Buying an island in Greece: everything you need to know

According to estimates, there are about a thousand islands for sale around the world, including 15 in Greece. Contrary to popular belief, their price isn’t necessarily proportional to their rarity. Like any property, their value depends on natural features, type, surface area, location, infrastructure, and amenities.
 

Greek islands: what you should know before buying

There are two types of islands for sale in Greece: private islands without restrictions, which can be purchased without major constraints, and private islands with restrictions. The latter are protected by regulations, laws, and environmental frameworks such as NATURA 2000 or RAMSAR, which may limit construction or development possibilities.

Islands located near borders, like those in the Aegean Sea, are subject to frontier restrictions. Non-European investors must obtain special authorization from the Greek Ministry of Defense before acquiring an island in these areas.

If you plan to buy an uninhabited island to build a property or develop a tourist complex, keep in mind that a special permit is required. This may include environmental authorizations, archaeological approvals, or an environmental impact study.

Unlike private islands that can be transferred, some public islands owned by the state cannot be purchased. However, they may be leased for specific projects, such as tourism development.

As with any real estate transaction, it is essential to work with qualified professionals and perform due diligence on the property (title deeds, litigation status, etc.) before signing any agreement.
 

For a successful purchase, think logistics

Even modern-day Robinson Crusoes need food and, occasionally, a doctor. Be sure to consider proximity to other islands, the mainland, and essential services.

Accessibility is also crucial: by boat if the environment allows it or by plane if the terrain permits it.

Lastly, is the island connected to utilities? Does it have access to water and electricity? Is there an underwater connection to the power grid or a local generator? How are waste and sewage managed? These very down-to-earth questions are of vital importance and need answers.
 

How much does it cost to buy an island in Greece?

The price of an island depends on its size, location, infrastructure, and more. In Greece, entry-level prices start around €2,000,000.

Additional costs to plan for include:

• Lawyer fees (1.5–2% of the purchase price + 24% VAT)
• Official translation of contractual documents
• Property transfer tax (3% of the sale price)
• Land registry fees (0.5–0.6% of the declared price)
• Notary fees (1–2% of the price)
• Real estate agency fees (2–3% + 24% VAT)
• Annual property tax (between €2 and €13/m²) and an additional progressive tax for properties valued over €250,000

Depending on your project, other costs may include building permits, basic development and utility connections.
 

Choose an island that suits you

Buying an island is always a life-changing decision. Whether you dream of a wild haven or a developed islet, island life means peace and harmony with nature.

Don’t rely solely on photos. The location must suit your lifestyle and be somewhere you can adapt to easily.

Consider the distance between your primary residence and the island to make the most of your holidays. Make sure the climate and seasonal rhythms are compatible with your planned visits. Most importantly, take the time to discover the local culture and people before moving or investing.

Greece isn’t the only country where you can buy an island. You’ll also find islands for sale in Brazil, Florida, Croatia, the Caribbean... Many islands and islets are also available in the French overseas archipelagos or in mainland France, particularly along the Breton coast.

Buying an island is a serious commitment that requires considering many variables, some of which are mentioned here. If you still have doubts, you could start by renting: a small island oasis might be the perfect way to test island life.