Do you find the idea of owning a private island intriguing? This luxury may not be as out of reach as you assumed. There is a wide range of listings for private islands, making it easier than you may have thought to find an investment that matches your budget.
The pandemic fuelled the demand for private island ownership with no signs of a slow-down. Purchasing a private island in The Bahamas is a straightforward process. Islands here that are purchased for private use are treated nearly the same as purchasing a home. If you are interested in a commercial property, you will need government approval, but around 80 percent of island purchases in The Bahamas are by private owners.
Why Own a Private Island?
Investing in island real estate offers many benefits. Of course, the first that comes to mind is the privacy you enjoy as the owner of an island. When you own your own private island, you decide who has access and when. Maybe you allow others to rent space or maybe not, but the decision is yours.
The decision of purchasing an undeveloped island or one which is already developed is up to you. The advantage of purchasing undeveloped island real estate means that you can design the property exactly as you want. Of course, you will also need to be patient through the construction process.
If you want an island property you can begin to enjoy immediately, you may prefer a developed island. There are many turnkey properties available that allow you to visit right away. You can spend time at your new paradise outpost before making any renovation decisions.
Luxury Assets
Owning a private island is owning a luxury asset. If you are interested in private island ownership, The Bahamas has an abundance of choices. Whether you want an uninhabited strip of land, a private island that already has a house in place or ownership in a community on an existing private island, you will find something to meet your needs.
When considering the financial aspects of private island ownership, the most affordable will be uninhabited islands, while the most valuable will be a private island with existing buildings and an air strip for easy access.
Is Owning a Private Island a Sound Investment?
Adding a private island as part of your investment portfolio can be a savvy move. If you currently own a private yacht or jet, you probably realize these items depreciate each year. The jump in demand for private islands that occurred early in the pandemic has only increased awareness of private islands as an asset that increases in value.
With some economic uncertainty looming, real estate investment is a smart choice. Real estate generally rebounds quickly, and, in the case of private islands, limited supply means prices will only go up.
Whether you are interested in a private island as purely recreational, as an investment property, or something in-between, get in touch. We would love to hear what you have in mind and show you some of the options available. Island real estate is becoming increasingly popular, and there has never been a better time to invest.
