An enchanting island in Greece, valued at nearly £7 million, is now up for sale at a significantly reduced price. Makri Island, previously priced at €8 million (£6.9m), is now listed for just £213,000, making it a bargain compared to the cost of a one-bedroom flat in London. This picturesque island offers almost 7km of coastline and lush wooded hills, situated in the serene Ionian Sea.
Despite its allure, the island’s low valuation is attributed to various limitations. Reports indicate that development on Makri Island is challenging due to the lack of essential infrastructure to support long-term living. The island lacks a water supply network, developed harbor, and significant amenities. Current Greek regulations also restrict large-scale tourism projects, such as the construction of major hotels, in an effort to preserve the island’s natural beauty.
Makri Island falls within Natura 2000, the EU’s protected habitat network, and is classified as a protected forest area. This designation prohibits extensive development, allowing only minimal infrastructure and agricultural activities. Prospective buyers might face difficulties in establishing services or facilities on the island, given the stringent conservation laws in place.
Situated in the Echinades archipelago, Makri Island has a history of intermittent human settlement. The island’s unique characteristics and conservation status make it a challenging yet exclusive property for potential buyers.
In a similar vein, Mullagrach Island in the Scottish Highlands is set to be auctioned next month, offering buyers a rare opportunity to acquire a stunning retreat. Spanning approximately 88.7 acres and positioned at the mouth of Loch Broom, Mullagrach Island presents a picturesque coastal escape. With a guide price of £350,000, this island is described as an ideal setting where landscape, wildlife, and sustainable living converge.
Savills, the auctioneers handling the sale of Mullagrach Island, anticipate high interest from buyers seeking a distinctive and secluded property. The island’s rugged landscape, diverse wildlife, and captivating coastal features, including rocky beaches and cliffs, add to its allure. Mullagrach Island promises a unique and enriching living experience for those looking for an extraordinary coastal retreat.
