Kefalonia

You’ve seen that amazing waterfront on about a thousand brochures, and maybe read Captain Correlli’s Mandolin, Kefalonia (Cephalonia) is increasingly popular as a tourist destination.

However, for tourism it still lags behind its Ionic neighbour Corfu. The largest Ionian Island, Kefalonia is a bit bigger than Corfu but with only a third or so of the population. Mainly because it is wilder and has a more diverse terrain, including quite high mountains.

It’s still less touristy than some islands despite a Which? survey saying it was the best Greek island, rated 5 stars for beaches, food and drink, scenery and peace and quiet.

The island is dotted with small towns, charming villages, old castles and pretty lighthouses.

Beyond its beautiful beaches, Kefalonia is home to incredible scenery. The Cave Melissani, contains a lake and is surrounded by forest, while the Mount Ainos is the highest peak (1,628 metres) in all of the Ionian islands. It makes for a wonderful hike, where you might spy lilacs, foxes and wild horses.

From the mid-14th to the late 18th century, the Ionian islands were ruled by the Venetians. The legacy of this is felt through the architecture: the Castle of Assos, a fortress that dates back to the 16th century and the Castle of St. George which overlooks the capital, Argostoli.

Kefalonia was beloved by British poet Lord Byron, who wrote, “the poet that I am, I owe to the air of Greece” and there is a rock to commemorate his relationship to the island.

Why buy property in Kefalonia

Kefalonia is a fantastic choice for those seeking a balance between a Greek island that is a hit with holidaymakers, like Corfu, and one so remote and small that you might feel a tad too cut off.

In a recent Which? survey, Kefalonia was voted the best Greek island, with survey responders giving it five stars for beaches, food & drink, scenery and peace & quiet. The island recently got its first luxury hotel and spa, Eliamos, with rooms boasting incredible panoramic sea views.

Typically, Kefalonia’s holiday season lasts from April to October, peaking during July and August.

The weather in Kefalonia

You can expect hot, sunny summers with highs in the mid-30s°C and up to 12 hours of sunshine. Spring can be windy, a little rainy but enjoys temperatures of 24°C. Temperatures are similarly mild in autumn but increasingly rainy, with November being the wettest month of the year. Winter sees highs of 15°C and sometimes snow on the mountains.

Rainfall is more common in the Ionian islands than more southern islands, like Crete, but it does result in greener, lusher landscapes.

What can I get for my budget in Kefalonia

In Kefalonia, you can find a land plot or an older home in need of renovating for well under €50,000. For a smaller, older home that could use a slight freshening up, you can expect to pay upwards of €120,000.

Kefalonia has a growing but small market for newer and off-plan homes, but for the most part, those with a larger budget will look to purchase a multi-bedroom villa with a private pool and panoramic sea views.

Is a property in Kefalonia a good investment?

Property prices in Kefalonia are on the rise. The average asking price for a residential property is just under €2,400 per square metre.

Property in Kefalonia is slightly more affordable than Corfu and considerably more affordable than hotspots like Mykonos.

How to get to Kefalonia

Kefalonia has an airport with connections to some European destinations, such as the UK, Austria and the Netherlands. The airport is located 8km from the island’s capital, Argostoli, with taxis and buses to take you between the two.

Towards the end of autumn, international flights come to a halt until spring, and the island becomes much quieter and less busy. However, the airport flies to Athens, whatever the season.

You may prefer to travel via ferry. There are routes to ports in western mainland Greece, other Ionian islands (Lefkada and Zakynthos) and there are even seasonal routes to Italy.

Where to buy in Kefalonia

Argostoli

If you’d like to be in the heart of the action, look to the capital. It is here that you will find the most modern amenities, from bakeries to banks to healthcare. Argostoli is also home to museums, cafes, a lovely waterfront, and it is all complemented by beautiful views of the bay. Head to Lixouri, the second largest town, for a more laidback vibe.

Fiskardo

A picturesque village in the northern part of the island, known for its Venetian architecture and charming harbour.

Skala

A tourist hotspot with gorgeous beaches to match. Skala offers a range of restaurants, bars, and shops. It is a great place to look for a holiday home.

Sami

Located on the eastern coast, Sami is known for its natural beauty and proximity to attractions like Melissani Cave and Antisamos Beach.

Assos

A small, picturesque village with a stunning bay and a Venetian castle. Assos is known for its serene and idyllic setting.

11 steps to buying a property in Kefalonia

Buying a property in Kefalonia is not difficult, if you have a plan and some help from professionals. Follow our step-by-step guide to make your dream a reality.

1. Research and planning: Download guides, read articles, sign up for events and exhibitions to gather all the information you may need about buying a property in Kefalonia. Do you know anyone who has already bought in Greece, or lives there? Maybe give them a call. Try to narrow down the location you want to buy a property in.
2. Define what you’re looking for: Determine what you want in terms of property type, size, location, accessibility and budget. Separate your must-have features from your nice-to-haves. Allow for buying costs of up to 10% on top of the sales price.
3. Speak to a currency expert: Firstly, you need to know your budget. Secondly, moving exchange rates are a risk in international property purchases, so discuss managing that risk with a forward contract that fixes your exchange rate.
4. Get your AFM number The ‘Arithmos Forologikou Mitroou’ number is a tax identification number necessary for financial transactions, including purchasing property. Head to the local tax office with your passport and birth certificate to obtain it.
5. Make essential connections: Connect with a local estate agent. The easiest way to do that is to make an enquiry on a property in Kefalonia. Also contact an independent property lawyer and maybe a tax specialist too. Your Overseas Home can help you, so give them a call.
6. Viewing trip: Speak to your estate agent about your requirements, then book a viewing trip to visit potential properties. The agent will advise on the best time for that.
7. Make an offer: When you find a property you like, you can make an offer via your estate agent. Your lawyer will begin the legal and due diligence processes.
8. Sign the reservation and sales contract: You may have to pay a reservation fee to take the property off the market. Once approved, and due diligence completed, you’ll sign the contract and pay a deposit (usually around 10%).
9. Plan for utility connections: The wait begins, this can often take several weeks. Look into getting your utilities connecting during this time
10. Sign the final contract: When ready, you’ll be asked to sign the final contract in front of the notary and pay the outstanding amount on the property, along with the relevant taxes, stamp duty, notary fees, and legal fees. Then, you’ll get the keys to your very own home.
11. Register the property: Finally, once you’ve signed the final contract, your lawyer will register the property with the Land Registry to ensure the property is in your name.