An uninhabited private island in Greece (pictured) will be put up for auction in September with a starting bid of €10 million (S$16.8 million), according to media reports.
Located off the coast of Halkidiki peninsula in northern Greece, the 10ha Spalathronisi island has been owned by a Greek family for decades. The owners decided to auction the island to reduce red tape.
Owners of large tracts of land in Greece, including islets, have been forced to sell them after a series of tax hikes over the last three years due to the debt crisis.
Reports indicated that six islets in western Greece were bought by Qatar emir Hamad bin Khalifa Al Thani for €8.5 million (S$14 million), while the nearby island of Skorpios, formerly owned by the late Greek shipping magnate Aristorelis Onassis was acquired by Russian businessman Dmitry Rybolovlev.
Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories email romesh@propertyguru.com.sg
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