Energy Saving Formula of European Retirees: Buying a House in Greece
Following the global pandemic in 2020, disruptions in supply chains caused global inflation to rise. International financial institutions such as the International Monetary Fund and the World Bank have issued warnings about rising inflation as a result of increased energy and food consumption.
Because of the rising costs of energy supplies in Europe, there is growing concern that there will be a limited supply of natural gas and fuel sources, particularly during the upcoming winter season.
A headline in Germany’s Bild newspaper drew a lot of attention among the solution-oriented suggestions on Europe’s energy crisis. According to the news, retirees in Germany should spend the upcoming winter season in southern countries with warmer climates and lower living costs, such as Greece.
While worries of a cold winter season grow fast in the event of a decrease in natural gas supply, this solution method also brings with it a fantastic investment opportunity to buy a house in Greece.
Crete stands out as the best city to retire to in the proposal published in Bild newspaper due to its wonderful environment, warm climate, and natural beauty.
Because of the difficult times they are experiencing as a result of the energy crisis and inflation, European retired residents may consider purchasing property in Greece for permanent living, as a profitable investment, or to spend the winter seasons comfortably by taking advantage of Greece’s wonderful climate.
Why is Crete the Most Ideal Place for Wintering?
With its unique natural beauty, healthy environment, ancient cities, crystal clear sea, and awarded sandy beaches, Crete offers luxury and comfort all at once.
Here are some of the reasons why Crete is the best place to live, especially in the winter:
- It has 300 sunny days on average per year
- The average temperature in Crete is 18-19 degrees annually
- Crete benefits from active tourism all year round
- For swim lovers, one can swim in the Cretan Beaches for at least 9 months of the year
- The annual water temperature in Crete is 21 degrees and the coldest it gets is 16 degrees
- Summers of Crete are long and hot, while winters are short and with a mild climate
- Natural gas and central heating energy systems are not required in Crete during the winter due to the favorable climatic conditions. Locals use air conditioners to heat their homes for an average of two months per year during the short mild winter months.
The cost of living in Crete is relatively low. Crete’s low living costs make it a top choice for Europeans whose quality of life has been impacted by the rise in energy costs caused by Russia’s energy crisis.
In Germany, for example, heating costs per capita have more than doubled due to gas and heating oil supply issues. The General Association of the German Housing Industry’s (Gesamtverbands der Deutschen Wohnungswirtschaft (GdW)) new calculations show just how bad the situation has gotten.
Increases in energy prices, according to these calculations, will cost between 1,000 and 2,700 Euros per year for a single-person household and between 1,400 and 3,800 Euros per year for a two-person household.
GdW President Axel Gedaschko stated the gravity of the situation, saying, “According to information from various energy providers and GdW research, price increases for all energy sources are likely to range from 71% to nearly 200%.” All German households will bear a massive burden. Lower-income residents will be unable to afford such additional payments.”
According to Bild.de, the potential costs might be as follows:
- 1-person household: Costs up to 344 € per month. This amount is +229 € more than the previous year. It brings additional costs of up to 2,749 € in 2022.
- 2-person household: Costs up to 476 € per month. This amount is +317 € more than the previous year. It brings additional costs of up to 3,799 € per year.
- 3-person household: Families with one child face energy costs of up to 579 € per month. This amount is +385 € more than the previous year. It brings additional costs of up to 4,624 € per year.
- 4-person household: Costs up to 635 € per month. This amount is +422 € more than the previous year. It means an additional cost of up to 5,074 € in 2022.
Sadly, these figures paint a bleak picture of the impending winter season in Europe. Germany and the rest of Europe’s governments, lawmakers, and non-governmental groups are attempting to address the rising cost of energy.
It is evident that a speedy solution could not be available any time soon. On the other hand, Crete provides access to a better quality of life in terms of cost of living and access to energy. Nearly all households get the majority of their energy, including heat, from electricity or woodfire.
As a result of Crete’s affordable cost of living, Europeans can purchase real estate in Crete with the money they save by reducing their energy expenses at home. By investing in a home in Crete, they can enter a tranquil and holiday-like existence this winter rather than battling the weight of the global economic and geopolitical issues.
Crete is the Mediterranean gem for those who want to pursue a peaceful life, make a profitable real estate investment with affordable prices, and find their dream home under the sun.
Since 2004, Ktimatoemporiki Real Estate Greece has sold a number of properties and helped many foreigners find the homes and lifestyles of their dreams. The qualified team of Ktimatoemporiki Real Estate Greece is prepared to lead you on this fascinating journey to your new home.