….Private island ownership really isn't limited to the moguls and magnates among us. Enter Farhad Vladi, the forerunner in the island real-estate market, who makes a living out of making the dream of buying your own island real. At 26, Vladi was reading a newspaper when he came across an article that described -what was involved in owning an island. He decided on the spot that dealing in islands was the business for him. Soon after, Vladi brokered his first island deal for Cousine Island, in the Seychelles. (That island now has a luxury resort, and is also where Paul McCartney and Heather Mills relaxed on their honeymoon in 2002.) That first endeavour was enough to get him hooked on islands, and it led him to create Vladi Private Islands, an island real-estate company with offices in Canada, Germany and New Zealand.
Like Dr. Kinay (owner of Dellis Cay) , he started his business as a sideline. "It didn't start out as a serious business, but more as a hobby, says Vladi. ''Then 1 started helping friends buy islands. Five years later, and after selling the 10th property, 1 realized there was a business there. It was an untapped market, so 1 started specializing in it." That was more than 30 years ago. Since then, he's sold more than 2,100 properties-currently averaging about 30 islands each year.
It’s not unusual for this island aficionado to spend four or five months scouring the world for the perfect piece of land, one he feels his clients, whom he describes as smart, down-to-earth and nature-oriented, will want. "Most popular right now is the Bahamas, because of accessibility and because they're beautiful properties," says Vladi. "And western Europe, because they're less available and demand is high." And at the other end of the spectrum? "Least expensive are the Canadian islands, because many properties in the Great Lakes, Georgian Bay, and Nova Scotia are obtainable."
For Vladi and Dr. Kinay, business is booming. Both work with similar goals in mind: fulfilling a visual dream, with breathtaking scenery along the way.
"If' I fall in love with an island, I know I can sell it," Vladi says.
THE ESSENTIALS OF BUYING AN ISLAND
According to Farhad Vladi, prospective buyers should be aware of several important elements:
- lt is essential to purchase from a licensed real-estate agent who knows about ownership, permits and registry.
- Some islands are government-owned and only lease the property to you for between 50 and 100 years.
- The island needs to be suitable for development, and have drinkable water and healthy Vegetation.
- A hospital needs to be within 90 minutes.
- The island should be in a high-quality, politically stable environment with good weather conditions.
Weather and likelihood of natural disasters are big considerations. "Something prone to earthquakes or hurricanes is a mistake. The colder the climate, the cheaper the price," Vladi advises. 'Don’t buy an island from a photo. You can't smell the air or see the water or understand what kind of animals and insects live there."
Another tip: if you see a property that someone owns with no house on it, that's a sign that something might be wrong. "I know someone who bought an island near a nuclear power station, and it was totally unsellable," he says.
For those intrigued but not ready to commit, consider renting. That way, you'll have the experience and also know what you like and don't like when you're ready to purchase your personal piece of paradise.
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