Explore the latest developments concerning This private island.
This private island paradise has a bargain price tag, and problems galore
Makri Island is a slice of paradise with plenty of problems. (Supplied)
Its online sales listing describes it as "one of Europe's most remarkable and unusual real estate opportunities", and at first glance, there's a lot to like.
Makri Island, not far from mainland Greece, boasts almost 100 hectares of uninhabited Mediterranean beauty and a bargain price tag.
There are no tourists, no port, no housing — in fact, no modern infrastructure of any kind. What this place does have, however, is a colourful history punctuated by legal battles and planning disputes.
The island is going under the hammer later this year, with a starting price of €247,000 ($400,000). That's less than half the cost of the average home in Australia, which rose to $940,048 in April.
This private island in Greece could be yours for €247,000
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Greek Island of Makri Hits the Market for £213,000 With a Catch
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A picturesque Ionian island previously valued at nearly £7 million is slated for auction at a fraction of the cost. The implications for global real estate speculators are staggering.
A stunning private island in the Ionian Sea, previously appraised at an astronomical £6.9 million, is set to be auctioned in November with a starting bid of just £213,000. To put the price in perspective, purchasing an entire Mediterranean island now costs less than acquiring a modest one-bedroom flat in the outer boroughs of London.
For more detailed information, explore updates concerning This private island.
