Gothamist
A non-profit newsroom, powered by WNYC.
Gothamist
Listen Live
Arts & Entertainment
8 Greek Islands Cheaper Than NYC Apartments
By
Ben Yakas
Published Dec 18, 2014
Modified Dec 18, 2014
Share
FacebookTwitterRedditEmail
Never miss a story
Email address
By submitting your information, you're agreeing to receive communications from New York Public Radio in accordance with our Terms .
Gothamist
View all 8
By
Ben Yakas
Published Dec 18, 2014
Modified Dec 18, 2014
Share
FacebookTwitterRedditEmail
We rely on your support to make local news available to all
Make your contribution now and help Gothamist thrive in 2026. Donate today
Gothamist is funded by sponsors and member donations
So you're ready to get off the rental unit superhighway and take the first exit ramp onto ownership boulevard—but you're well aware that rental prices around NYC are more obscene than a man furiously licking his shoe on the subway. Sure, you could put some of that money toward a Scottish castle, God knows they're affordable these days. Or you could buy a small plot of land in upstate NY. But why not dream really big? Like, isolated-paradise-island-in-the-middle-of-the-Mediterranean big?
City Realty released their 2014 year-end report for Manhattan yesterday, which included a chilling list of the top 25 most expensive sales in 2014, which all came in over $30 million. Even the average price of a Manhattan apartment reached a record $1.8 million last year, and Brooklyn isn't far behind.
via
So why waste your money on a pied-à-terre when you can indulge in Greece's gorgeous private-island property market? Sure, there are some pretty sweet tax abatement reasons to stick with NYC, but wouldn't you rather spend part of your summers plucking olives and peaches from your own trees, stuffing your face with feta, or listening to the echo of rebetika music bouncing off the mountains while drenching yourself in olive oil baths?
WSJ reported this week that at least 20 privately owned Greek islands are currently up for sale, some for the first time ever. They're practically giving them away: "I have customers telling me they need to sell as quickly as possible. They say they can’t handle the tax burden," Yannis Kriaras, a real-estate agent based on the island of Crete, told WSJ. "Most of them resent having even inherited an island."
Many of the islands are underdeveloped—they're fixer-upper islands!—mostly beach and rock and some wooded areas (this sounds really terrible, we know). And sure, there's some red tape to get through ("up to 32 bureaucratic steps are required, including background checks to determine whether a prospective buyer would pose a threat to the country’s national security") to acquire one.
But let's not lose track of the big picture: you can own your own ISLAND. For the price of an average or slightly above-average Manhattan apartment! Sure, you'll have to put up with the occasional yacht mooring (all beaches in Greece are public, how about that), but there are always ways of dealing with irritants.
So scroll through above and check out the eight islands we picked for you (sorry folks, Nafsika Island has already been sold in the last couple days). Just please keep in mind that by reading this post, you are agreeing to let us use the island whenever we want. If you are reading this sentence, then it is a legally-binding statement. This is how the law works.
Tagged
greece
islands
manhattan
real estate
original
Ben Yakas
Ben Yakas is a former Gothamist reporter.
Read more
Gothamist is funded by sponsors and member donations
Gothamist is funded by sponsors and member donations
MORE arts-entertainment
Ever wish you could get paid to walk through a stranger’s house? ‘The Scout’ is for you.
A new film focuses on the strange career of a location scout in New York City.
By
Sonia Rao
Published Sep 26, 2026
There are 100s of places to visit during Open House New York. Here's 5 of our favorites.
See the entire lineup for the weekend when the city opens its doors.
By
Hannah Frishberg
Arts & Entertainment
There are 100s of places to visit during Open House New York. Here's 5 of our favorites.
See the entire lineup for the weekend when the city opens its doors.
By
Hannah Frishberg
A massive MTA archive ended up in a Virginia warehouse. A Brooklyn man brought it home.
By
Hannah Frishberg
How a Harry Styles pop-up in the East Village led to a nearby bookstore owner's arrest
By
Sonia Rao
NYC’s creative workers are increasingly self-employed, report says
By
Hannah Frishberg
Never miss a story
Catch up on the most important headlines with a roundup of essential NYC stories, delivered to your inbox daily.
Sign upEmail address
By submitting your information, you're agreeing to receive communications from New York Public Radio in accordance with our Terms .