Ever dreamed of owning your very own private island? In an age where many are seeking refuge, the uninhabited Greek island of Makri is set to hit the auction block for around $267,000—a steal compared to the average U.S. home price. But before you start picturing yourself as the next Richard Branson, keep in mind that if something seems too good to be true, it often is.
Makri, part of the Echinades archipelago in the Ionian Sea, has gone from a luxury investment to bargain pricing in a few short years. Originally marketed as a prime spot for international investors with a price tag of $8.6 million, the island is now heading to auction at a starting price similar to a modest apartment in Athens.
The reason behind this dramatic price drop? Makri is located within Greece’s protected environmental zones, classified as forest land and falling under the EU’s Natura 2000 network. This means that any plans to develop a luxury resort, beach club, or villa are pretty much off the table.
Makri spans nearly 243 acres with seven kilometers of coastline, rugged terrain, and dense forests. The island currently features three abandoned structures: a small house, a water cistern, and a chapel. Due to environmental regulations, only minimal infrastructure and limited agricultural activity are permitted. Any major construction or upgrades would require extensive approvals and assessments, deterring investors in previous auction attempts.
According to Greek newspaper Thema, Makri’s history is tangled, with mortgages, tax disputes, and legal claims dating back decades. The island will go up for auction on November 13, 2026, but whether any bids will be made remains to be seen.
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Peace Nero is a writer and blogger who loves to explore different topics of self-development. She shares her personal experiences in order to help people discover their true purpose in life.