Today one can find Greek private islands for the price of… a luxury apartment on the Athenian Riviera even cheaper!
The hopes of the 150 island owners across Greece, which are estimated to be for sale, or are willing to be sold, have been boosted when demand for usable land to host new super luxury hotel units has soared in recent years. However, with the exception of the 250 million euro investment in the largest island of the Petalian complex from Grivalia and the project of the Russian tycoon Dmitry Rybolovlev to Scorpio intended to build a resort for members of the international jet set, we have (yet?) no other successful sales cases.
Islands cheaper than a house
This is because it is not an “easy” and “problem-free” investment, as real estate market professionals say. “Even if the market offers private islands whose prices are cheaper than those required to acquire a single-family house or a luxury apartment in Vouliagmeni or Kavouri” they state meaningfully.
It should be noted that the prices of the houses in front of the beach front for houses from scratch or renovated from pedestals range between 11 and 15 thousand euros per sq.m. depending on the view and amenities of the property. There are of course higher prices, such as those requested for the luxury homes in Vouliagmeni which reach 20,000 euros per sq.m.
For example, an apartment of 220 sq.m. in Vouliagmeni (year of construction 2023) with unobstructed sea view is currently for sale for 3,700,000 euros.
Saint Athanasios
One of the cheap private islands is Agios Athanasios next to Itea in the Gulf of Corinth, listed for sale for €2,200,000. The same island in 2012 was sold for 1,600,000 euros, but all these years there was no buyer.
It is the smallest island on the Greek market – only 11,000 square meters – and can even be reached by boat from the nearby coastal town of Itea, as it is only one kilometer from the coast. Olive trees and pine trees cover the interior of Agios Athanasios, while a small sandy beach marks the northwest coast.
Fidonisi or Xeronisi
Both Greek brokers and foreigners have published an ad for the sale of a private island in Nea Iraklitsa in the municipality of Eleftheri Kavala.
It is about Fidonisi or Xeronissi with an area of approximately 143,000 sq.m. In the Greek ads, its price is 3,500,000 euros, while it is sold by foreign real estate companies for 3,000,000 euros.
This private island is located just one kilometer from the coast, 8.5 kilometers from the port of Kavala and approximately 175 kilometers from Thessaloniki airport.
Agios Panteleimon
Just a few meters from Oinousses is the private island of Agios Panteleimon, which is for sale for 4,000,000 euros. It has a total area of approximately 40 acres with the possibility of development up to 200 square meters.
Today on the island there are 3 small chapels, each with its own unique history. An electric generator serves the churches, and there is also a well for drinking water.
Private island in Preveza
With an area of 17,530 sq.m. private island in the Ionian for sale for 3,750,000 euros.
It belongs to the prefecture of Preveza and is very close to the mainland at only 1 mile.
According to the ad, there is a building permit valid for the construction of two self-contained independent houses with an area of 140 sq.m. each one of a swimming pool.
Rabbit or Macropoula
Next to the island of Makri, which is also for sale, is the island of Kouneli or Makropoula.
It is an uninhabited island of 93 acres in the Echinades complex in the Ionian Sea, which belongs administratively to the municipality of Ithaca and which is being sold for 4,000,000 euros.
In fact, 9 years ago the news went around the world that the Brajelina couple (at that time they were still married) wanted to buy the specific island very close to Oxya or Oxia island.
However, neither the Brajelina couple became Ionian residents, nor did the plans of the former emir of Qatar, Hamad bin Khalifa al-Thani, who bought the island of Oxia in 2013 for 5.6 million euros in order to invest in tourism development, prospered.
Source: ot.gr
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