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Hotel in the heart of the old town
Rethymno, Crete , Greece
REF: 782362
€1,100,000
Description
A great opportunity to acquire a seafront 2-star hotel, on the beach road, in the historical old city of Rethymno, ideally located for both summer and winter operation. Renovated in 2016 the hotel comprises ten rooms of varying categories with private bathrooms and a total of 15 beds. The rooms are located on the first and second floors. The overall floor area of the building is 280m2. Most of the rooms have views across the old town of Rethymno, and a few provide panoramic sea views. The communal areas and the rooms, ranging from single to quadruple occupancy, have all facilities for immediate occupation. Directly next to the hotel is a small shop that is also available for sale by the same owner. This can be purchased for an additional cost and extended into the hotel to create a restaurant and/or a reception area, providing further income for the hotel. The hotel has entrances to the property on both the main old town cobbled shopping street and the beachside with its wonderful array of cafeterias, restaurants, and bars. The beach closes to traffic in the summer season to allow locals and residents alike to stroll along and enjoy the atmosphere that can only be found in Rethymno. The city itself is dominated by the Venetian Fortress said to be the world's finest example as so much of it is still in excellent condition. Visitors flock to the fortress every year to experience the beautiful panoramic views across the town, the beaches and the peninsula that marks the coastline of the west of the island.
A great opportunity to acquire a seafront 2-star hotel, on the beach road, in the historical old city of Rethymno, ideally located for both summer and winter operation. Renovated in 2016 the hotel comprises ten rooms of varying categories with private bathrooms and a total of 15 beds. The rooms are located on the first and second floors. The overall floor area of the building is 280m2. Most of the rooms have views across the old town of Rethymno, and a few provide panoramic sea views. The communal areas and the rooms, ranging from single to quadruple occupancy, have all facilities for immediate occupation. Directly next to the hotel is a small shop that is also available for sale by the same owner. This can be purchased for an additional cost and extended into the hotel to create a restaurant and/or a reception area, providing further income for the hotel. The hotel has entrances to the property on both the main old town cobbled shopping street and the beachside with its wonderful array of cafeterias, restaurants, and bars. The beach closes to traffic in the summer season to allow locals and residents alike to stroll along and enjoy the atmosphere that can only be found in Rethymno. The city itself is dominated by the Venetian Fortress said to be the world's finest example as so much of it is still in excellent condition. Visitors flock to the fortress every year to experience the beautiful panoramic views across the town, the beaches and the peninsula that marks the coastline of the west of the island.
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Currency Exchange
Rethymno, Crete , Greece
Interested in this property? Don't lose out to currency fluctuations changing the price you pay...
Many overseas buyers in Greece do not realise they can lose thousands of pounds through adverse currency exchange rate movements.
The property buying process in Greece takes time; it could be up to six months between seeing the property of your dreams and actually taking ownership. So how much would this €1,100,000 property cost you?
| Property Price € | Minimum cost in the last six months | Maximum cost in the last six months | Fluctuating exchange rates over the last six months could have increased the cost of this property by |
|---|---|---|---|
| €1,100,000 | £935,759 | £964,194 | £28,435 |
| Property Price € | €1,100,000 |
| Minimum cost in the last six months | £935,759 |
| Maximum cost in the last six months | £964,194 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £28,435 |
Rethymno, Crete , Greece
Interested in this property? Don't lose out to currency fluctuations changing the price you pay...
Many overseas buyers in Greece do not realise they can lose thousands of pounds through adverse currency exchange rate movements.
The property buying process in Greece takes time; it could be up to six months between seeing the property of your dreams and actually taking ownership. So how much would this €1,100,000 property cost you?
| Property Price € | Minimum cost in the last six months | Maximum cost in the last six months | Fluctuating exchange rates over the last six months could have increased the cost of this property by |
|---|---|---|---|
| €1,100,000 | £935,759 | £964,194 | £28,435 |
| Property Price € | €1,100,000 |
| Minimum cost in the last six months | £935,759 |
| Maximum cost in the last six months | £964,194 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £28,435 |
The exchange rate on the day you make an offer on your property in Greece will not be the same as the rate you pay when you complete on your purchase, as currency markets move constantly. Any large rate movements may take it beyond your price range as the chart above illustrates the fluctuation and how much extra your property could have cost you.
The best way to avoid this significant risk is to plan your budget and currency strategy with an experienced currency specialist. They have been known to save you up to 4% compared to many high street banks, £4,000 for every £100,000, which soon adds up. They will also keep you up to date on market movements, help you set a rate in advance with a product called a Forward Contract - so you know exactly what you will pay for your property in sterling.
This is why we recommend Smart Currency Exchange Ltd. If exchange rate movements continue to be as unpredictable and as significant as they have been in the past then by not using Smart Currency Exchange Ltd your property could cost you £28,435 more.
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