Large and smaller plots of land, both in tourist destinations on islands or the mainland, and even near urban centers, make up the “canvas” of the offered pieces of land, representing a distinct segment of the real estate market.
In essence, it’s a “golden land stock exchange,” as we are not talking about villas or residential complexes, but areas with potential for development, which for this reason are valued at… many millions of euros.
This is yet another facet of the Greek real estate market which, in recent years, having definitively left behind the “stone years” of the economic crisis, is moving at a strongly upward pace, achieving “leaps” in growth and… prices.
It is a fact that, as with houses, there is a huge variety of choices in the case of large plots and lands, depending on what one is looking for and, of course, how much they can pay.
At the same time, the differences in price per acre in certain, primarily tourist-popular areas, compared to other less “hot” areas, are indicative of the upward trend observed.
In any case, large undeveloped investment properties are targeted at specific target groups of business groups, funds, or individual wealthy individuals who aim to exploit them either immediately or over time.
Leading the race
Based on available data from various real estate agencies and corresponding online platforms, a rare large plot of 500 acres in Charakas, a coastal area near Sounio, has been leading the price race until recently at least. It is described as a 500,000 sq.m. agricultural plot near Sounio, next to the sea, priced at… 80 million euros.
Sounio – Charakas: An agricultural plot of 500 acres by the sea is for sale for 80 million euros.
On the other hand, in terms of size, the leader seems to be a huge plot of 3,200 acres on Milos, which is for sale for 20 million euros (price 6.25 euros per sq.m.).
The 3,200,000 sq.m. seaside property, marketed by the real estate agency CCRE Group, is located in an out-of-plan area covering… an entire region, is sloping with unlimited sea views, and is offered for tourist exploitation. It is mentioned to have “3-4 amazing sandy beaches.”
Milos: A plot of 3,200 acres is for sale for 20 million euros
The price is 47 million euros for a 156-acre plot in Paros, in the area of Golden Beach. The property, marketed by Interattica Real Estate & Constructions, is located on the hill overlooking the beach with a panoramic view of the Cyclades. Here, the price per square meter is 301 euros.
It is noted that “the land is free from forest restrictions and is close to organized beaches, as well as the picturesque port of Piso Livadi,” while “it is bordered by two provincial roads, from which the plots are accessed.” Additionally, the properties are traversed by an old public path from before 1923, giving the possibility of further subdivision and increasing the building coefficients. The plot is offered for the construction of underground houses.
Paros – Golden Beach: The price is 47 million euros for a 156-acre contiguous plot
In the footsteps of Odysseus
Even more impressive is the 1,000-acre plot on Ithaca, showcased by the historical real estate agency Ploumis Sotiropoulos (Christie’s International Real Estate). It is a unique property that includes, as mentioned, eight private beaches, an atmospheric villa, and cottages with a total area of 849 sq.m.
“It is not only the large size that makes the property stand out, but its beauty that spreads across the entire area, which includes eight beaches with crystal clear blue, green, and turquoise waters, as well as many hills and areas covered with mature trees and native plants,” it is emphasized. The plot can become a private paradise or develop into a boutique hotel or a residential complex. As for its price, it reaches 21 million euros.
To understand the differences between the regions of the country, it is indicative that from the same real estate agency a privileged plot in P. Psychiko near the College, with an area of 3,079 sq.m., is offered for 16 million euros.
Sotheby’s International Realty also offers its proposal for Ithaca. It is a 270-acre plot, described as a tranquil retreat, with the most obvious name “Odyssey.” Although the price is revealed only “upon request,” it is mentioned that “the potential of this land in such a prime location is endless, whether commercial or residential,” as a house up to 1,400 sq.m. and a hotel up to 20,000 sq.m. can be built.
Cosmopolitan destinations
If we leave the… footsteps of Odysseus and head to well-known and established cosmopolitan destinations, we will start with the ever-relevant Mykonos, where there are several offered investment properties.
