Buying a Private Island In the Bahamas a Real Possibilty?
Friday 19th of August 2011
Private islands have long been the reserve of royalty, movie stars and the super wealthy. However, with house prices across the world having fallen over the last few years, the price of a private island is now within the reach of many of the world’s super rich. And, the hottest spot to buy your own private island at the moment is the Bahamas.
If you want to buy your personal island and property in the Bahamas,however, you should beware that the cost could be significant.
Buy your own private Bahamian island
The desire for no neighbours, cars or people has driven many people to buy their own secluded island property in the Bahamas. Buyers in recent years have included David Copperfield, Brad Pitt and Johnny Depp.
An example of the type of real estate deal you can arrange is to buy one of the Exuma Cays Islands -a 365-island cluster in the Bahamas. Of the 365 islands, 90 per cent are either uninhabitable or protected as part of a 176-square-mile marine park.
Cost of building property in the Bahamas can be high
Building your luxury property in the Bahamas on your private island isn’t without its problems. Constructing a home in the middle of nowhere can take two years on average to complete and requires an awfully large investment.
Materials for building as well as electricity generators, food, water and home furnishings have to be transported from Florida which is over 300 miles away. If you want your luxury home to have electricity then a diesel generator also has to be shipped to your island.
In addition, you will have to consider the cost of building temporary homes for the construction workers and contractors as well as providing food and water.
So, whilst the idea of a luxury home on a private Bahamian island may seem perfect, be prepared to pay as much for the build of your home as you did for your island in the first place.
