Billionaires Scooping up Private Islands

Posted by The Islomaniac® • October 25th, 2010 • Printer-friendly

nsongaisland-1According to the Times of India, in addition luxury yachts, jets and homes, Indian billionaires have started purchasing Caribbean and South Pacific private islands. 

The Times reports that although no one is disclosing the names of buyers yet,   five deals are understood to have been struck from India in recent months. “The trend we have observed is toward an increasing number of interested buyers coming from India. noted Chris Krolow CEO Of Private Islands Inc.,

Krolow also notes that “After the recession, some properties have reduced dramatically, as prices were quite inflated before the recession,” he added. For some islands, there was a reduction in prices of as much as 30-50%, and in some cases owners are willing to negotiate.
I think it’s great the emerging markets are taking a keen interest in private islands. I am sure it will help keep the industry competitive for years to come!

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