Private island

For the television series, see Private Islands (TV series).
A private island with a summer cottage in Finnish Lakeland, Finland.

A private island is a disconnected body of land wholly owned by a single private citizen or corporation. Although this exclusivity gives the owner substantial control over the property, private islands remain under the jurisdiction of national and sometimes local governments.

Ownership

Compared to property on the mainland, an island property has much more restricted access, both by potential trespassers and by the residents, who need to transport all supplies by boat or aircraft. Livestock has often been kept on islands, because an island is a natural enclosure, preventing the escape of cattle and sheep.

There are many thousands of uninhabited islands in the world with potential for commercial development of tourist resorts or private recreational use. Commercial development of uninhabited islands can raise ecological concerns, as many have a fragile environment. Some islands can be bought undeveloped, while others already have roads and/or houses. Islands are also available for rent.[1] Some celebrities have their own private islands.[2]

There are widely varying government policies regarding private islands: for instance, islands off the coast of China, like any other land within the country,[3] cannot be purchased outright, but only leased from the government for a maximum period of 50 years. Virtually all islands in the world are claimed and governed by some national government. That nation's laws apply, and any attempt by the owner to claim sovereignty would generally be unrealistic. Nevertheless, some people still try to set up their own micronations on islands, like real-estate millionaire Michael Oliver's attempt at building a libertarian city-state called the Republic of Minerva in the southern Pacific Ocean.

"Private" islands in the United Kingdom, Brazil, Chile and other countries are not legally entirely private – any foreshore, such as a beach, is owned by the state, and is hence publicly accessible property, despite what the owners of the land on the island may wish to claim. The same applies to freedom to roam in Nordic countries: only the yard of a house and the immediate vicinity is legally protected against trespassing, and the water bodies around the island are freely navigable.

Historically, some cruise lines provided passengers with access to small, undeveloped islands. This led to cruise lines purchasing islands to achieve greater control over them, to improve the quality of experience of their passengers.[4]

Real estate

The real estate market for private islands varies globally. Prices tend to be lower in Nova Scotia, parts of Michigan and Maine, and parts of Central America; and higher in Europe, the Bahamas, and Oceanic countries like French Polynesia.[5] Islands with amenities have higher market value and are not sold as frequently.[6] Some are available for travelers to rent, a trend which increased in the 2000s with economic recession making it more difficult for some owners to maintain them.[7]

In the 2000s, the United States housing bubble increased the cost-per-acre for private islands. The effect was fueled by the advent of the Internet, which provided greater access to island inventories. Conservation groups' efforts to restrict development reduced the supply of private islands in the market, raising prices.[6]

Several Islands on The World archipelago off the coast of Dubai are privately held.

Southeast Asia has numerous islands, with Indonesia being an archipelago of 17,000 islands and the Philippines having around 7,100. Real estate laws restrict foreigners' ability to buy property in the geographical area, and many islands either have unclear ownership rights or are already settled. Private islands that are available in Southeast Asia's real estate market are also prohibitively costly due to being in high demand by hotel developers. Developments address these difficulties by selling private islands that have villas and neighbor islands that have high-end hotels; the proximity keeps costs of habitation down.[8]

Europe has hundreds of thousands of islands many of which are privately owned. With 17,000 islands in Finland, 221,831 islands in Sweden and thousands in Croatia, Europe is increasingly becoming a hotspot for private island holidays.[9] Many islands, although privately owned, are not suitable for development, due to legal and governmental restrictions or due to the physical characteristics of the island.

List of high profile island owners

See also

References

  1. ↑ "Lomahaku". MTV.fi. Retrieved 2014-01-15.
  2. 1 2 3 4 5 6 7 8 "Celebrities Who Own Private Islands!". Directory Journal. Retrieved 2010-07-18.
  3. ↑ https://www.loc.gov/law/help/real-property-law/china.php
  4. ↑ Selinsky, Debbie (March 1996). "'Private' Island?". Cruise Travel. ISSN 0199-5111.
  5. ↑ Kolesnikov-Jessop, Sonia (November 1, 2008). "An Island of One's Own". Newsweek.
  6. 1 2 Marino, Vivian (September 25, 2005). "The Allure of Buying Your Own Private Island". The New York Times.
  7. ↑ Vatner, Jonathan (January 3, 2010). "Island Hopping to Your Own Island". The New York Times.
  8. ↑ McMillan, Alex Frew (November 25, 2008). "Buying a private piece of paradise". The New York Times.
  9. ↑ "Visiwa Private Islands for rent in Europe – Island Holiday". Visiwa. Archived from the original on 2014-01-16. Retrieved 2014-01-15.
  10. ↑ "Makepeace Island Noosa, Luxury Accommodation, Private Island Noosa". Makepeace Island. Retrieved 15 January 2014.
  11. ↑ "Australia: Richard Branson opens new Makepeace Island luxury resort to the public". Privateislandnews.com. 13 July 2011. Retrieved 19 August 2013.
  12. ↑ "Musha Cay". Musha Cay. Retrieved 15 January 2014.
  13. ↑ "Leonardo DiCaprio – Blackadore Cay, Belize | Private Islands Magazine". Privateislandsmag.com. 12 September 2008. Retrieved 19 August 2013.
  14. ↑ "Celine Dion – Île Gagnon, Quebec | Private Islands Magazine". Privateislandsmag.com. 12 September 2008. Retrieved 19 August 2013.
  15. ↑ "Nick Hexum 311 – Melody Key, Florida | Private Islands Magazine". Privateislandsmag.com. 12 August 2008. Retrieved 19 August 2013.
  16. ↑ "John Lennon's Irish "Beatle Island" | Private Islands Magazine". Privateislandsmag.com. 23 October 2008. Retrieved 19 August 2013.
  17. ↑ "Ricky Martin– Island in Angra dos Reis, Brazil | Private Islands Magazine". Privateislandsmag.com. 11 September 2008. Retrieved 19 August 2013.
  18. ↑ "Eddie Murphy – Rooster Cay, Bahamas | Private Islands Magazine". Privateislandsmag.com. 12 September 2008. Retrieved 19 August 2013.
  19. ↑ "Peter Nygard– Nygard Cay, Bahamas | Private Islands Magazine". Privateislandsmag.com. 11 September 2008. Retrieved 19 August 2013.
  20. ↑ "Aristotle Onassis – Skorpios Island, Greece | Private Islands Magazine". Privateislandsmag.com. 10 September 2008. Retrieved 19 August 2013.
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