A Greek Island is up For Auction for Less than the Price of a London Flat, Canada Reviews

Plenty of us dream of owning a home, but in lots of major cities across the world, crippling rent and unattainable house prices can make it feel more like a pipe dream than a future reality. 

So, why don’t you haul yourself off for a slice of the island life instead, eh? Judging by the price tag on this paradisiacal piece of Greek land in the Ionian Sea, it could certainly be a more affordable option (though, as ever, there’s a rather large catch).

Makri, the fifth-largest island in the Echinades archipelago, boasts a pretty, jagged coastline, pellucid waters, plenty of sun and remains completely untouched by overtourism. And it’s now officially up for sale.

But, despite originally being advertised with a value of €8 million when it was first listed by high-end real estate agencies back in 2022, the asking price today is a mere €247,000. 

Recommended: This white-sand beach in Greece was just named the best beach in Europe for 2026. 

Why? Well, the island – which is completely uninhabited – had been wrongfully classified as a private forest. It also lies within a Site of Community Importance and Special Protection Zone, according to Metro, which means that any five-star development proposals (which seemed to be one of the initial selling points) would be prohibited. 

What’s more, Makri falls under Natura 2000, which is the same band of ecological protection that led to sunbeds being banned on 251 beaches across Greece this summer, meaning building any kind of infrastructure would need approval by Presidential Decree. 

Oh, and there are a few finer details to be aware of – namely that any buyer will be faced with what is essentially a backlog of tax claims and debt attached to the island. This includes, according to Sofokleous10, claims from the Greek state of at least €20 million.

So, long story short, the island can be used for little more than agriculture – and would need electricity, water and waste disposal all to be installed – but if you’re a fan of, shall we say, the remote life, and have a penchant for complicated financial agreements and rigid environmental laws, it could be yours! 

🏝️ Check out ’s roundup of the best islands in Greece. 

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