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11 Feb 2026

Heraklion housing market on the move: what’s changing in Crete

Heraklion housing prices rise gradually, but with imbalances.

  • RE+D Magazine

In Heraklion, housing prices increased in every size segment during 2024–2025, maintaining a trend that started in 2020.

However, according to ReDataset, the change is not uniform, as different segments are moving at varying speeds in terms of both prices and supply.

The most pronounced price increase (+17.1%) is observed in homes of 20–50 sq.m., a segment traditionally associated with affordable housing and demand from smaller households or small-scale investors.

Where the changes are occurring
Available data from the company shows that smaller homes are experiencing faster price growth, while the increase in supply is mainly concentrated in larger properties. Specifically, homes of 111–300 sq.m. now account for 43.9% of total listings, showing the largest increase in available properties.

Regarding the year of construction, prices have risen at a similar rate (+8.6%) across all age categories, indicating a generalized price adjustment rather than a shift in demand toward properties of a specific age.

At the same time, homes built after 2000 now represent 47.6% of total supply, following a noticeable increase in newly built or relatively new properties. However, this expansion does not appear to have significantly eased prices for smaller units, where demand remains strong.

The role of energy performance
Another important factor is the energy efficiency rating of properties. Over the past eight quarters, listings of high-energy-efficiency properties have decreased by 9.6%, while properties in medium energy categories have increased, gradually changing the composition of the available stock.

Finally, it is worth noting that the overall picture does not point to a market moving uniformly in one direction. Prices, supply, construction characteristics, and energy performance are evolving at different rates, reshaping access conditions for housing in specific market segments rather than across the board.




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