luxury apartments / penthouses for sale Meganisi, Greece

This exceptional waterfront holding extends across approximately 270,000 sqm (2,906,255 sq.ft.) on the coastline of Ithaca, occupying a substantial stretch of protected Ionian landscape with direct access to the sea. Positioned above a secluded bay and surrounded by largely undeveloped countryside, the property combines considerable scale, privacy and development potential within one of the Ionian Islands’ most naturally preserved settings. The land unfolds across a varied topography that rises from the shoreline to elevated viewpoints overlooking the sea. From multiple positions throughout the property, uninterrupted views extend across the Ionian towards neighbouring islands and distant mainland coastlines. The terrain creates a strong sense of separation from surrounding areas, allowing the property to feel private and self-contained despite its accessibility. A private internal road already connects the entrance of the estate to the shoreline below, creating a direct relationship between the upper and lower sections of the land. This established access significantly enhances the usability of the property and provides a rare level of connectivity between the development areas and the waterfront. The scale and configuration of the site create exceptional flexibility for future development. Existing planning allowances support either the creation of a substantial private residential estate or a larger hospitality project, with sufficient land to preserve privacy, open views and generous separation between any future structures. The natural contours of the terrain are particularly well suited to an architectural approach that follows the hillside, allowing development to be integrated into the landscape while maintaining sea views from multiple elevations. Throughout the property, the varied topography provides both openness and shelter, creating distinct areas with different orientations and outlooks. The combination of elevated positions, direct waterfront access and extensive land area allows future architecture to respond to the landscape rather than compete with it, taking advantage of the site's scale and natural geography. Ithaca remains one of the most discreet destinations in the Ionian, valued for its unspoilt coastline, protected natural environment and relaxed year-round character. Despite the sense of remoteness, local harbours, villages and essential amenities remain accessible, while the island's maritime connections provide straightforward access to the wider Ionian region. For residential use, the approximate building allowance reaches 1,400 sqm (15,069 sq.ft.), while commercial development potential extends to approximately 20,000 sqm (215,278 sq.ft.). The combination of extensive waterfront frontage, direct sea access, established infrastructure and significant development capacity places this among the largest and most substantial coastal landholdings currently available on Ithaca. As the land rises above the shoreline, uninterrupted views across the Ionian remain a constant presence throughout the property, reinforcing the close relationship between the site and the sea.