Who turned the light on? BUYING PROPERTY IN CRETE 
After years of economic doom and gloom plunging dreams of buying a place in the sun into darkness, the light appears to have been switched on, with a raft of positive data coming together.

Research from A Place In The Sun magazine records Greece as the 6th most popular location for buying a home in the sun. Rightmove data shows Greece as the 4th most popular destination for property buyers and Overseas Guides Company has shown enquiries for Greece rise by a whopping 23% during 2013. The country is now a prime destination for UK buyers looking to buy a home abroad - and of those, some 85% will decide to buy in Crete.


Potential buyers are now seeing Greece gradually getting back on its feet after six hard years of recession and austerity. 2013 saw record breaking revenue from tourism and 2014 is seen as being even better. Proof that Greece is beginning to move forward is already recognised by Ryanair who have made Chania International Airport in western Crete a 'hub' serving the UK and Europe.

The UK property market is finally emerging from the doldrums allowing vendors to capitalise on their assets. Prices are rising, 95% mortgages are around, the government has introduced incentive schemes and all indications are that 2014 will see the market rebound releasing a pent up demand of those trying to sell in order to make their move and buy a place in the sun.

Economic data in the UK is extremely bullish, while in Europe the economic scenario has flat lined. That means sterling is beginning to get stronger and is looking to break through the 1.20 barrier. If the UK bank rate increases in 2014 then sterling will become stronger still. That means you get far more for your pound when it comes to buying a house. A 150,000€ house at a 1.16 exchange rate would cost you around £129,000. The same house at an exchange rate of 1.20 would only cost £125,000 - a saving of £4,000!


All research shows that the days of owning a holiday are more or less long gone. Rightmove's research shows 63% of the property buying market comprises those over 55 who are seeking to make a permanent move and of those 93% use the internet to search for their ideal home.

At Snobby we have recognised this change, proved by the increased number of hits we get on our web site and the increasing popularity of our FREE monthly creteON-LINEmagazine with all the news and views if living in Crete. That's why for 2014 we are launching a brand new web site specifically ticking the boxes for those who intend to make Crete their home.

For example, we are building Snobbys with superb insulation for real living comfort and lower energy costs, including lots of storage space, and the buying flexibility of tailor making your Snobby precisely to the lifestyle you are seeking. As always all our plots are on developments of twos or threes for maximum privacy and all close to everyday amenities and a short drive to the sea.

Come back to see us in January and discover how far ahead Snobbys are for quality - specification and all-inclusive prices which are the lowest you'll find in Crete for new build detached homes!

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LIVING IN CRETE - Buying property in Crete 
It's the end of October and in Crete it's still sun, blue sky and temperatures just below 80F.

While in the UK you've just had tremendous storms, heating costs are going through the roof, winter has only just begun and things can only get worse. What with the council tax and energy costs amounting to nearly £3,000 for the average UK household - plus inflation on cost of living up around 3%, it doesn't bode well for those approaching retirement having to live on pensions and savings.

There is a better lifestyle beckoning.

Come on over and live in the sun. No freezing cold winters, no frost or snow and with inflation in Crete running at minus 1% money goes a whole lot further. Without stinting you'll spend no more than 350€ a month at the supermarket. Because the winters are so much shorter you'll spend a whole lot less on heating and with a solar water system you get boiling hot water FREE for most of the year. There's no council tax to speak of - but there is a property tax - and on a Snobby that is only around 250€ per year. All in all, including running a small car, eating out a few times every month you can live comfortably on an income of £1,000 per month.

Oh, but I'll miss the family, I hear you cry!

With broadband you can SKYPE to keep in regular touch and the children will have you marked down for cheap holidays! And also with broadband you can receive all the UK TV channels too; so there's no need to miss Corrie or East Enders.

Yes, but....!

The UK property market is beginning to move now so it shouldn't take that long to sell your house and pocket a nice little nest egg. The fear of thinking about making the move is far worse than doing it. Jump off that cliff of nerves and when you land in the sun you'll wonder why on earth did you never made the move years before.

So come on, enjoy Christmas in the UK and then make a New Year's resolution. 2014 will be the start of a new life in Crete!

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Money for nothing - 100€ for free. BUYING PROPERTY IN CRETE 
Yes, that’s right - 100€ - to spend on anything you like. There’s no strings attached. In conjunction with currencies.co.uk - the home of Foreign Currency Direct - all you have to do is arrange to meet us in Crete to see the Snobby show house.

Before your trip we’ll arrange to send you a VISA debit card in your name and then, when we meet, currencies.co.uk, subject to conditions*, will activate your card to provide a 100€ spend on anything you like. Use it in restaurants or bars, or towards your car rental. Imagine that -100€ FOR FREE!

Obviously we hope you’ll fall in love with a Snobby and want to buy one, but if you don’t then you’ve lost nothing and gained 100€! It’s a no brainer - and don’t worry - there’s no pressure.

So book your flight and e-mail snobbyhomes@yahoo.co.uk to arrange a date and time you would like to meet up. We look forward to hearing from you soon!

This a no strings giveaway of money!

We are making this offer in conjunction with currencies.co.uk - one of the largest currency exchange companies in the UK. Recognised by the FCA - which means your money is always protected, currencies.co.uk has not only been named by the Daily Telegraph, but also by The Sunday Times as the best exchange rate provider for three consecutive years.

