Private Islands for Sale in Greece
Table of contents
Foreigners can buy a Greek island outright. Two things decide whether a deal works. If you are not an EU citizen and the island lies in a border region, such as the Dodecanese, you need a permit before you sign. And whether you can build depends on forest maps, nature protection and strict rules for land outside towns.
That is why prices swing so widely. In 2026 an unbuildable island in the Ionian went to auction from €247,000 (US$287,000), while an island with eleven stone buildings off Evia was listed at €35 million (US$40.6 million).
What islands cost
| Island | Where | Size | What you get | Price |
|---|---|---|---|---|
| Makri | Echinades, Ionian Sea | About 98 ha (243 acres) | Forest, Natura 2000 site, no power or water | Auction from €247,000 (US$287,000), 13 Nov 2026 |
| St. Athanasios | Gulf of Corinth, near Itea | 1.1 ha (2.7 acres) | Pines, olives, small beach; seller says a 250 m² home is pre-approved | €2.2 million (US$2.55 million) |
| Strongylo | Arkioi, Dodecanese, near Patmos | About 22 ha (54 acres) | Stone ruins, a well, three beaches | €4.5 million (US$5.2 million), Oct 2026 |
| Argyronisos | Between north Evia and the mainland | About 24 ha (60 acres) | Main house, villa, stone cottages, chapel | €35 million (US$40.6 million), Aug 2026 |
Asking prices from Vladi Private Islands, To Vima and Country Life. Makri shows what a weak title and a protected status do to a price: it was offered at €8 million in 2023, failed at auction twice, and now carries more than €20 million of debts and claims.
Many online lists still show islands such as Spalathronisi at €10 million or Kardiotissa at €5 million. Those prices were reported in 2013 and 2019, so ask the agent whether an island is really still for sale. Very few Greek islands are on the market at any time. We have no Greek island in our catalogue yet, so these are islands elsewhere in Europe. You can also browse all islands for sale.
Islands for sale elsewhere in Europe
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Foreign buyers and the border permit
Greece has no general limit on foreign owners. You need a Greek tax number (AFM) to sign, and the deed is signed before a notary.
The exception is the border regions. Buyers from outside the EU and EFTA need permission from a regional committee before buying there. The list covers the whole Dodecanese, Lesvos, Chios, Samos, Limnos, Samothraki, Santorini and Skyros, plus some mainland areas. A sale signed without the permit is void. Approval is routine for American, British and Canadian buyers, but it can take several months, so make it a condition of the deal. Strongylo, near Patmos, is one island where this applies.
Can you build on it?
Most private islands lie outside any town plan. There, a house normally needs a plot of at least 4,000 m² (about 1 acre) and 25 metres of frontage on a recognised public road. Most small islands have no public road, so building often depends on exceptions, old permits or existing houses. On 4,000 m² the house can be only about 186 m².
Three things can stop you completely:
- Forest land. Land classed as forest cannot be built on. Check the official forest maps, not the seller’s word.
- Natura 2000. Many small islands are protected nature sites. On Makri, only farming, grazing and light structures are allowed.
- Archaeology. Ancient remains block building until the Archaeological Service agrees.
The beach belongs to the state and stays open to the public. A new planning framework, expected from 2027, will tie building rights even more closely to officially recognised roads. Before you pay a deposit, have a local engineer confirm in writing what can be built.
Golden Visa: residence, not citizenship
Owning an island gives no residence or citizenship by itself. The Golden Visa is a separate, five-year residence permit. It needs a property investment of €800,000 (US$928,000) in the most popular areas, including islands with more than 3,100 residents, or €400,000 (US$464,000) elsewhere. The home must have at least 120 m² of living space, and it cannot be let to holiday guests. A raw island with no house may not qualify, so ask a lawyer before you count on it.
Costs of buying
The buyer pays a 3.09% transfer tax on the price or the official value, whichever is higher. On top come the notary, your own lawyer, the land registry fee and, if needed, a surveyor and engineer. After that you pay the yearly property tax (ENFIA).
Seasons, water and power
Most islands are used from May to October. In July and August the strong north wind of the Aegean (the meltemi) can make small boats unsafe for days. Few private islands have mains power or water: plan for solar, a well or desalination, and a jetty. Strongylo’s seller suggests a link to the grid on a neighbouring island, which is worth checking before you rely on it.
Comparing countries? See our guide to Croatian islands.
Frequently Asked Questions
Yes, freehold. Buyers from outside the EU need a permit first if the island is in a border region, such as the Dodecanese or the eastern Aegean.
In 2026, from a €247,000 (US$287,000) auction start for an unbuildable island to €35 million (US$40.6 million) for one with houses. The cheapest island with building potential that we found was listed at €2.2 million (US$2.55 million).
Only if the land is not forest or strictly protected and the planning rules allow it. Check with a local engineer before you sign.
No. Property can lead to a Golden Visa, which is a residence permit, not citizenship.
Prices are asking prices unless marked sold, not valuations. This guide is general information, not legal or tax advice.
Sources
- https://gpg-pdf.chambers.com/Real-Estate-2026/279/
- https://elxis.com/index.php/buying-a-home-in-border-regions-in-greece
- https://elxis.com/building-restrictions-and-regulations-in-greece
- https://greekreporter.com/2026/05/04/greece-new-planning-rules-island-building-rights/
- https://www.ibanet.org/the-greek-golden-visa-after-2024-2026-overhaul
- https://www.tovima.com/finance/private-isle/
