique Hotel and high-quality restaurants like the Tamam and The Well of the Turk.
Chania is renowned for cultural events, theaters, museums, and nightlife. Historically significant events like the Battle of Crete commemorations, contemporary art venues like the Olivepress in Dromonero, and sophisticated entertainment hot spots like Mylos Club illuminate the city's rich culture.
In terms of public infrastructure, Chania is well-equipped with modern amenities while maintaining the enchanting aura of its historical past.
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