Saturday, August 29, 2020

Is It Time To Buy That Island You've Been Thinking About?

This is a very low-volume market,’ he adds. ‘When you’re talking about property in the
 $50-70 million-plus range, it’s about approaching clients to see if they might be interested.’

From Spear's Magazine:
How the pandemic is piquing UHNW interest in private islands
Safety concerns raised by the pandemic have sent private islands to the top of UHNWs’
shopping lists, writes Catherine Moye
Before the pandemic struck, as Knight Frank’s March 2020 Wealth Report showed, the real estate trend among UHNWs was for investing in wellness. Now Covid-19 has made the highest-rollers’ thoughts travel far beyond spa treatments, towards the isolated allure of desert island life.
Take Little Pipe Cay in the Bahamas. Along with incredible seascapes and pristine sandy beaches, it boasts a nine-bedroom mansion, several hundred feet of dock frontage and a large staff and operations ‘village’ spread over its lush 68 acres.

‘This is one of the most special properties that I’ve been involved with,’ says Edward de Mallet Morgan, a London-based partner at Knight Frank. He is marketing the island for $85 million, and since the crisis more of the ultra-rich have wanted to view it....

Also at Spear's:
Billionaire parents go to war with Le Rosey, the world’s most expensive school