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For anyone who dreams of quitting their job and living in paradise, the idea of owning your own private island doesn’t sound like a fantasy. And according to Official eTA, an online visa application and assistance processing firm, it’s possible — even if you’re not a millionaire. Using data from two private island real estate sites, vladi-private-islands.de and privateislandsonline.com, the official eTA analyzed 550 islands for sale worldwide and then calculated the average price per acre to determine the cheapest locations worldwide. . . And according to research, there may be more to your personal paradise than you think.
How Much For An Island
“Our research shows that you don’t need a fortune for a slice of paradise,” says Jane Forrester, International Development Director at Official eTA. “Getting your own island gives you the chance to build your own kingdom – it’s more than expected.”
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Indeed, buying a private island isn’t just for the rich and famous: Research shows that some islands cost less than a house. Today, according to Zillow, the median home listing price in the U.S. is $245,000. Sure, private islands with luxury villas, private beaches, and stunning views are expensive, but you can get a 2.7-acre round island in Nova Scotia—in the waters of Lac d’en Bass—for just $58,647, half of which is an island in Cape Breton, Nova Scotia. Costs $59,024 and includes an Airstream camper shell in the purchase price. Located on the Hudson River between New York City and Albany, wooded Naomi Island is priced at $99,000 and is only accessible by boat.
Using research, the official eTA has ranked islands by price per acre and developed a tool (The Price of Paradise) to help you figure out exactly how much your dream island will set you back. According to official eTA data, the cheapest continent to buy an island is South America, where the average price per acre is $1,147. The cheapest land there (Chile) costs $405 per acre, and Argentina can buy private islands. less than $867 per acre. That’s the equivalent of a week’s worth of work for the average American worker, who earns $936 a week.
Islands in Oceania cost an average of $18,537 per acre, while in North America the average is $23,516 per acre. Europe is the second most expensive continent to buy a private island, with an average price of over $68,000 per acre. The most expensive place to own a private island is in Asia, where the average price of islands is over $313,765.
“Some private islands are cheaper than others because of location and accessibility,” says Forrester. “For example, some islands may be so far from mainland society that the transportation of materials to build residences and vacation homes is too much of a chore, as is the regular importation of foodstuffs.”
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Why is buying a private island so attractive? “We live in a 24/7 society—we have iPhones, laptops, and iPads, so we’re always connected,” says Forrester. “That’s why having a private island can be attractive because it’s completely isolated from society.”
However, there is one downside: with so many isolated islands, choosing the perfect spot can be a difficult task. You can see all the official eTA data here or find the five cheapest islands worldwide based on price per acre, the five cheapest islands based on sales price and five other privately owned islands. island opportunities.
5. Woodland on the Medway River, Nova Scotia: $71,493 for a 77-acre island lot
• “This woman has traveled all over the world. Here’s How He Did It (You Can Too)”How much is a private island worth? If you’ve pondered this question and want to know the cost of islands for sale in the Caribbean as well as Central America, this post offers some helpful insights and answers. designed for.
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Many savvy real estate investors consider a private island to be the perfect investment, affording them unparalleled exclusivity. But how much is the island worth? To answer, the price of an island can vary significantly based on several factors such as its topography, location and development potential. If your focus is on the Caribbean region, the prices of available Caribbean islands for sale can vary considerably. You can get a small island off the coast of Belize for half a million dollars, and you’ll have to shell out tens of millions for larger islands that spread over hundreds of acres in the most popular areas of the Bahamas.
Let’s take a closer look at what private islands cost in some of the most desirable locations in the Caribbean and Central America.
When it comes to buying private islands, perhaps the most popular destination among others is the Bahamas. Made up of 700 islands and cays dotting 100,000 square miles of crystal-clear Atlantic waters, the Bahamas attracts several high-profile investors, including some of the world’s most prosperous musicians and successful actors who decide to buy private islands in the region. . The archipelago’s favorable location – very close to the US and easily accessible via short direct flights from several North American cities – makes it an attractive option for buying a private island. The Bahamas also boasts a mature luxury real estate market, both in general and private islands in particular, with a well-known reputation. Because of all these factors, islands in the Bahamas can be more expensive than Belize. Prices for smaller islands can range from about $1 million to $3 million, while prices for the larger ones (250+ acres) in the most popular locations, such as the Abaco Islands, Exumas, and Berry Islands, can exceed $100,000. 30 million to 75 million dollars.
Belize is a Central American country located between Guatemala to the south and west and Mexico to the north. The country boasts a coastline of 386 kilometers and prides itself on its east coast waters. The Belize Barrier Reef is the second longest barrier reef in the world with over 400 cays and islands forming an integral part of the reef. Several high-end buyers have purchased several of these islands to use as exclusive private island resorts or private vacation homes.
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Due to the availability of such a large number of islands for sale, combined with a less mature real estate market than elsewhere in the Caribbean, island prices in Belize can be lower than in the Bahamas.
For a 0.5 acre to 1 acre undeveloped private island, you’ll need to pay around $500,000. However, larger islands over 60-70 acres can cost anywhere from $10 million to $12 million. Such large private islands often have some level of infrastructure and development, including existing docks, runways, roads and houses.
If you are looking to buy an island that is somewhere between the lowest and highest price range, you will have many options to choose from. Private islands of 2-3 acres, some with cabins and homes, can be yours for around $1 million to $2 million.
Unlike Belize and the Bahamas, Grenada has fewer islands to buy. A handful of private islands on Grenada’s north coast are available for sale, but due to scarcity they command higher prices. A 20-acre island for sale in Grenada can cost around $7 million, while buying a 400-acre island will cost you nearly three times the price of $20 million.
How Much Room For A Kitchen Island
There are a limited number of private islands for sale in several other areas of the Caribbean. For example, in the southern Caribbean, if you’re lucky, you can buy a private island in Curacao. However, it is important to note that in the Dutch Caribbean real estate market, it is not often that you get this opportunity, as islands are not often available for sale. This means you need to keep an eye on the market for rare opportunities to buy a private island in Curaçao or elsewhere in the Caribbean.
Whether you’re planning to buy a small island, a large island, or anything in the Caribbean and Central America, you’ll have plenty of options to choose from. However, keep in mind that each Caribbean region may have its own rules for buying an island. For example, Anguilla and the British Virgin Islands require a special license for non-residents
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