Laura Coventry takes a look at the booming market in private islands.
IMAGINE escaping to a remote private island. It’s the ultimate get-away-from-it-all. Now imagine owning it! But do we have to win the lottery to be able to afford a private island?
Probably not, if these latest listings are anything togoby...
A study has revealed that some of the world’s most affordable islands cost less than you think.
In fact, some are just over £70,000 and, experts say, 75% cheaper than the price of an average home in the UK!
The demand for a more laidback way of life is rising, according to Google Trends.
It found that there has been a 13% increase in the number of people searching “peaceful living” in 2022-2023, compared to the previous year.
For many who desire more peace and want to escape from the stresses of city living, island life is the answer.
Enjoying a slower pace of existence is one main advantage, as well as the all-year-round sunny and warm climate.
Islanders are also more connected to nature and the environment around them, as well as being less stressed.
Professor Margareta James, a psychologist at Harley Street Wellbeing Clinic, said that living remotely or on an island is different to city life and, as such, it requires a different mindset.
“The main challenge is that many love the idea, rather than the reality,” she said.
“There is an enormous sea-change in moving to a remoter way of life.
“An island is quiet, and the pace of life is much slower.
“Everything runs on ‘island time’, as the islanders call it, so you need to revise your time and expand your schedule to accommodate it.
“The silence goes through you if peace and quiet is not something you are used to.”
The team at Slingo investigated the cost and size of private islands for sale, and the results threw up a few surprises.
“The island of La Cornelia, in Nicaragua, is the most affordable private island as of 2023,” a spokeswoman at Slingo revealed, “costing £70,829 for the 4,047 metre squared island.
“The island is part of the Las Isletas de Granada, a group of 365 small islands in Lake Nicaragua, just south-east of Granada.
“The island already has electricity, despite it being undeveloped, and is rich with palm and mango trees.
“The second most affordable private island in the world is Gillis Island, in Canada, costing £86,569
