Owning an island has never been this easy. Asian Property Review examines what to look out for when buying your dream island.
Island buying seems to be the ultimate status symbol among the rich and famous. Award-winning actor, Leonardo DiCaprio, got his 104-acres Blackadore Cay Island for USD1.75 mil. Supermodel, Heidi Klum was recently reportedly showing interest in buying a 3.5-acre Tavern Island just off the coast of Connecticut for USD11 mil. Johnny Depp is a proud owner of a 45-acre tropical island called Little Hall’s Pond Cay in the Caribbean that he purchased for USD3.6 mil.
For some, owning an island serves as nothing more than an ostentatious display of wealth, a symbol of status, privacy and even sovereignty. But for others, owning your own piece of island paradise—even if it starts off as merely a private resort— opens up a world of business opportunities.
Sir Richard Branson incidentally started his road to riches in real estate from an investment into an island back in 1979. The 28-year-old Branson had stumbled upon an opportunity to own one of the British’s Virgin Islands and made a bold decision to purchase it despite not having enough capital. To cut a long story short, within 3 years, and after spending USD10 mil, he built Necker Island, a luxury resort that has become synonymous with so many big Hollywood names. A night at the resort which can accommodate 30 people will set you back USD65,000.