Greek Islands Spark Investment Frenzy; 13 Seek New Owners


The allure of owning a private island has ignited a frenzy among investors, with 13 Greek islands currently seeking new proprietors. Dubbed the "thorns" of luxury real estate, these secluded paradises have emerged as prime targets for developers amidst a surge in demand for premium hotel ventures.

In recent years, the appetite for developable land suitable for crafting opulent retreats has skyrocketed, propelling the Greek islands into the spotlight of international real estate agencies. Notably, Private Islands Inc., a renowned player in the global market, features advertisements for 13 Greek islands, including coveted locations like Vouvalos in Amvrakikos and Sofia Island in the Ionian Sea.

While some islands are prominently listed on official platforms, others remain discreetly available for private sale, adding to the mystique of these exclusive retreats. Among the notable listings is Skyropoula, a hidden gem shrouded in secrecy.

Despite the burgeoning interest, navigating the intricacies of island ownership proves to be a formidable challenge. Lefteris Potamianos, president of the Athens-Attica Association of Urban Contract Brokers, underscores the complexities involved, citing the need for 32 permits and approval from four ministries to finalise a sale. Yet, despite the bureaucratic hurdles, the allure of island ownership persists.

One success story emerges in the sale of Agia Triada, a picturesque island near Eretria, which recently changed hands under the auspices of Farhad Vladi Private Islands. Once owned by the Papanikolaou family, this idyllic enclave symbolises the potential for lucrative island transactions.

Amidst the array of listings, islands like Agios Athanasios and Strongylo beckon prospective buyers with their unique charm and accessible locations. However, challenges abound, as evidenced by the protracted sale of Patroclus, embroiled in legal disputes and archaeological considerations.

Nevertheless, the allure of island ownership persists, with each listing representing an opportunity for visionary investors to carve their own slice of paradise.

(Source: To Vima)

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