Real estate: investment interest in private islands in Greece

The hopes of the 150 owners of islands across Greece estimated to be for sale or ready to be sold have been met as demand for land suitable for the construction of new super-luxury hotels has soared in recent years.

It is no coincidence that on the official website of the international brokerage company Private Islands Inc. currently available 13 advertisements for sale of Greek islandsamong them Bouvalos in Amvrakikos, Agios Ioannis, Agios Thomas and Tragonisi in the Saronic Sea, the island of Sofia in the Ionian Sea, the island of Spalatronisi in Sithonia, a group of islands in the area of ​​​​Kifnos, etc., and advertisements for the sale of islands also available on the spitogatos website. In addition there is also personal islands for sale… privately, that is, without posted advertisements. One of these, according to information, is Skiropula.

Even if we add the hundreds of islands or islets that are in the government's real estate portfolio (some will again talk about selling off our national wealth), the list private paradises, which will be exploited, will acquire epic proportions. Grivali's $250 million investment has already been made in the largest island of the Petalia complex, and a project by a Russian tycoon is also underway Dmitry Rybolovlev on the island. Skorpioswhich aims to build a resort for the international elite.

But that's all. Because it is not at all an “easy” and “trouble-free” investment, as real estate professionals say. “It is very difficult to buy and sell a private island“says Lefteris Potamianos, President of the Athens-Attica Civil Contract Brokers Association, noting that at a minimum, 32 licenses and approval from 4 ministries are required.

However, both Mr Potamianos and Mr Mike Vasiliou, managing director of Ktimatiki International, who are active in this niche market, emphasize that investment interest in the islands is extremely high. Here are just some of the objects:

1. Ag. Triad (Αγία Τριάδα). Sold.
An island called Agia Triada, located near Eretria, is listed as sold on the website of Farhad Vladi's real estate company Vladi Private Islands, which has sold more than 2,000 islands around the world since 1971.

Agia Triada has been listed in the catalog of international real estate agencies for about 5 years. The property has belonged to the Papanicolaou family since 1958. Rumor has it that Sophocles Papanikolaou, general curator of three kings (George II, Paul and Constantine), bought it for a meager price from a family of shepherds who needed money for a dowry (to marry off their daughter). The information received from market experts also states that two transactions for the sale of several islands have recently closed, although, as noted, the official transfer to the mortgage office has not yet occurred.

2. Agios Athanasios (Αγιος Αθανάσιος).
One of the cheap private islands of Agios Athanasios, near Itea in the Gulf of Corinth, is for sale for 2,200,000 euros. The same island was sold in 2012 for 1,600,000 euros, but all these years there was no buyer for it.

It is the smallest island on the Greek market – just 11,000 square meters – and can even be reached by boat from the nearby coastal town of Itea, as it is just one kilometer from the coast. Olive trees and pine trees cover part of the island. There is a small sandy beach on the northwest coast.

3. Strogilos (Στρογγυλό ή Στρογγύλη).
An uninhabited rocky island located west of Patmos (Dodecanese). It is located between the islets of Agrelussa and Marathos, east of Arkios and north of Lipsi. It is included, together with Arkias, in the Arkias complex, which has been designated by the European ecological network NATURA 2000 as a special protection area for birds: Mavropetritis, Aegean gull and Mediterranean herring gull.

The island in question, whose owners went to the court of Areo Pagos with demands made against the Greek state, is also being sold at a low price, for only 2,500,000 euros. At least this is what is said on the website of the brokerage company Vladi Private Islands. Based on an announcement from the brokerage company Private Islands Inc. Chris Crolow, whose official international website lists 604 islands around the world, has an asking price of €4,500,000.

It is worth noting that in 2015 it was sold to actor Johnny Depp for 4.2 million euros. Either the famous actor got pretty tired of him and decided to get rid of the property, or he never bought it…

4. Duligio (Δουλίχιο).
The island is located in the Ionian Sea, at the entrance to the Gulf of Corinth. It is part of the Εχινάδων Νήσων islands. According to brokerage company Private Islands, this is the largest private island for sale in Greece.

The highest point of the island is 250 m above sea level. It has 4,000 olive trees and low growth (bushes). “This is an opportunity for those who want to transform it into a luxury tourist resort,” as stated in the sale announcement.

This island was sold by the same brokerage in 2016 for 40 million euros, and today the price is revealed only to those interested in purchasing it.

5. Fidonisi or Xeronisi (Φιδονήσι ή Ξερονήσι).
Both Greek and foreign brokers have published an advertisement for the sale of a private island in Nea Iraklitsa in the municipality of Eleftheri Kavala.

This is Fidonissi or Xeronissi, with an area of ​​about 143,000 sq.m. In Greek advertisements its price is 3,500,000 euros, while foreign real estate companies sell it 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.

6. Patroclus or Gaiduronisi (Πάτροκλος ή Γαϊδουρονήσι).
The private island of Patroklos, owned by the Giatrakou family, overlooking the piers of Sounio and just 850 meters from the coast of Lavreotiki, has been on the market for more than three decades, and real estate professionals still claim that it could become an important option for investment in tourism.

However, based on ministerial decisions and due to the archaeological nature, any operations on the 2,600 acres were prohibited. Therefore, its owners went to court and demand compensation. From time to time, many people showed interest in the island. From Israeli business circles led by David Appel and behind-the-scenes hero Gilad Sharon, son of then-Prime Minister Ariel Sharon, to Arab foundations and Greek shipowners.

Special mention should be made of Lebanese tycoon Antoine Maalouf, who offered €120 million in 2008. His plan called for the construction of 6-star hotels, a theme park, a convention center, a golf course, an undersea tunnel and more with an investment of over $2.5 billion. Although this proposal also failed, reliable sources say Maalouf remains interested in investing in Patroklos.

At the moment, an advertisement for the sale of the island is posted on the Private Islands website, but the price is not indicated. However, judging by information from the market, the owners are asking potential buyers about 60,000,000 euros. It is worth noting that 12 years ago the price of the island was 150,000,000 euros.

7. Agios Panteleimon (7 Αγιος Παντελεήμων).
Just a few meters from Oinousses is the private island of Agios Panteleimon, which is on sale for 4,000,000 euros. It has a total area of ​​about 40 acres with the possibility of building up to 200 square meters. Today there are 3 small chapels on the island, each with its own unique history. The church is served by an electric generator and also has a well for drinking water.

8. Private island in Preveza (Ιδιωτικό νησί στην Πρέβεζα).
The island has an area of ​​17,530 sq.m., is located in the Ionian Sea and is for sale for 3,750,000 euros. It belongs to the prefecture of Preveza and is very close to the mainland, only 1 mile. According to the advert, there is current planning permission for two self-contained houses measuring 140 sqm. each with a swimming pool.

9. Rabbit or Macropula (Κουνέλι ή Μακροπούλα).
Next to the island of Makri, which is also for sale, is the island of Kuneli or Makropula. It is an uninhabited island of 37 hectares in the Echinades complex in the Ionian Sea, which is administratively owned by the municipality of Ithaca and is on sale for 4,000,000 euros.

In fact, 9 years ago the news spread that the Bragelina couple (at that time they were still married) wanted to buy a specific island located very close to the island of Oxia. However, neither the couple became residents of Ionia, nor the plans of the former emir of Qatar, Hamad bin Khalifa al-Thani, who bought the island of Oxia for 5.6 million euros in 2013 with the aim of investing in tourism development, were not successful.

Source link