Country Guide

Buying a Private Island in Greece

Greece is one of the very few European countries where privately owned islands genuinely exist and change hands. Ownership is open and, for most buyers, unrestricted — but islands engage a distinct set of controls around national defence, the shoreline, forests and antiquities that do not arise on the mainland in the same way.

Private island ownership is possible

Greece recognises full private freehold, and a number of Greek islands are privately owned. A buyer acquires the land itself, not a lease, and holds it on the same secure basis as any other Greek real property. What distinguishes an island from a mainland villa is the concentration of overlapping public-law regimes — defence, coastal, forestry and heritage — that an island parcel is especially likely to touch. None of these is prohibitive in itself, but each must be cleared, and the diligence on a Greek island is as much about these regimes as about the title deed.

Border areas and defence permissions

Under a long-standing framework (Law 1892/1990), land in designated border regions is subject to acquisition controls. These regions include much of the eastern Aegean and the Dodecanese — the islands closest to Turkey, such as those around Lesbos, Chios, Samos, Rhodes and Kastellorizo — as well as other frontier zones. For non-EU (and non-EFTA) buyers, acquiring property in these areas requires prior authorisation, and the restriction can be lifted only on application.

Private islands are treated with particular care. As a general matter, acquisition of a private island requires authorisation from the Ministry of National Defence, reflecting the strategic sensitivity of isolated territory. EU citizens buying in most non-border locations face no such requirement, but a non-EU buyer, or any buyer of an island in a sensitive zone, should assume that a defence clearance is part of the process and build the associated time into the transaction.

The coastline: the aigialos

Greek law treats the shoreline zone — the aigialos — as public and inalienable. The seashore and beach belong to the state and cannot be brought into private ownership; the sea itself and the seabed are likewise public. In practice this means that even the owner of an entire island does not own the foreshore strip, and any use of it — a jetty, a mooring, a beach installation — depends on a concession or permit from the state rather than on the title to the land above. Buyers should map where the aigialos line falls and understand that development touching it is a separate, permitted matter.

Forests and archaeology

Two further regimes commonly constrain island land. Forest-designated land is heavily protected under Greece's forest maps: development is restricted or prohibited, and dealings in forest plots require approval from the responsible agricultural and forestry authorities. Because forest classification can cover substantial parts of an island, its extent should be established before purchase, as it directly governs what can be built.

Archaeological controls are equally material in a country as rich in antiquities as Greece. Land may fall within protected zones administered by the local ephorate of antiquities; excavation and construction may require archaeological clearance, and the state can hold pre-emption rights over sites of interest. As with forestry, this is best investigated early, since a designation can shape or halt a development plan.

The Golden Visa in context

Greece's residence-by-investment programme — the Golden Visa — is often relevant to island buyers, and it was substantially reformed by Law 5100/2024, effective from the autumn of 2024. In broad terms, the real-estate threshold rose to €800,000 in the highest-demand areas (including Attica, Thessaloniki, Mykonos, Santorini and the larger islands above roughly 3,100 residents) and to €400,000 elsewhere, with the standard tiers generally requiring a single property of at least 120 square metres. A reduced €250,000 threshold remains for specific cases such as the restoration of listed buildings and certain conversions. The programme grants residence, not the right to buy, which for most nationalities is governed by the rules above; the thresholds and zones are adjusted periodically and should be checked against the current law.

Taxes and duties, in orientation

On a resale property, the principal acquisition cost is transfer tax, levied at around 3% of the taxable value, together with a small surtax, notary fees of roughly one to two percent and a land-registry fee of about half a percent. Newly built property can instead fall within VAT, though a suspension of VAT on new builds has been extended in recent years. Ongoing property taxes apply to ownership. These rates and reliefs change with successive budgets, and the interaction of transfer tax, VAT and any Golden Visa structuring should be confirmed for the specific transaction.

Practical steps

In sequence: obtain a Greek tax number and open the necessary banking arrangements; commission full diligence covering title, the defence-zone status of the island, the aigialos line, any forest classification and any archaeological designation; determine whether a defence or border authorisation is required and apply for it; agree terms and instruct a Greek notary, who is central to the conveyance; complete before the notary and register the deed. Where the Golden Visa is a goal, align the acquisition with the current investment thresholds from the outset.

General orientation only, current as of 2024 and not legal or tax advice; Greek law — including defence-zone controls, forestry and coastal rules, Golden Visa thresholds and tax rates — evolves. Confirm the current position and your structure with qualified Greek counsel and a notary before acting. Enquiries: the enquiry form.