The Positive Aspects

-          Most plots for sale in Porto Germeno and Psatha, border urban areas, where water, electricity and paved roads exist and connect most of the parcels. .

-          Porto Germeno and Psatha are established holiday venues for day trippers from Athens.  Both venues are under residential pressure, in the aftermath of a ten year Hellenic financial crisis.  The residential and tourist development has been greatly underdeveloped.

-          Now that on the one hand, the economy of Greece is showing positive growth and on the other hand there is international geopolitical and monetary concern, investments in land are becoming much more attractive, especially in regions around Athens.

-          The distance from Athens to Port Germeno and Psatha, is about an hour, driving on a very good national road, for the most part. Very important for residents of Athens who convert holiday accommodation into permanent residences.

The Negative Aspects

-          The specific areas for sale do not constitute a single uninterrupted plot of land.  This makes planning and zoning the separate plots of land, rather difficult.

-          The plots are designated FORESTRY (from dense forest to brush) and a zoning change application is required. In this change, the state will request a one to one concession. Meaning that for every acre (stremma) of forest which is declassified, the owner will have to donate an acre (stremma) of forest somewhere else for free.  The cases, for which a change of designation    (zoning) could take place, would be:

a) When the forest maps become open for corrections and updates (this is usually the case before national elections in order to serve voters’ interests) and in this case a well documented objection proposal on the recognized forest areas should be ready to be immediately submitted.

b) There are legal “windows” in the forest law allowing for strategic (fast track) investments which allow a buyer of such lands to change the land use (zoning) in a relatively short time and build for example a large tourist facility.

-          There is also an area which was burnt in the past and has been declared to be reforested.  In this area, no construction is permitted, except the installation of renewable energy production units (Photovoltaic panels and wind turbines).

-          There is a forced seizure and auction (not yet announced) due to debts to the Government (taxes) of a 200 acre plot of land on the beach of Psatha, with a starting price of 4,000,000 Euro.  Independent certified State appraisers estimated the value of that land at 20,000 Euros / acre (stremma).

-          The specific areas for sale are almost all on mountain slopes, which make their development difficult but offer incredible panoramic views of the forests and the sea.