Private Islands are a luxury travel bucket list item that many dream about. These once-in-a-lifetime vacation destinations are surrounded by pristine flora and fauna, offering visitors seclusion and one of the world’s most valuable gifts; peace. While private islands come in all shapes and sizes, the most luxurious ones are backed by environmental responsibility and are a testament to how luxury and sustainability can go hand-in-hand.
With a variety of price ranges, from tens of thousands of dollars to millions of dollars, some people are able to turn their private island fantasies into a reality, and the number of private islands on the market is increasing. In a time where the experience is the driving force behind the way we travel, owning your own piece of paradise has never been more enticing.
According to a study by Dr Michael Brein, a ‘travel psychologist’, experiences have replaced materialism as the primary motivator for travel. People are looking for more one-of-a-kind vacations that go beyond passive consumption and offer the opportunity to become a part of the local culture. Adding to the appeal of private islands is the fact that they are often untouched, allowing for a more authentic experience with nature.
As a result of the rise in private islands, the demand for them has increased significantly in recent years, with buyers coming from all over the globe. The most popular destination for buying a private island is currently the Caribbean, followed by Asia and South America.
While some of these private islands are fully developed, requiring minimal effort to inhabit and enjoy, others require a fair amount of work before being ready for occupation. The cost of the island is also a big factor, with the more remote islands typically having higher costs than those closer to shore.
Once purchased, private islands can be transformed into a myriad of different things, from a secluded hideaway for modern day Robinson Crusoes to a tropical eco-friendly resort complete with Polynesian huts and expansive suites (courtesy of cosmetics mogul Francois Nars). However, some aspiring owners may find that the process is not as simple as they might have imagined. For example, a 4.1 acre island in San Francisco Bay is technically owned by three different entities (Contra Costa County, Marin and the city of Richmond), and development would need to pass a public referendum.
While some celebrities, such as Johnny Depp and Tyler Perry, have kept their private islands largely undeveloped for privacy purposes, billionaires like Richard Branson and Larry Ellison have transformed theirs into opulent retreats. But with the number of island-owning notables growing, and real estate prices continuing to rise globally, owning your very own private oasis has never been more feasible.