Greek islands are the ultimate status symbol, evoking images of sunglass sporting shipping magnates sipping champagne on the deck of enormous yachts.
In reality, Greek islands are considered to be relatively affordable amongst the rich and famous, costing as little as two million dollars – less than a ski chalet in Aspen or some sweet digs in New York City’s Upper East side.
The hot dry summers in Greece are perfect for lazing around your island, sipping Ouzo and skinny-dipping in the Mediterranean. Some private islands in Greece are available on a freehold basis.
If you are going to require tourist amenities whilst visiting your private island, best to visit in summer as winter can be quieter in Greece with most of the tourist infrastructure going into hibernation.
Purchasing an island in Greece is relatively straightforward. Regardless of nationality, anybody can be a property owner.
The only exceptions occur when purchasing an island near a national border or military land. Non European citizens will not be granted permission to buy near national borders.
In order for anyone to purchase property in Greece a tax number or AFM – as it is known in Greece – must be obtained. AFM’s are easily acquired and can be issued at any tax office with a valid passport.
Further the funds for all property purchased in Greece must be accounted for with a “pink slip” that shows where the funds originated. If the origin cannot be accounted for or there is no pink slip the government will assume the money as income and tax it accordingly.
Foreign buyers should appoint a local lawyer with a sound knowledge of land and real estate law. Besides, the paperwork involved in the purchase of a private island may be in Greek, so it’s necessary to have the expertise of someone who can translate and decipher the red tape.
If you’re in the market to buy your own personal private island playground in Greece, here is a list of some that are available for sale right now.
The private island of Rinia is located west of Skyros in the Aegean Sea, 3 nautical miles from its port.
The island of Skyros is easily accessible via Athens’ Eleftherios Venizelos International Airport via domestic and international flights, as well as seaplane and helicopter. Flights are available year-round. Seaside access is 1.5 hours off the coast of Euboea by boat.
The island of Rinia is flat and covered mainly with cedars of moderate height. The main parts of its territory are rocky clay layers. Its waters are blue, crystal clear and of unique quality and aesthetics.
A bill was passed and signed on August 8, 2014 (LAW 4280/2014 Government Gazette A’159) on construction restrictions applicable to ‘private forest land’ and rural areas to grant development of tourism projects.
Therefore, according to the realtor, the island is subsidised for the development of constructions on its entire surface, on a scale of 0.05 building factor as follows:
Construction capacity: 550,000 m2 (136 acres) X 0.05 = 27,500 m2 (6.8 acres)
Type of construction: small hotel unit – bungalows – villas
As well as the above, a further total of 27,500 m2 (6.8 acres) can be developed as underground facilities to support all of the above construction units.
Total construction capacity: 55000m2 (13.6 acres)
In addition, the compensation for the construction of outdoor activities and amenities is 10% of the total area of the island.
The beautiful island of St. Athanasios lies in the Gulf of Corinth, 1.5 miles from the city of Itea and a short distance from Delphi, the skiing resort of Parnassos and the historic port of Galaxidi.
The vegetation on this small, private island of 10,811 m2 (2.6 acres) includes some pine and olive trees and there is a small sandy beach along the northwestern coast.
The surroundings are natural and quiet and the seawater lapping the shores is crystal-clear and rich in sea life.
The island has an unencumbered, full and unrestricted freehold title, as well as indispensable supporting documents from various public authorities.
Currently listed for 2,200,000€, offering calm and unique natural living conditions that could be combined with a modern and comfortable residence.
The prefect hideaway located close to Athens, this idyllic Greek island boasts a colourful past.
It has been owned by the family of the former Keeper of the Royal Privy Purse of the three Kings of Greece since 1958. It has a certain celebrity appeal, as Winston Churchill and the Beatles are among those to have been entertained as guests on this beautiful Greek hideaway.
Trinity Island is ideally located in the southern gulf of Euboea (Evia) and can be reached easily within 1.5 hours from Athens by car and in just 10 minutes from Athens by helicopter, yet the hideaway offers total privacy.
Approximately 12 acres in size, Trinity Island is mostly flat, with a lavish abundance both ornamental and crop vegetation, including about 350 olive trees, pistachio trees, pine and cypress forests and a variety of fruit trees (pomegranate, apricot, peach, almond, fig).
Among the ornamental shrubs to be found on this Greek island are oleander and hibiscus. Price is available from the realtor upon request.
Named Nissos Makri, this private island is one of the southern Echinades, called the Ouniades or Oxeiae, in the Ionian Islands group. It is located on the far southeast side of the Gulf of Makri.
In 1920, the British described Makri as having the finest natural harbour in Asia Minor and was also noted by the British for its forests.
Today, Nissos Makri is a private island, with a total surface of 993,900 sqm and a stunning seashore, whose perimeter has been measured at 7,280 m.
According to the realtor, Makri island has perhaps the most mature planning status among the other private Greek islands and has been granted special planning/building regulations. Under full development, a 5*+ suites hotel and luxurious private villas could be built.
The necessary planning studies for the permission for the construction of a marina, of a fishing shelter and a helicopter port have been completed.
Skorpios island, owned by Aristotle Onassis in the past, is located close to Nissos Makri (24 n.m. to the North) and was recently bought by the Russian oligarch Dmitry Rybolovlev.
Located in the north-western Cyclades in the Aegean Sea, Kato Antikeri is a 272 acre island that is perfectly suited for investment or personal use.
Only minutes from the established amenities and attractions of Amorgos Island – hospital, ferry lines, and the cliffside monastery of Panagia Hozoviotissa – according to the realtor, the partially developed Kato Antikeri is in an ideal location for further development and already has building permits in place for up to 15,000 sq. ft.
Unlike many neighbouring islands, Kato Antikeri offers flat terrain suitable for development.
Currently the island has two harbours, two older houses – one on the beach and one on higher ground – as well as a quaint church. The island also offers two wells, electricity, a solar energy system and telephone lines and provides a fantastic opportunity for development.
The idyllic island of Kato Antikeri is surrounded by the crystal clear green-blue waters that the region is famous for and even offers a number of charming caves.
Remember to get your own independent real estate and legal advice if considering to buy any property.