Their exchange rates can beat bank rates by up to 4%. That’s £400 saved on every £10,000 transferred. The reason? They deal in high volumes, don’t go through intermediaries and don’t have the banking system’s overheads of multiple outlets or high staffing costs. Imagine the saving to be made when you purchase a house!

I’m buying a house in Crete and need to transfer funds. How do I go about it?

It’s simplicity itself. The financial world can be somewhat daunting which is why personal service is so important at currencies.co.uk and why from the very outset you have your own personal contact – who you deal with by name and are never transferred from pillar to post, speaking to anonymous strangers.

Currencies.co.uk is a reliable and an established provider with an excellent creditworthiness rating. The security of your money is always assured, because your payments will be lodged in separate client transaction accounts with Lloyds Bank. These accounts are designated for the receipt of client funds.

The whole process of transferring sterling, having it converted into euros at the best rate possible and onward transfer to your Greek bank account is simple and reliable.

When you’re ready, we will ask your personal broker at currencies.co.uk, to call you, have a chat and he will help you open an account - without charge - and arrange everything for you. When it comes to exchanging sterling for euros you can rest assured you’ll be getting the best rate possible and saving a mint compared to going through a bank.

*Currencies.co.uk retain the right to revoke this offer at any time without notice and cards are issued and activated, based on status.

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The better way to buy a property in Crete 
With new taxes and systems introduced in Greece, if you buy a new build from a developer there is a 23% VAT levy on the price.

But have a house built in your name and it saves you this cost! It’s a big saving. That's why Snobby is launching a new way to buy your home in the sun.

During the build process legal receipts are raised by suppliers and tradesmen in the name of the prospective owner. If this is not implemented it could leave the owner wide open to future problems from the Greek Tax Department. This is why it is important that a Registered Accountant oversees the financial criteria of the construction to ensure all paperwork is correct and in place throughout the whole build process.

Buying a Snobby is the comfortable way to buy your home in Crete and save money.Snobby puts you in control and supports you every step of the way. All-inclusive prices so you know precisely the figure to budget for – never a penny more. Fixed price legally guaranteed.


STEP ONE - Power of Attorney appoints a Registered Accountant to control payment and cost control, who will appoint a lawyer, obtain a Greek tax number and open a ‘Building Bank Account’ in your name. No withdrawals will be made without receiving authorization to do so by the owner and no withdrawals will be made unless supported by official receipts accepted by the Greek tax department.

STEP TWO - Snobby UK Limited provide a detailed build specification, supported by a legal Purchase Agreement fixing the all-inclusive price for two years. This document features a ten day cooling off period. The Purchase Agreement confirms a fixed deposit in sterling (25% of the sale price) which is paid in the UK. The 75% balance is confirmed in euros and the client has the freedom to select precisely when construction of their home commences. This provides a stress-free situation should the client be waiting to receive funds from the sale of his house in the UK.

STEP THREE - The 25% deposit is paid to Snobby Homes UK Limited in the UK. This is a fixed rate payment made in sterling and not subject to currency fluctuation. The land is then legally transferred into the client’s name.

STEP FOUR - Once the client is able to press the start button we begin to construct their home. (Typically 5-8 months).

STEP FIVE - Photographs will be taken throughout the build process and e-mailed to the client as proof of progress.

STEP SIX - Only after the construction is completed – foundation, walls, roof and rendering and windows – proved by photographs taken during the build process, is a 50% interim payment made. Your accountant will formally ask for your authority by e-mail to allow this money to be withdrawn for disbursement.

STEP SEVEN - Immediately prior to being finished ‘on the key’, the owner will ensure the final 25% balance is available in their ‘Building Bank Account’ in Crete. On completion and with your authority, the accountant will withdraw this final amount and submit a final audit showing IKA insurance, stamped building license, utility authorisations and taxes on the build, legally agreed by the Greek Tax Department.

STEP EIGHT – The accountant will prepare your first year’s tax declaration, ensuring you are not liable to any tax and on project completion the bank account is closed.

For a comfortable, stress-free way to buy your home in Crete, you can't better going with Snobby.

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Greece is doing well 
How is the Greek economy fairing? It's good news. Following unprecedented austerity measures the markets now expect the Greek economy to begin making a recovery from next year.

While the official target is for a budget balance by the end of 2013, the Greek government's aim is to achieve a primary surplus by the end of this year.

The Greek Prime Minister has even expressed the hope that Greece will be able to return to market at the end of next year, when it is anticipated the country's benchmark 10-year bond rate could fall to below 6%.

"I see recovery from 2014 onwards," he said. "The climate has already turned. At the moment the international factor sees that Greece is taking the right steps and that it remains in the euro."

The Prime Minister also reiterated a promise he has made to citizens that they would not have to endure any new austerity measures - as long as the ones already promised are implemented.

The Troika's concern of tax evasion is gradually changing. While results of the government's attempts to clamp down on tax evasion has not been entirely satisfactory, efforts are being made to reverse the situation. The task has been made all the more difficult given that Greece has a higher proportion of self-employed than other EU countries. While existing penalties for tax dodging were inadequate, large scale evasion has now led to the prosecution in recent months of 650 people for tax-related issues and assets worth €2bn have been seized, of which €400m has gone into the state's coffers.

Marches in Athens and the worry of political unrest on whether Greece would leave the euro, seems a long time ago now. The country has done much to get its economy back on track. The tourist season would appear to be breaking records this year. The sun is shining the future is optimistic.

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