If you have a few million Euros lying around this may be the ideal time to buy a Greek Island. The country has been in the midst of a financial crisis and to raise money to pay off some of their debt they are selling all or part of 900 islands. Parts of the historical islands of Mykonos and Rhodes are up for sale if you are willing to share, or you can purchase your very own 1,235 acre island, Nafsika, for under 15 million Euros.
With the political and economic turmoil going on in Greece you should not expect a stable environment for the first few years. Since the economic crisis started, property values in Greece have dropped 10 to 20 percent, and tourism is way off. However, the allure of owning your very own Greek Island and becoming a James Bond villain will have these islands swarming with Russian Oligarchs.
Now Greece is making it easier for the rich and famous to fulfill their dreams by preparing to sell, or offering long-term leases on, some of its 6,000 sunkissed islands in a desperate attempt to repay its mountainous debts.
The Guardian has learned that an area in Mykonos, one of Greece’s top tourist destinations, is one of the sites for sale. The area is one-third owned by the government, which is looking for a buyer willing to inject capital and develop a luxury tourism complex, according to a source close to the negotiations.
Potential investors also looking at property on the island of Rhodes, are mostly Russian and Chinese. Investors in both countries are looking for a little bit of the Mediterranean as holiday destinations for their increasingly affluent populations. Roman Abramovich, the billionaire owner of Chelsea football club, is among those understood to be interested, although a spokesman denied he was about to invest.
Greece has embarked on the desperate measures after being pushed into a €110bn (£90bn) bailout by the EU and the IMF last month, following a decade of overspending and after jittery investors raised borrowing costs to unbearable levels.
The sale of an island – or convincing a member of the international jet-set to take on a long-term lease – would help to boost its coffers. The Private Islands website lists 1,235-acre Nafsika, in the Ionian sea, on sale for €15m. But others are on for less than €2m – less than a townhouse in Mayfair or Chelsea. Some of the country’s numerous islands are tiny which could barely fit a single sunbed. via The Guardian
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Great! I always wanted one of those. But seriously, how much of their debt can Greece repay like this? It's seems like they're trying to say "look how desperate we are, we're doing all we can, we would even sell our own land" but in the end it will take a thorough economic reform to take the country out of its problems.
But in the meantime – hooray, islands for sale!
Greece could sell all their islands to pay the money back to the european countries who supported them during their finance crisis…
lol lame only small rocks islands you can by
Greece is making it easier for the rich and famous to fulfill their dreams by preparing to sell, or offering long-term leases on, some of its 6,000 sunkissed islands in a desperate attempt to repay its mountainous debts.Greece has embarked on the desperate measures after being pushed into a €110bn (£90bn) bailout by the EU and the IMF last month, following a decade of overspending and after jittery investors raised borrowing costs to unbearable levels.
It is true that dotted in the blue waters of the Aegean are some of the country's most valuable assets – about 6,000 islands, of which only 227 are inhabited. Many of them are privately owned by the world's super-rich.According to a specialized real-estate website, Greek islands evoke images of sunglass-sporting shipping magnates sipping champagne on enormous yachts, but cost as little as $2m (£1.3m).
We are selling Five Private Greek Islands near Aristotle Onassis’ “Skorpios”, only about 500m from the mainland.
YOUTUBE VIDEO:
http://www.youtube.com/watch?v=BUTOSBfRYJE&fe…
FURTHER INFORMATION:
Additional Information and photographs are available on http://www.privategreekislands.com http://www.property-market.co.za