The greatest status symbol is owning a private island. The owners are separated from their peers—and the harsh realities of the outside world—by water. A house becomes a kingdom when it is surrounded by water. homes
It's fairly attainable in terms of personal kingdom fantasies. David Copperfield, the magician, has his own island. Richard Branson, Johnny Depp, and Mel Gibson all agree.
There are hundreds of islands for sale all over the world at any given time. However, analysts say the market has been hurting in recent years, with rates for a good island dropping by 50% or more. A private island could be the ultimate discretionary purchase—no one requires one—and the number of buyers is small.
With the exception of Qatar's Sheikh Hamad bin Khalifa al-acquisition Thani's of six Greek islands for around €8.5 million ($11.1 million) earlier this year, large island transactions are rare these days.
Here's a sampling of five private islands for sale that are significantly less expensive than the Sheikh's:
Scotland's Tanera Mor
3.62 million dollars
This 800-acre island, 1.5 miles off the northwest coast of Scotland and part of the Summer Isles archipelago, has been owned by a single family since 1996. On the island, there are nine residential buildings, a cafe, a post office, and three jetties. "The opportunity to own your own Scottish island is extremely rare," said John Bound of CKD Galbraith, the listing agent. "We expect a lot of interest when Tanera Mor goes on the open market, given its booming tourism industry and its status as a truly spectacular place to live."
James Island is a small island off the coast of
Canada's British Columbia
75 million dollars
Craig McCaw, the telecommunications billionaire, owns this 780-acre full-service island in Canada's Gulf Islands archipelago. An airstrip, six guest houses, an 18-hole Jack Nicklaus-designed golf course, and a mock Western town are among the amenities. According to the listing, it was once used as an agricultural settlement as well as a "industrial plant and company town." A nature preserve has been developed on 20% of the island.
South Africa's Lady Hamilton Isle, Port Alfred
1.36 million dollars
The only privately owned island in the Royal Alfred Marina development on the "Sunshine Coast" of South Africa. The island can be subdivided and occupies more than 3,800 square meters. According to the listing, "one might offer freehold title to different owners and build your own group." On the land, the previous owner built a mansion with a pool, tennis court, and clubhouse. However, a fire destroyed the building.
New York's Petra Island
$19.9 million in total
The 11-acre island, which is situated on private Lake Mahopac, has sparked debate in the architectural community. The main building, according to advertisements for the island, was designed by renowned architect Frank Lloyd Wright, who allegedly once claimed the house would exceed his famous Fallingwater. Wright designed the house but never completed it; in 2008, the new owner hired an architect to bring the designs to life, a method that purists say disqualifies the house as a "Frank Lloyd Wright." A 1,200-square-foot cottage, on the other hand, was planned and constructed in the 1950s.
Sandy Cay Abaco is a small island off the coast of the Bahamas.
$10.9 million in total
A resort has been built on an 8-acre island in the Sea of Abaco. The island, which is just 45 minutes from Miami, has deep-water docks, a dive store, and a 5,400-square-foot main house, according to the listing. There's something, though. In the harbor of nearby Man O War Cay, the offer includes five vessels, a reverse osmosis water maker capable of generating 6,000 gallons per day, and a 15,000-square-foot parcel of land with two docks and a boat lift.