IERAPETRA 722 00, GREECE
Multifamily New Development for Sale in Ierapetra 722 00, Greece USD 776,370
PROPERTY DETAILS
DESCRIPTION
A large residential complex of 668 sq.m., consisting of 3 floors with a basement and a pilotis (open ground-level parking area) of 152 sq.m., located in Ierapetra, close to the sea and the city center.
The basement is 146 sq.m. and includes a boiler room, library, gym, and operates with an automatic electric door.
The 1st floor is 160 sq.m. and contains 2 unfinished apartments.
The 2nd floor is a fully completed apartment and includes 3 bedrooms, a living–dining room, 2 bathrooms, a kitchen, a kitchen storage room (pantry), a walk-in closet room, and large balconies. It is equipped with air conditioning units, a fireplace, independent oil heating, and a solar water heater. The window frames are aluminum.
The 3rd floor (penthouse level) consists of one unfinished apartment of 50 sq.m. with a terrace.
There is an elevator installation in place (shaft and infrastructure) on all floors, but the elevator mechanism has not yet been installed.
BUILDING DETAILS
FEATURES
AMENITIES
NEIGHBORHOOD · GREECE · IERAPETRA · LASITHI · REGION OF CRETE
A large residential complex of 668 sq.m., consisting of 3 floors with a basement and a pilotis (open ground-level parking area) of 152 sq.m., located in Ierapetra, close to the sea and the city center. The basement is 146 sq.m. and includes a boiler room, library, gym, and operates with an automatic electric door. The 1st floor is 160 sq.m. and contains 2 unfinished apartments. The 2nd floor is a fully completed apartment and includes 3 bedrooms, a living–dining room, 2 bathrooms, a kitchen, a kitchen storage room (pantry), a walk-in closet room, and large balconies. It is equipped with air conditioning units, a fireplace, independent oil heating, and a solar water heater. The window frames are aluminum. The 3rd floor (penthouse level) consists of one unfinished apartment of 50 sq.m. with a terrace. There is an elevator installation in place (shaft and infrastructure) on all floors, but the elevator mechanism has not yet been installed.
LOCATION
DOCUMENTS
INVESTMENT SNAPSHOT
PRICE / M²
$3,435
Verdict: partial
Test this investment Greece financing profile ✎ Edit
The seller has not shared rental figures. For a home like this one, long-term rents around here work out to roughly USD 3,960 / month (about USD 17.5 / m²; based on Greece (country average — no local data for Ierapetra Municipal Unit)) — enter your own expected rent to see the numbers.
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Estimates only — not financial advice. Prefilled with typical greece financing profile figures — adjust to your own scenario.
Price context
This listing: $3,435/m² — 17% below the median of $4,163/m² across our 10 listings in this area.
Reading a price below the area level: a lower per-m² price can be genuine value — larger units price lower per m², and motivated sellers exist — but check the usual reasons first: renovation needs, noise exposure (roads, rail, flight paths), unfavourable floor or orientation, leasehold/servitudes, and pending building-fund obligations in condominiums. Points in its favour here: public transport (bus station), schools (High School, junior high school & primary school), daily amenities (Close to supermarkets and flea markets).
Positioning within our own current listings in the same area — asking prices per m², not an appraisal or market valuation. Size mix, condition, and plot differ between properties.
Investment factors
- ✓Public transport bus station
Walkable rail or bus access consistently supports resale value and rentability. - •Water proximity Ναυμαχία Ιεράπετρας — 763 m · 10 min walk
Lake, river, or sea frontage and water views command lasting price premiums in most markets. - ✓Schools High School, junior high school & primary school
Nearby schools widen the tenant and buyer pool to families and stabilise long-term demand. - ✓Daily amenities Close to supermarkets and flea markets
Groceries within walking distance is a top liveability filter for both tenants and buyers. - ✓Parks & recreation Κεντρική πλατεία Ιεράπετρας — 259 m · 3 min walk
Green space nearby improves quality of life and supports value in dense areas.
Based on OpenStreetMap data. ✓ strong • present ◦ no data.
