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Buy
an island - 16th November 2008
(Credit:
NineMSN - media pitch by Mediaman)
Buy an island
Owning
your own island is pretty common for rich celebrities,
but did you know that you can purchase your own
private island from as little as $82,000?
We
spoke with an international property broker, to
learn more about buying your own patch of paradise.
Buying
an island is a unique investment, according to
real estate broker Cheyenne Morrison. The Australian-born
broker's company, Coldwell Banker, has more than
200 islands currently listed for sale worth over
$1.6 billion.
"It's
like having your own private kingdom," Mr
Morrison said. "Celebrities and CEO's are
attracted to islands not just for the privacy
but for the prestige owning your own island gives
you."
"An
island offers absolute privacy because it is surrounded
by water, and in a recent case in Britain Elle
McPherson won a judgement against a magazine for
invading her privacy because she was on the 'private'
island of Mustique in the Caribbean."
"But
not only are they guaranteed paparazzi free, but
they are also one of the fastest appreciating
forms of property investment, and 100% per annum
increase in price is not uncommon," he said.
For
many of us owning an island in the sun is the
stuff dreams are made of, but it won't necessarily
cost you an arm and a leg to invest in this kind
of property.
"$82,000
is my cheapest island at present, but you can
get ones even cheaper if you keep an eye on the
market," said Mr Morrison. "I do know
of some as low as $20,000 but they are just rocks."
Not
all islands come at bargain basement prices.
"I
currently have the world most expensive 'private'
island for sale in Belize in Central America,
it has a resort and an 18 hole golf course. The
perfect Xmas present for the billionaire who 'almost'
has everything."
Things
to keep in mind about purchasing an island
# Getting there: Even mega rich celebrities such
as Mel Gibson need to hire a plane or boat to
get to their island. Assess how easy the land
is to access and how much it would costs you to
get there and back.
# Hidden fees and charges: Do you need to pay
extra taxes or fees for the purchase? If you are
buying an island outside of Australian waters,
you may well be up for all kinds of taxes and
other charges. Similarly, if you decide you want
to build or develop the land, you may need to
pay large sums of money as part of the approval
process.
# Paper work and insurance: Ask the broker or
agent about the paperwork that may be involved
in the purchase. This also applies for any building
or development you may want to do on the land.
Find out more about how many forms are involved
and how long the local authorities normally take
to process the paperwork.
Profiles
Islands
Cheyenne
Morrison
Luxury
Real Estate
Mediaman successfully pitched Cheyenne
Morrison to Network Nine 'Today'
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