A private island rising from the turquoise and inky blue waters of the calm Gulf of Pteleos is searching for a new owner.
On the market for €35 million (US$40 million), the sensitively preserved 60-acre island Argyronisos – or Silver Island, as the translation goes from its Hellenic lilt – is one of a small group of privately owned Greek islands being offered for sale.
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Available for the first time since it was acquired in 1961, the 60-acre (24 hectares) island is being marketed for use as an ultra-private retreat, or to expand the established boutique yoga and wellness retreat already in place.
“Argyronisos stands as one of the most distinctive private retreats currently available across the entire European coastline,” says Georg Petras, CEO of Engel & Völkers Greece, the island’s listing agent.
Sun, sea, sand & solar energy
Located off the northern tip of Evia in the sheltered Gulf of Pteleos, Argyronisos will allow any incoming investor serious room to manoeuvre.
The existing resort offers an insight of what can be achieved on the island (subject to regulatory and zoning approvals), and is an exceptional example of a space that caters to experiential travel seekers, increasingly favoured by high-net-worth holidaymakers across the Mediterranean.
The estate comprises meticulously maintained buildings, including a distinguished main residence, a two-storey villa, several traditional natural stone houses, a caretaker’s house, and the historic Greek Orthodox Chapel of St. Anargiri.
“What makes Argyronisos truly exceptional is that its luxury isn't defined by over-development, but by six decades of loving stewardship as well as absolute privacy”
Georg Petras, CEO, Engel & Völkers Greece
It’s powered entirely by independent solar energy and has been home to a family-run olive farm for the past six decades. The current owners have been long-standing proponents of mindful living, putting firm emphasis on sustainability, biophilia and respecting natural surroundings with minimal intervention.
“What makes this place truly exceptional is that here luxury isn’t defined by over-development, but more than 60 years of loving stewardship – an absolute privacy, of course,” Petras stated.
Over this period, the island has played host to renowned entrepreneurs, artists, and other prominent figures, all of whom are searching for what is truly rare on the global super-prime market: a sanctuary space untouched by mass tourism and the kind of mainstream developments built to furnish high-end investor portfolios.
Preserved values & eco-luxe infrastructure
Argyronisos currently holds a fully developed status with 11 well-maintained stone structures scattered across the landscape, which are complemented by historic stone ruins, centuries-old organic olive groves, deep-water dock launches (including onto the sailing grounds of the Sporades), as well as several private beaches.
It’s rich biodiversity, which creates a lush tapestry painted by rolling hills, ancient olive trees, cypress groves, wildflowers, and small, idyllic private coves that hug the shimmering azure coastline.
A private boat transfer from the nearby mainland docks or mainland marinas is the primary port of access, with approximately a two-and-a half-hour drive and boating transfer from Athens International Airport. At the same time, it offers direct access to the neighbouring islands of Skiathos, Skopelos, and Alonnisos.
The sale of Greek private islands is extremely rare with only a very small number coming to the open market. Many of the islands are publicly owned or protected, governed by stringent environmental regulations, limited available inventory, and complex planning and zoning rules for island development.
For context, in May, the uninhabited Greek island of Makri, the fifth-largest island in the Echinades, was put up for sale for just €247,000. Classified as “forest land,” Makri lies within a Site of Community Importance and Special Protection Zone under the European Union’s Natura 2000 ecological network.
This means the island is ecologically sensitive, and that only minimal infrastructure and agricultural work would be permitted, highlighting asset scarcity in terms of residential and hospitality development opportunities.
Argyronisos falls within a very small inventory of islands available for private use and the sale is expected to attract significant interest from independent investors, hospitality groups, and international developers.
Those marketing the island hint that it could eventually support more extensive tourism infrastructure and large hospitality projects if local planning regulations are revised in the future.
The island’s one-of-one trophy status, established wellness retreat infrastructure and well-preserved natural beauty, however, is its primary value proposition, as is the potential to create a remarkable, well-preserved legacy asset for future generations.
The investor’s view
Greece has rapidly become a favoured UHNW destination. According to the Henley Private Wealth Migration Report, the Hellenic country pitch to the wealthy is potent: natural beauty that’s hard to rival, millennia of cultural cachet, and a Golden Visa program that grants residency through real estate or business investments.
The 2024 Virtuoso Luxe Report, which surveyed more than 2,000 travel agents, cites Greece – also named Best European Destination in this year’s Telegraph Travel Awards – as one of the top global destinations for high-net-worth travellers.
“Greece’s luxury hospitality sector is booming, yet Argyronisos is decoupled from the broader market entirely, offering new owners the opportunity to continue building slower, sustainably minded businesses”
Greece’s luxury hotel sector is booming, yet Argyronisos is decoupled from the broader market entirely, offering new owners the opportunity to continue building slower, sustainably minded businesses, the kind unburdened by large-scale developer margins and glossy brochures.
Petras concured, explicitly pointing out how rare and unreplicable an opportunity the sale represents: “In the high-end Mediterranean market, usually acquiring a property is about lifestyle; acquiring a private island in Greece, however, is about legacy. A fully private island with a rich history and ready-to-use footprint like Argyronisos’ is extraordinarily rare.”
