A Greek private uninhabited island will be put up for auction in September with a starting price of ten million euros (13.23 million US dollars), a local auction firm announced on Wednesday, noting that it is the first time the owners of a Greek island choose this path in a bid to reduce red tape.

The 10 hectare Spalathronisi island off the coast of Halkidiki peninsula in northern Greece which was named after a local plant belongs to a Greek family for decades.

Amidst the debt crisis which has led to numerous tax hikes on real estate property over the past three years, owners of large stretches of land, including islets, have opted to put them up for sale.

This spring Qatar emir Hamad bin Khalifa Al Thani bought six isles in western Greece in the Ionian Sea for some 8.5 million euros, according to reports, while Russian businessman Dmitry Rybolovlev purchased the nearby island of Skorpios which once belonged to late Greek shipping magnate Aristorelis Onassis.

The sale price for the Shorpio was not announced, but according to estimates its worth exceeds 100 million euros.

In both cases, lawyers involved in the transactions noted that the procedures lasted several months due to bureaucratic obstacles concerning dozens of permits from authorities.

Representatives of "Myro Antiques House" which organizes Spalathronisi's sale stressed that the auction process minimizes the red tape issue.

A "buy it now option" was launched on Wednesday and is scheduled to run until August 20, which means that if the owners will be pleased with the prices interested parties may offer, Spalathronisi could change hands without the auction taking place.

According to local real estate agents dozens of Greek owners of isles have expressed interest to put their property up for sale with starting prices from one million euros to more than 100 million euros.

As regards state owned islands the government has stressed several times that there are no plans for similar sales. (1 euro = 1.32 US dollars)