FTIL 7 – Buying Your Own Island (Part 1 of 3 part series)

buy your own island

If you Google “private island sale,” 52MM results return in less than a second.  It is a thriving industry indeed…  There are tons of brokerage houses – asides from more well known, full service shops like Private Island Online and Vladi Private Islands, there are tons of niche dealers specializing in specific regions like the Caribbean, Virgin Islands, Canada, Bahamas, Europe, etc.  Vladi boasts a database of more than 10,000 private islands worldwide and claims to have brokered over 1,000 transactions in the last 30 years.  The prices range from $25,000 to $50MM, although typical tranactions range between $200K and $800K.  Here are some special requirements or steps you should follow before plopping down the cash.

  • The island should not be too far from general population in case of emergency
  • Fresh, drinking water must be available
  • The host country must be politically stable
  • The land itself should be suitable for development, unless you intend to use it for otherwise
  • Use a good lawyer – ensure the title is free and unencumbered and pre-ownership is clear in a Registry of Deeds

Lastly, drive before you buy.  Stay a day or two on the island to ensure no surprises.  There are bargains to be had.  The cheapest island sold in 2007 according to public records was an eighth acre in Lake Charlotte, Nova Scotia, Canada for $1,500.  Happy hunting…

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About Richard Lee
Experienced finance and operations professional. Currently partner in five companies, adjunct professor of economics at Columbia College and executive contributor to a small business blog (www.SMBmatters.com); following corporate finance, M&A and management consulting tenures with Orbitz and Diamond Technology Partners; and six years of service with the United States Army.

One Response to FTIL 7 – Buying Your Own Island (Part 1 of 3 part series)

  1. Richard Lee says:

    So who wants to buy one? Ahem, Ms Werner, Ms Reisman? 🙂

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