For Sale or Development: three adjacent plots

Total area: 12,218 sqm

The plots are located on the main road connecting the port (Korissia) and the main village (Chora, also known as Ioulis) with Vroskopos Bay. The plots are 6 km (about 12 minutes) from the port, 8 km (15 minutes) from Ioulis, and 4 km (9 minutes) south to Vroskopos Bay. The closest beach is Kalamitsi, 2.8 km away (a 7-minute drive), accessible by SUV.

The property consists of three adjacent plots on the west side of the main road, providing a 180-degree view from north to west to south. To the west, you can see the Attica Peninsula, to the north, the southern tip of Euboea, and to the south, the southeastern Peloponnese, including Hydra Island.

Each plot has its own title of Property and is sold separately.

360 view

Nearby Developments

Vroskopos Bay, located 4 km south of the plots, has been developed into a luxury holiday resort by One&Only Resorts, featuring a hotel and several villas for sale. The resort opened in April 2024. As of July 2024, the asking price per square meter for a villa purchase was around €14,000 (Engel & Völkers).

Between the One&Only resort and the plots, at 1.3km (3-minute drive), a new resort project, Hills & Sea, is under development. Expected to be completed in 2026, this 5-star resort will include a hotel and 75 villas.

The island: Location, History, Opportunity

Kea Island, also known as Tzia, is the northernmost island in the Cyclades and the closest to Athens. The ferry from Lavrio port to Kea’s port Korissia takes about 1 hour, covering 17 nautical miles. Lavrio port is 37 km from Athens International Airport (a 20-minute drive) and 60 km from Athens city center (a 50-minute drive). A helicopter ride from Athens International Airport to Kea takes about 15 minutes.

Kea has an egg-shaped profile, measuring approximately 19 km from north to south and 9 km from east to west. The island features a ring road that allows a complete tour in about 2 hours. Inhabited since the Bronze Age, Kea hosts significant archaeological sites. The remains of the Agia Eirini settlement in Vourkari date from around 1600BC. On the southeast side of the island is Karthaia, an archeological site that used to be one of the four city-states of the Cyclades from the 8th to the 6th century BC. That is from the Geometric period to Late antiquity. Archeological findings are found in several locations across the island. The most notable one is the Lion of Ioulis (or Liontas), which was carved some time prior to 600 BC. Ioulis has a small but worth visiting Archaeological Museum. Of particular interest are the female clay figurines found in the prehistoric settlement of Agia Eirini.

The island boasts 63 beaches, with some offering club facilities. Most are accessible by car or jeep, while some require foot or sea access. The main villages are Ioulis (Chora), Korissia (the port), Vourkari (a popular sailing boat anchorage), and several smaller communities scattered around the island.

Kea is also a scuba diving destination. A locally based scuba diving team operates year-round, offering, summer dives to various locations including, weather permitting, the 1868 wreck of the steamship Patris at a depth of 28 meters. Off-season, they organize professional dives to explore the HMHS Britannic, the sister ship of the Titanic, lying at a depth of 122 meters. Several other wrecks lay in the area.

The Plots: Proximity & Potential

Four factors make these plots a perfect choice to invest:

Stunning Views: The plots offer an expansive, unobstructed panorama stretching from north to south. A divine sensation washes over you as you look out over Attica, with Athens nestled behind Mount Hymettus, while the distant vistas of southern Euboea and eastern Peloponnese unfold before you. Down below you can relax by gazing at the passing vessels.

Location: The plots are conveniently close to essential island locations including the port, the main village (Ioulis), several beaches, and the entertainment hub of Vourkari. Within 10-15 minutes, you can reach the island’s most important spots for both logistics and entertainment. Here are some distances:

Port (Korissia): 6 km (12-minute drive)
Main village (Ioulis): 8 km (15-minute drive)
Entertainment hub (Vourkari): 8 km (15-minute drive)
Club beach & diving (Vroskopos Bay – One&Only resort): 4 km (9-minute drive)
Beach (Kalogiros): 4 km (10-minute drive)
Closest unspoiled beach (Kalamitsi): 3 km (7-minute drive)
Petrol station: 4 km (10-minute drive)
Supermarket (AB or Kritikos): 5.4 km (12-minute drive)

Significant Developments: Two exclusive developments nearby, One&Only Resort and Hills & Sea, signify the beginning of the transformation of the area. With resort properties selling for €14,000 per square meter, properties outside the resorts can be developed profitably at a fraction of the price, offering significant returns to developers and savings to buyers.

Westward Inclination: The plots’ westward slope (35-42%) allows for subterranean house construction, more than doubling the building allowance and providing natural insulation and protection through bioclimatic design to the benefit of the developer and the homeowner, respectively.

We own a summer house near Ioulis and, with teenage kids, we need liquidity to fund their education abroad. We are therefore looking to liquidate some of our investments. Otherwise, we would hold onto these plots for probably 3-5 five years, anticipating a price increase of over 50%.