The mysterious Greek island with no tourists, no hotels and a €247,000 price tag

However, not every island has this problem. In fact, some have avoided the consequences of overtourism altogether.

One such place is Makri, a 243-acre Ionian island with a craggy coastline, clear blue waters and long, hot sunny days for most of the year.

It is deserted, but it wasn’t meant to be that way.

This private island, which is the fifth largest in the Echinades archipelago, was once dubbed the ‘crown jewel’ for international investors.

In 2022, Makri was listed for €8 million by high-end real estate agencies, who pitched it as a prime spot for luxury getaways, complete with a five-star hotel with suites and private villas.

At the time, Makri was promoted as one of Greece’s private islands with a ‘mature’ legal framework for development prospects.

It was described as having clear ownership titles and being ‘immediately available for transfer.’

Things did not go to plan, and the uninhabited island is now heading to auction with a dramatically slashed asking price of €247,000 (£214,446).

Fancy owning your own slice of paradise? Here’s everything we know about Makri.

What caused the Makri island price drop?

For the last four years, Makri has been on the block at electronic auctions — where buyers and sellers bid or trade on goods, services, properties, and even islands, online and in real-time.

July 2022 was Makri’s first e-auction experience.

The island was listed with an initial price of €8 million (later reported as having a €3.8 million starting bid for a subsequent auction) based on a valuation report from the previous year.

However, a second valuation deemed the listing null and void, after it was discovered Makri had been classified as a private forest.

It was also found to lie within a Site of Community Importance and Special Protection Zone, which compromised any five-star development.

Ultimately, this meant that only agricultural activity was allowed on the island. As for infrastructure, light building work can only go ahead with a Presidential Decree.

There was also an issue with something called Natura 2000. This is a critical ecological network that protects habitats and species and prevents overtourism with strict regulations.

In recent weeks, the programme banned sunbeds on 251 Greek beaches right before summer.

Elsewhere, local outlet Sofokleous10 reported that whoever purchases Makri will receive mortgages, tax claims and legal restrictions dating back decades.

This includes Greek State claims exceeding €20 million.

With that in mind, there are few investors to fit the bill.

What’s on the island, and can you visit?

Legend has it that the Echinades were nymphs who were transformed into islands by a river god. One of those, according to the lore, was Makri.

Of course, we haven’t been, but with unspoiled beaches and crystal clear waters, we’re certain that the island has some spectacular swim spots.

Sadly, because it’s a private, undeveloped island, there are no public ferry services.

Nearby islands like Lefkada, often described as the ‘Greek Caribbean’, can scratch that itch instead.

In the event that you have the funds to buy Makri — and find a way around the rigid development rules — you’ll also have to contend with infrastructure challenges.

That means you’ll need to set up your own water, electricity, and waste disposal.

What’s a bit of hard work if paradise is the prize?

Sophie-May Williams