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Own a Private Island for Less Than the Average London Home

Wed 15 Jul 2015

Having your own island is the ultimate status symbol and tells the world just how rich you really are. Nothing shouts wealth more than owning a luxury private island in a beautiful sunny location.

Some of the most famously owned private islands include Necker, which is owned by Richard Branson, Blackadore Caye, which is owned by Leonardo DiCaprio, and Rooster Cay, which is owned by Eddie Murphy.

Johnny Depp owns an island in the Bahamas that doesn’t even have a house – an increasingly popular trend among the rich and famous who don’t want to leave a footprint on their islands.

There are hundreds of islands currently on the market, ranging from those that are still untouched and wild, to exclusive resorts that are decked out with huge homes and luxurious furnishings.

The most expensive island currently on the market is 222 acre Cave Caye in the Bahamas, which can be bought for £58.4 million. It includes a private airstrip, a house, and a deep-water harbour, and already has planning permission for a further 38 properties to be built on it.

Although this may seem like a huge amount of money, 65% of islands are actually on sale for under £320,000, and some are even cheaper if you are happy to pick somewhere slightly more chilly and off the beaten path.

Porcupine Island in Nova Scotia is currently on the market for under £30,000. The island is completely empty, but you get a house on the mainland just 800m away thrown into the deal.

Inishdooney Island is a lush, green private island just off the coast of Northern Island and was on sale for just £140,000 under a year ago. The island is in a very remote location and is only accessible via boat or helicopter when the weather conditions are good.

In February of this year, the 10,893-square foot Isla Paloma on the northern side of the Central American nation of Panama was on sale for just £266,00. This luscious retreat includes a small personal beach, and beautiful scenery, including a host of tropical palm trees.

According to property site Rightmove, the average price of a home in north London is currently £640,039, meaning you could buy the islands above, and still have thousands of pounds left to make it your own.

You may not feel like owning an entire island is right for you though, and might just be looking to grab a piece of tropical property as part of a community. Well, some celebrities prefer to share their islands too – Mark Zuckerberg, Facebook founder, recently paid around £64 million for a chunk of Kauai Island in Hawaii. Some wealthy millennials prefer to just rent islands, meaning they can hop from place to place depending on seasonality, and don’t have to worry about the responsibility involved in owning an island.

With technology continuing to develop, the ability to do your job from the comfort of your own island makes these places more attractive than ever to the super-rich who are looking for a good place to work and play.

So what would you rather have? A house in London or your own private island?

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