The only settlement of the island is built at its northwest part, at the valley formed by two torrents. Here until the catastrophic earthquake of 1968, the inhabitants of Agios Efstratios cultivated their gardens. Before the earthquake, the old settlement of Agios Efstratios was situated over the harbour on a hill. Houses were made of stone and featured two or three stories with wooden supports and traditional architectural styles. The military dictatorship of that time (junta) decided to demolish almost all the houses of the settlement.

From the earthquake and the subsequent demolition, some stone houses were saved which were later restored with great care by the locals, like the beautiful building of Porfyreios and Marasleios School which until then housed the primary school of the island.  It was erected from 1906 to 1909 with funds of the community of people from Agios Efstratios who lived in Egypt and the donation of National Benefactor Grigorios Maraslis. Presently, following its renovation, it is planned to house the “Green Energy” Academy within the framework of the implementation of “Ai Stratis – Green Island” Project.

Its beautiful harbour offers shelter to fishing and sailing boats with which the access to remote parts of the island’s coasts are easier. In front of the settlement the beach of Arkari is found with clear waters and grey pebble.