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Your own private island cheaper than the average London home

Source: Agencies | July 13, 2015, Monday | Online Edition

In the rarefied world of trophy homes, there’s little that says “I’m absurdly rich” like having your own private island.

Johnny Depp has one in the Bahamas without even a house on it. “That’s a growing trend among island owners, especially celebrities, who like the idea of camping out and not leaving a footprint,” says Kate Everett-Allen, co-author of Knight Frank’s “Island Review”, which looks at the latest trends in island living, the Telelgraph reported.

Others prefer to share their private islands, such as Facebook founder Mark Zuckerberg, who recently paid around US$100 million for a chunk of Kauai island in Hawaii, according to the report.

And a growing band are renting rather than owning, giving them the freedom to island-hop according to the seasons. Knight Frank calls them “wealthy millennials”, while Farhad Vladi, founder of Vladi Private Islands, who deals with many of the world’s island sales, refers to them as the “Facebook generation who like the excitement of island living but not the responsibility of ownership”.

There are currently a few hundred islands for sale ranging from wild, untouched outcrops to luxury hideaways with palatial homes or exclusive resorts. Most expensive is the 222-acre Cave Cay in the Bahamas on sale for US$90 million with a deep-water harbor, private airstrip and house – plus permission has been given for 38 more properties and a hotel. Or, if you have US$62 million, you could buy Halls Pond Cay, which would make Mr Depp your neighbor, both through Vladi Private Islands.

But 65 percent of private islands are on sale for less than US$500,000, according to Knight Frank, and some are positively cheap if you don’t mind forsaking the warm-watered idyll for something a little nippier on the toes and off the beaten track.

 

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