Among them, a 15.6-acre plot in Kalo Livadi stands out, priced at 36 million euros. In other words, the price for this specific one per square meter reaches 2,307 euros. It is located in Ano Mera, near Kalafatis beach, complete, buildable, amphitheatrical, and with unlimited views.
In the Kalafatis area of Mykonos, another much larger plot is for sale, reaching 72 acres. The plot, marketed by New Neighbour, is 200 meters from the sea, adjacent to a provincial road, and is offered for tourist exploitation in any way (hotel, villas, entertainment center, restaurant, etc.). It is clarified that it can be sold entirely or “broken” into 50 acres or 20 acres. However, the price for the 72 acres is 22 million euros.
On the Island of Winds and close (500 meters away) to Elia beach, the real estate agency Barnes Greece markets a plot of 20,952 sq.m. with panoramic sea views. It is a property with great investment interest, suitable for the construction of houses and a hotel unit, and its price is 1.7 million euros.
In Santorini, there is another rare property, with an area of 100 acres. It is located in the Caldera of Akrotiri and, as highlighted by Greece Exclusive Properties, it is “the largest plot in the Caldera that one can buy.” It has a private marina, private road, and private beach, and is offered for a hotel complex, tourist village, or villa complex as, it is noted, in the 107,000 sq.m. there is a building coefficient of 0.2 and coverage of 0.2. Additionally, due to its location, it has a panoramic view of both the mountain and the sea. The price is 24 million euros.
Again in Santorini, and specifically in Thirasia, there is a 54.5-acre plot included in Sotheby’s International Realty’s proposals. “Helios Heights” offers the opportunity to acquire, for those who can, an “exceptional piece of seaside land in the picturesque and serene setting of Thirasia, with panoramic views, privacy, and endless possibilities.” In the 54,491 sq.m., a luxury seaside villa of 600 sq.m. or an underground property of 1,200 sq.m. can be built. The price of the plot is 4.5 million euros.
Thirasia: With panoramic views, a piece of seaside land of 54.5 acres is for sale for 4.5 million euros
In another cosmopolitan destination, Porto Heli, there are also several small but relatively limited large plots for development.
One of these last ones is marketed by the real estate agency Engel & Völkers. Its area is just under 11 acres (10,813 sq.m.) and is located “in one of the most sought-after high-quality areas in Porto Heli, with unobstructed views of the azure waters of the Saronic Gulf and Spetses.”
In this specific spot, known for its luxurious properties, this seaside plot is zoned for residential use, “offering the buyer the opportunity to create their dream home in a truly unparalleled location,” as emphasized. Its price is 20 million euros.
In the area of Thyni, half an hour from Porto Heli, there is another plot of 67 acres, marketed by the real estate agency Golden Land Goutos. It offers a panoramic view of the Argolic Gulf, and the next owner will have the opportunity to construct two luxury villas of 800 sq.m. each. In the area, it is noted, “luxury residences have been built by the international jet set, while major projects are about to start, making it interesting for investment.” The price of the 66,788 sq.m. plot reaches 15 million euros.
Gialova and the… other Cyclades
In recent years, the area of Pylos has been included among the rising destinations due to the Costa Navarino complex. A characteristic example is a seaside plot of 11.5 acres in Gialova, marketed by Engel & Völkers for 8 million euros. It is noted that “it is ideal for the construction of tourist accommodations or residences, especially if there is exploitation of the 11 old concrete warehouses with characteristic industrial design, which can be reconstructed and converted into pioneering houses.”
As another prime plot in Naoussa of Paros, Engel & Völkers markets the “Davi Peninsula.” With an area of 70 acres, consisting of two adjacent agricultural plots of 59 and 11 acres, the plot is 1,500 meters from the center of cosmopolitan Naoussa. With a building coefficient for tourist residences of 0.08 (depending on the applicable urban planning regulations and restrictions),
