It’s official: it might actually be cheaper to own a private island than a one-bedroom apartment in Manhattan.
A new report from the real estate consultancy firm Knight Frank has found that owning a private island is actually a more attainable goal than many ever thought possible. Apparently, 65 percent of all private islands are priced below $500,000 and there’s more springing up all the time thanks to volcanic eruptions in Russia, Tonga and Japan. How generous of the earth!
Not to say that UHNWI have totally abandoned their island paradises: the report also found that there’s been a 69 percent rise in flights to island destinations (though most of those are to resort islands, not private ones). Bali, followed by Mustique and Ibiza showed the strongest rise in prices.
For those who aren’t sure what they would do with an entire island to themselves till the end of time, don’t worry, you can also rent one.