Naxos island has only recently developed a real estate industry. Unlike many other islands in Greece, Naxos has large population throughout the year. It is centrally located in the Cyclades and it is the biggest of them all, offering ample space and many opportunities for real estate development. The recent economic crisis has greatly contributed by pushing many home and land owners to sell their property at lower prices than usual, making real estate investment a main source of cash flow for the island’s economy.
Despite this, we should always keep in mind that Naxos, unlike any other Greek island of the Aegean Sea, has always been self-sufficient. As a result, property prices may have dropped but not at unreasonably low levels, as most real estate listings reveal.
In summary, Naxos is a very interesting island in many aspects. Its nature differs from the typical Cycladic. The island is mountainous, rich in trees, lower vegetation and water, with many villages built at high altitude and a Mediterranean climate that is affected by its mountain range peaking at 1000m. Its excellent, widespread and easily accessible road network makes it appealing for some people to inhabit some of its remotest areas.
On Naxos, there are a few realty agencies specializing in both property sales and rentals. Each agency features a collection of vacation homes such as apartments, villas or detached one or two storey houses, plots of land as well as professional spaces like hotels, suites, rooms to rent, exclusive and luxury properties, bars and restaurants. Real estate investing is at its best as tourism on Naxos is increasing every year. With the rumors for the construction of a new, bigger airport that will accept larger airplanes, the purchase of a property or the construction of a new one seems like a great idea, especially now that a cheap price can be achieved.
Checking any online Naxos guide will instantly reveal which are the most desirable areas on the island. However, this also depends on the client since when it comes to holidays, each has his own ideas about the ideal retreat. On the map, you will immediately spot the most popular seaside resorts. These are Naxos Town (the capital, also known as Chora) and Agios Prokopios beach, Agia Anna beach and Plaka beach, all within a short distance from the capital.
Further away, you will find other beachfront resorts such as Pyrgaki, Kastraki, Mikri Vigla, Alyko and Apollonas to the north. Also popular are less touristic areas like Tripodes (Vivlos) because of its breathtaking views, and the rural villages of Chalki, Filoti and Apeiranthos. They may be far from the beaches and the fun but they offer far greater privacy and a quaint environment.
Now that you have decided to buy a property on Naxos, it is time to start your search. Apart from the local agents, there are many other real estate companies that advertise properties for rent or sale and offer online services only. Their offices are usually located outside Naxos island. They, too, show detailed photos and information on each property, they provide adequate area details, a map, distance data from touristic sites and available offers.
Which one should you choose? Does this come down to price only?
There is a lot more to a holiday property than its purchase procedure. That alone can be handled by anyone who is expert enough, whether they are based on the island or not. Any agent will deal with the real estate licence, the taxes involved, the contract and they will offer consulting services if needed.
However, the fact remains that, no matter how much you love your new home, you will most probably spend only a few weeks each year at most. What happens to it when you are not there? Who will manage it? Who will keep in clean and safe?
It is usually the local agents that can handle such issues as they also serve as property management companies. This certainly comes at an extra cost, but in the long run, it will save you a lot of money from necessary renovations that usually cost a lot more. Among the services offered are:
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