Facts and fiction on Cretan Villa Rates Post-Covid 19 – Crete, June 2020

Facts and fiction on Cretan Villa Rates Post-Covid 19

For some reason, fake news regarding a prospective drop in villa prices in Greece, and especially Crete, has been circulating. Supposedly, booking prices are to drop dramatically due to lack of demand, and thus the special offers are expected to be many- a message that truly bewilders us as to how it might have been construed.

Perhaps it’s an attempt by travel agencies to garner interest by promising shockingly low prices, or even pressure by the mass media via such articles, so that the small business owners that own most of the villas in Crete, as opposed to big conglomerates, will lower their prices.

This kind of crazed firesale in villa prices does not exist, however. Prices are stables, and villa owners made special package offers at times when they have vacancies or during low season.

Crete remains a top tourist destination in high demand thanks to the fact that it boasts two airports and a rich tradition in tourism since the 1960s (with a long litany of international celebrities having visited the island). Crete also features unique attractions, such as its stellar Mediterranean cuisine, superb mild temperatures and weather well into November, several gorgeous blue-flag beaches aside the great variety of activities and archaeological places to visit that are readily available to guests. Sites such as the palace of Knossos, the Archaeological and Nautical museums as well as the several medieval castles are extremely popular attractions.

The island’s great popularity aside, there are more reasons why prices won’t be falling regarding booking villas. A big element is the high maintenance cost of a villa (gardeners, swimming pool maintenance, cleaning, disinfection/sanitization, internet services, etc) while another is the high taxation imposed on such businesses and their properties. Such costs that are irrevocably tied to the keeping and maintenance of a villa are called inflexible expenses by economists and as such, cannot be affected by something like COVID 19, which in turn will not allow for pricing fluctuations.

As such, owners often prefer not to let out their villas at all rather than rent them at prices much lower than usual.

Our suggestion to you is to make a thorough estimation of what your budget must be. List your needs and wishes regarding your dream villa and contact us!

We will not only help you book the perfect villa for you, but also help you design your vacations based on accurate information and support!

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