A stunning Greek island valued at nearly £7 million has been listed for a fraction of its worth—just £213,000—but strict conservation laws prohibit any significant development.
The uninhabited island of Makri, located in the Ionian Sea, boasts nearly 7 km of coastline and wooded hills. It was once valued at €8 million (£6.9 million) but is now available for less than the price of a one-bedroom flat in London.
According to reports, the island is set to go under the hammer in November. However, the low price comes with a catch: it is almost impossible to carry out any kind of development due to its classification as a protected forest within the EU's Natura 2000 network.
There is no water supply network or developed harbour, and only a small dilapidated house, a cistern, and a chapel have been identified. Greek regulations prohibit large-scale tourism developments, such as hotels, and only minimal, light infrastructure and agricultural use are permitted.
The island has had intermittent human settlement throughout its history. Prospective buyers would face significant challenges in making it habitable due to the lack of services and facilities.
