Private Islands a Little Cheaper
July 10th, 2009
Jason Notte of TheStreet.com reports that the economic crisis is driving down the cost of private islands.
Alexis Pappas of the island real estate firm Private Islands reports that many islands have dropped by half in price. Granted, it’s still not bargain basement time: while the owners of 4.4-acre Monarch Caye off Belize asked for $5 million, they still got $1 million for the island. And, while the Onassis family didn’t get $21 million for Nafiska Island, they are still asking $10 million.