Navarino Residences were followed in 2018 by Navarino Apartments. At the lower end of the company’s planned real estate offerings, these 1,300-square-foot units have a starting price just under €500,000.
In both cases, buyers get multiple benefits from owning a property integrated into the resort, including free access to the complex’s amenities and rent-sharing programs that will generate profit when they are away.
Yet even with the interest that Costa Navarino has generated, second-home prices in the immediate vicinity of the resort remain significantly below those in more established Greek holiday destinations such as the Cyclades or Corfu. In these areas, according to Savills, average prices for holiday homes are about €370 per square foot; luxury homes go for above €740 per square foot.
And further afield, around Kalamata and toward the eastern boundary of Messenia near the Mani Peninsula, many properties remain accessible to buyers of even modest means.
“There are excellent opportunities anywhere in the Messenian Peloponnese,” said Mary O’Connor, who for 20 years has run a real estate business in Kalamata with her husband, specializing in the second-home market. “Except for around Pylos,” she added, where properties have become scarce. But even there, she said, “there are a few good plots left.’’
In other areas and villages, Ms. O’Connor said, plots and fixer-upper houses can still be bought for prices below €50,000.
George Elliott, 67, bought a fixer-upper in Messenia in 2001 and now lives there about six months a year. His house was once the village’s olive press. (The basement still has lots of the original machinery.) He is grateful that the Costa Navarino development has helped bring decent transportation to the area.
He would happily play golf, too. But he plays only in London, where he said it costs about $17. The Costa Navarino golf courses are just too expensive for him. “I don’t have that kind of pension,” he said.