2024 was a record year for private construction in Crete. But 2025 started… differently!
📊 Jan–Apr 2024 ➜ 2025 (Private Construction – Crete):
Permits and total surface area decreased, but the total volume of buildings increased significantly. Fewer projects – but much larger ones.
This means:
📉 Fewer building projects
🏗️ But larger apartment blocks, villas, and tourism-related developments.
Crete is shifting to ‘fewer permits, higher investment per project’.
📍 2024 ➜ 135k m², 553k m³
📍 2025 ➜ 123k m², 627k m³
What’s Causing This Shift
📈 Rising construction costs
📜 New Building Regulation (NOK) → more bureaucracy
💸 Limited access to financing
🧱 Shift from small residences to large-scale developments
Crete is building fewer – but ‘heavier’ – properties. If demand stays high, prices are bound to rise.
Here’re two diagrams which compare Crete vs other regions in Greece:
Sources:
https://www.statistics.gr/el/statistics/-/publication/DKT63/-
https://www.statistics.gr/el/statistics/-/publication/SOP03/-