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Heraklion's Housing Crisis: Rental Prices Hit Records Amid Shortage

Monday, 29 June 2026/Source: CretaOne/1 min read

Heraklion, Crete's largest city and capital, is experiencing a significant housing shortage that is pushing rental prices to record highs. According to the president of the Eastern Crete Real Estate Brokers Association, available residential properties in the city have dropped sharply while demand from students, families, and workers continues to grow. The squeeze is partly linked to the expansion of short-term holiday rentals, which reduces long-term housing stock. For visitors, this means accommodation in central Heraklion tends to book out quickly, especially during the summer season from June through September. Booking hotels, apartments, or short-term rentals well in advance is strongly recommended. Travelers who arrive without a reservation may find limited options at higher prices. Considering accommodation in nearby towns such as Archanes or Hersonissos can offer more availability and often lower rates while remaining within easy reach of Heraklion.

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