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Heraklion Rents Surge 10% as Holiday Lettings Squeeze Long-Term Housing

Thursday, 9 July 2026/Source: CretaOne/1 min read

Rental prices in Heraklion, Crete's largest city, rose by approximately 10% over the past year, reaching an average of 10 euros per square metre as of early 2026. The increase is driven by strong student demand from the University of Crete and a shrinking supply of available long-term rentals, as more property owners shift to short-term holiday letting platforms. For tourists, this trend means accommodation options in Heraklion city centre are increasingly competitive, particularly during the academic year from October to June when student renters fill much of the available stock. Visitors planning extended stays or looking for apartment-style rentals in the city should book well in advance and expect prices to reflect the tighter market. Surrounding areas and coastal towns outside Heraklion generally offer more availability.

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