They’re cheaper than the average cost of a London flat…
If winter in London is feeling never-ending, there’s always the option to decamp somewhere else entirely. These private islands cost less than the average London flat.
A new study conducted by Slingo has revealed the ten most affordable private islands in the world, with the cheapest coming in at £70.829 for a 4,047 metre squared island in Nicaragua.
Islands in Canada, the US and Belize all feature in the top ten, but here’s a closer look at Lac Lesage in Canada, which is for sale for £287,251 for 4,047 square metres and came fifth in the leaderboard.
On sale via Private Islands Online, the description reads: “This exclusive offering is located in the heart of the Laurentian Mountains and is less than 40 minutes from the world renown Mont-Tremblant vacation resort and the Mont-Tremblant International Airport.
“The water quality is crystal clean and pristine, making swimming and all water activities that much more pleasurable. It’s the most southerly wildlife reserve in Québec and is rich in diverse vegetation, wildlife observation, and offers great spots for outdoor activities such as hunting and fishing. It’s home to large white-tailed deer, moose, and beaver populations.”
To put that into context, According to Statista, the cheapest borough to buy a London flat is in Tower Halmets, where the average flat price is £451, 219.
La Cornelia in Nicaragua was awarded the most affordable island. It is one of 365 islands in Lake Nicaragua, and has electricity and the potential for development. Gillis and Calf islands in Canada got the second and third spots.
Here are the top ten private islands cheaper than a London flat:
RankIsland nameLocation Price (GBP)Size (Sq Meter)1La Cornelia IslandNicaragua£70,8294,0472Gillis Island Canada£86,56944,5173Calf IslandCanada£131,016105,2224MacLellans Island Canada£169,20360,7055The Island of Lac LesageCanada£287,2514,0476The Enclave at Placencia Caye Belize£292,7608,0947Greer Island Maine, US£310,86120,2358Sweetheart IslandFlorida, US£314,0088,0948The Carolina CayesNorth Carolina, US£326,9451,036,03210Ile FraserCanada£326,9454,047
Slingo explained how they collated the top ten: “We started by taking down the acre, price, region and name of each available private island on Private Islands Online. This was completed on (27/06/2023). We only included private islands with listed prices.
“We then calculated the average price of each island (in GBP, which was converted from USD using Google Finance on 28/06/2023 at 11:20 am BST). We then calculated the average size of the islands as metres squared. This allowed us to find out which regions with at least two available private islands had the least and most affordable private island prices. For this section, we did not include regions with fewer than two private islands.
“We then used the UK House Price Index: data downloads April 2023, to get the average price of a house in the UK. And then an ONS resource: House prices: how much does one square metre cost in your area? to get the average UK house size in metres squared (90). This allowed us to calculate both the average cost of a private island and a UK house per metre squared, and then calculate the price difference between the two.”
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