A Greek Island Is Now Cheaper Than an Apartment in Sofia

A small Greek island once marketed as a luxury investment opportunity has seen its price collapse dramatically, now set for auction at 247,000 euros, a fraction of its earlier valuation, Bulgarian media "Focus" reported, citing Greek Reporter. The island of Makri, located in the Echinades archipelago in the Ionian Sea, was previously promoted by international real estate agencies as a prime site for high-end development, including a five-star resort and private villas. At that time, it carried a price tag of around 8 million euros, or roughly 9 million dollars. ...