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THE ESSENTIAL GUIDE TO

PURCHASING A

PRI V ATE

ISLAND

WWW.PRI

V

ATEISLANDSINC.COM

A n I ntroduction to Buying P rivate I slands4 I mportant C onsiderations for I sland Buyers6

Finding Your

I sland O nline8 T op P rivate I sland R egions10 R egulatory C onsiderations12

Freehold and

L easehold I slands14 I sland L iving and D evelopment17 A dding Value to Your P rivate I sland18 D eveloping Your T ropical I sland20 N orthern I sland W inters22 O ff the G rid - E co T echnology24 S elling Your I sland27 T he P rivate I sland M arket28 D iscover Your M arket30 I sland M arketplace O verview - M ap32 I slands for S ale C atalog37 PU B

LISHER

P rivate I slands I nc. 67
M c C aul S t. T oronto, O ntario M 5 T 2 W 7 C anada T el: 1-647-477-5581 info@privateislandsinc.com AD V

ERTISING

IN Q

UIRIES

advertising@privateislandsinc.com

© 2014

P rivate I slands M agazine. A ll rights reserved. N o part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, or any other information storage and retrieval system, without the written permission of the publisher. A ll listings subject to errors, omissions, price changes or withdrawal without notice.

Featured on

HGT V"s I sland H unters THE

PREMIER

F IRM F OR PRI V ATE

ISLAND

MAR K ETING AND SALES

WWW.PRI

V

ATEISLANDSINC.COM

WINDOW SHOPPING?

2. i priVate island BuYer's guide 3.

C private island. T his copy of the P rivate I slands" Buyer"s G uide is an invaluable resource that offers you a wealth of information on the most important elements of private island ownership. From your initial search to a few important questions to consider to an overview of island regions through to regulatory consideration and insig hts into developing your island, the P rivate I slands" Buyer"s G uide will help T here"s no question that by deciding to purchase a private island, you are embarking on a unique and potentially life altering adventure. S panning the world, the island market has an amazing variety of properties and offers a wide variety of sizes, styles, climates and locations. For many people, the mere idea of an island - the tangible embodiment of wealt h, status, safety, sovereignty, privacy and freedom - compels and captur es the imagination. O ften this concept can overshadow the qualities that and even the existence of a home. For some prospective islanders, these For most island buyers there are, however, a number of considerations to take into account and questions to ask of yourself before getting you r search underway. I t"s easy to get caught up in the romance of a particular able to devote time to enjoying your island, or spend most of it in the air? A re you looking for a legacy to pass down through your family, or would you consider a (frequently less expensive) leasehold island? A nd are you prepared for the process of building your dream home on a remote piece of land? T he answers to such questions will help you select the right island for you. Buying an island can be a challenge, but of course, that"s part of th e adventure. T here are few types of real estate where, in many cases, you"ll need to allow for several days to view properties in case planes are grounded in stormy weather or transportation is otherwise unavailabl e or inaccessible. W hen considering private islands in foreign countries, you"ve got to make sure you"re dealing with trustworthy, experienc ed real estate brokers and lawyers who have your interests in mind. R esearch is in mind. of time, and may actually become an obsession. T here"s even a term for it - “islomania" - and it is understandably easy to catch. P art of the allure of a private island is the way it requires you to stretch your boundarie s; it requires a special kind of independent, entrepreneurial personality t o follow through and thrive in the island world. A s the saying goes, ‘things worth having in life are rarely simple to obtain", and such things ar e all islands bring a rare kind of pleasure to their owners; not just of posse ssing something truly beautiful and unique, but of knowing that you"re the kind of person capable of attaining it. diamond caY Bay I slands, H onduras

LATITUDE

: 15°51"45.13" N

LONGITUDE

: 87°23"48.94" W O FF ERED AT us$ 650,000 P art of the allure of a private island is the way it requires you to stretch your boundaries

4. I PRIVATE ISLAND BUYER'S GUIDE

INTRODUCTION

5. M ake certain that the time it takes you to get to your island suits your needs and is compatible with the length of your stays. A s a resident of new York, you might fall in love with that remote retreat for an occasional week"s getaway, the you are able to devote a few weeks or a month at a time to your island, it won"t be.

Freehold title, which connotes outright

ownership, is always considered the most desirable way to own an island, but if you"ve got your heart set on an Asian property or relatively not be an option. leasehold properties, where what you are buying is a long-term lease, are often more moderately priced and if care is taken, are a safe way to possess an island for terms varying from about 30 to 99 years. T he availability of professional medical care should be a weighty consideration for even healthy individuals, but for those with chronic conditions like heart disease or serious illnesses, it"s important to always have open lines of communications to a close medical clinic or hospital, and ensure that you can be reached on your island in case of emergencies. T he importance of researching the development potential of your island and investigating the local regulations and construction laws of the host country, cannot be overstated. Because of the unique ecological considerations of islands, there may be restrictions on what and how you can build on the property. I f you plan to turn your island into a rental property or even a small resort, make sure that short-term rentals are legally permitted. R enting your island when not in use can be a great way of off-setting some of your expenses, but may not be allowed in all areas. to appraise due to a general lack of comparable properties - it"s entirely possible that a similar private island sale will not have happened in the area in the recent past, and there may not be a similar island on the market. T ime spent up for sale isn"t a benchmark with islands, due to the rarity of buyers. W hat it comes down to, inevitably, is what is the island worth to you?

You love the perfect beaches and stunning

ocean view on the island, but what about the neighbourhood? O n an isolated piece of land that may be far from help in a crisis, you want to make sure you feel comfortable and secure with the general area. A nd you won"t always feel like secluding yourself - will you like the dining, shopping, and social scene? A basic point that may often be overlooked by those in love with the ideal - rather than the realty - of an island region. T hat rustic and remote northern cottage may look picturesque, but will you be happy with a property inaccessible during the winter months? T ropical islands are beautiful and exotic, but are you prepared to battle humidity, scorching heat and the insects that come with life around the equator? I nventory of islands are naturally limited, so ensuring that you have the largest amount of islands available to compare will help you to determine the most appropriate island as wel l as guide your expectations. T he P

rivate Islands Online marketplace website is an invaluable resource as it showcases the largest number

of islands available for sale in the world. T he island properties showcased on private islands online are either dire ctly marketed by P rivate I slands I

nc, the island"s owner or the island"s appointed representative. This means when you inquire through our

website, you"re questions will be answered by the most informed and a ppropriately motivated person.

Finally, it is important to note that as many as 25% of island owners prefer not to advertise on the internet

and some choose to market their island solely in P rivate I slands M agazine, making our publication another important resource for your island search. For access to islands not available on the internet or our magazine, ple ase contact us directly as we also offer discreet referrals and private methods of uniting buyers and sellers.

THINGS TO CONSIDER

7.6. i priVate island BuYer's guide

9. elequotesdbs_dbs10.pdfusesText_16

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