A few decades ago, a proposal to buy an island in the ocean would have caused, at best, bewilderment. Now such a formulation of the question no longer surprises anyone, and everyone who has sufficient funds can become the owners of this kind of real estate.
The price range for the islands sold is quite wide and starts at $ 20,000 for a relatively small piece of land near Canada. The tops for this product category are, for example, the Bahamas, which sell for $ 100 million.
Every year, about three hundred islands appear on sale, located in different parts of the world. The cost of such real estate is determined by its location (in the northern seas it is cheaper than in the southern ones), remoteness from the mainland, climatic conditions and scenic landscape, the degree of land development.
If you want to save money, then the most budgetary option would be to buy an uninhabited island without vegetation and fresh water sources. However, there are some difficulties awaiting those wishing to become island owners. The problem is that the government of many landlocked countries imposes various restrictions on the acquisition of islands by foreigners.
In Greece, there are many restrictions on the development of a purchased island. Local laws stipulate the need for archaeologists to research the acquired land. If during these excavations traces of an ancient civilization on the island are found, any construction on it will be prohibited. Practically the same is the case in Bermuda, the Maldives and the Fiji Islands. But on the coasts of France, Italy and French Polynesia, there are no serious restrictions for buyers of island lands.
The procedure for acquiring ownership of the island differs slightly from the purchase of an apartment. But in some states, permission from the Ministry of Defense is required, in others it is necessary to speak with representatives of the Ministry of Foreign Affairs.
Those wishing to buy an island need to be prepared for additional expenses in addition to the costs of the property itself. They usually represent about 5% of the island's value. This includes payment for the services of a notary, realtor, lawyer, one-time tax on obtaining property rights, etc.
