Noted Private Isle Up for Auction Amid Legal, Environmental Hurdles

For less than the price of a modest London apartment, prospective buyers this year can acquire an entire private isle off western Greece — albeit one with no electricity, no running water, strict environmental protections and more than 20 million euros in legal and financial entanglements.

Makri, an uninhabited private island in the Ionian Sea, is scheduled to go on the “selling block” in November, with a starting bid of just 247,000 euros after years of failed sales attempts and stalled luxury development plans. International media reports have highlighted the case as a striking example of the mounting regulatory and financial obstacles surrounding private island ownership in Greece.

The 243-acre island belongs to the Echinades island group, lying roughly four kilometers off western mainland Greece and about 30 kilometers east of the large island of Kefalonia (Cephalonia). Largely untouched by visitors, it features rocky hills, lush flora and more than seven kilometers of coastline, with only the ruins of a small chapel, a house and a water cistern remaining on the island.