Best area for investment

[MortenT]

I am looking to buy an island in the near future, maybe 1-2 years from now, and I have started my search and gathering information now.

What I am looking into, is the best area of investment could be, I have looked into the Phillipines, but any helpful hints and facts would be greatly appreciated!

Thanks!

[strange magic]

the philippines has beautiful and magnificent islands, but their system of ownership is different than the US or Canada. i don't personally understand how it works, but i think you have to be careful in that region.

[MortenT]

Yes, they do have a bit complicated system, foreign owners are not allowed to own any land in PH, but there are ways around that.
Also, there are very few islands that has a title, most for sale are tax declaration only, and theoretically if you own a tax declared island, a local filipino might lay a claim to you island, although I have not heard of that happening anywhere.
Anybody else has anything to say?

I am looking to buy an island below 200k$, and I am looking into it as mainly as an investment, but also because I am an island lover, and I have spent most of my life on an island in Norway and love it!!

[Guest]

I ran a business 5 years in the Philippines, but sadly my ex-partner embezzled $500,000 from clients, who I am now working with to help them regain. So be very carefull about who you deal with!!

[islandjoe]

well ,..first,try to find any "freehold" property...........there might be some islands in fiji,.and there title system is great if you can find any land,..Is it an island you want ? or is location the real issue,.for there are islands in places like canada,,but it gets cold in winter,......Hi, I just joined today,...Islandjoe

[bobmarleyfan]

May I ask if you are buying an island to live on?

[MortenT]

Thanks for the replies!

I am would like to buy an Island for mainly investment reasons, but I am as everyone else on this forum an island freak and I would LOVE to live on an island for a while.

I would probably use it as a getaway mostly.

I am looking into the phillipines, and I am actually trying to get a job there and a citizenship. It is in the future though.

Most islands are out of my price range, but not in the PH, but most islands are not titled there, so you have to be careful!!

[akshayrawat2002]

Hi
I am lookign to start a project to develop a high end resort in the Andaman and Nicobar islands. These are a group of 300+ pristine islands which belong to india situated in the Bay of bengal. Since the last ten years it has been my dream to start something in the form of a high end resort in these islands. Infact the movie Shantaram starring johnny depp and directed by Peter Wier is being shot on these islands. I was the Manager of a resort in these islands and have ample experience in running a resort and also am aware of the groud difficulties in these islands. The government will not sell any island but is willing to offer islands on lease. I know what you all must be thinking.That if these islands are so stunning how come noone has heard of them? Well people have not visited these islands but now the government is promoting these islands big time. Infact a beach on Havelock island was voted by TIME magazine as the mst beautiful beach in Asia. I can go on and on as to why these islands are so unique. Infact did you know that these islands have elephants that swim from one island to another...yes Swim!!
I have tons of pictures if anyone would like to see them also if anyone would like to join this venture do let me know.

[Renee Redmond]

Andaman and Nicobar Islands -- a grim reminder of the horrific aspects of the British rule of India -- are a group of 321 tropical islands in the Bay of Bengal, 1,200km east of the Indian mainland. They are now a tourists' paradise.

The area of the Andamans is 6,408 sq km and that of the Nicobars is about 1,645 sq km. Port Blair is the capital of this Union Territory (as opposed to state) of India.

The Andamans and the Nicobars have a collective population of about 300,000, most of them concentrated in or around Port Blair.

These islands were discovered by Arab merchants in the 9th century. The first western visitor there was Marco Polo. The islands were annexed by the Marathas in the late 17th century, then by the British in the 19th century, by the Japanese during World War II, and incorporated into the Indian union in 1947 when the British rule of India ended.

These islands were the venue of some of the most horrific excesses of the British rule of India. Freedom fighters on the mainland were "deported" to these islands, and many of them never seen again. They either died there of natural causes or as a result of excessively hard labour or were executed with, or without, court sentences. Many died in years of solitary confinement in absolute darkness. Torture cells, hard labour camps and gallows were plenty. They are still to be seen there today. It remains amazing how senior government officials of a country of the United Kingdom's standing could unleash such terror on freedom fighters. This is is not ancient history, but modern history -- which ended on August 15, 1947.

The Cellular Jail in Port Blair where most of such barbarism was practised by the British is now one of India's declared National Monuments, a salute to those noble human beings who had only asked for freedom from foreign rule.

Today, these islands are often called Emerald Isles. Golden white crescent shaped beaches, mangrove forests, rich marine life, exotic flora and fauna, are the main non-historical attractions.

About 86% of the total area is reserved and protected forest area and 36% of the reserved forest has been earmarked as primitive tribal reserve. Contact with the local tribals is restricted.

Port Blair is accessible by sea and air. It takes three days by sea and two hours by air.

There are number of government guest houses, two tourist homes, and a circuit house. Besides, there are number of resorts, cottages, and hotels run by private sector. Many travel agencies in the Indian metropolitan cities offer Andaman and Nicobar holiday packages.

[islandstudent]

Private islands a top target for investors
Billions of euros expected to be spent over the next few years in building resorts or sanctuaries for tycoons

Photo: Patroklos, a 4-square-kilometer islet off the coast of Attica, in the Saronic Gulf, is considered prime real estate by prospective investors. The son of former Israeli prime minister Ariel Sharon was involved in a controversial bid.

By Nikos Roussanoglou - Kathimerini

The purchase of one of the 60 private islands in Greece has become a particularly attractive proposition for tycoons and business groups thanks to the high cash flows they have enjoyed in the last few years.

Shipowners, entrepreneurs and mainly funds from abroad – such as Cyprus or the Middle East where the rise of oil prices has allowed for a great flow of capital – are the primary so-called island-hunters, who want to turn them into a “private paradise” or to realize tourism-related or real estate developments. In their frequent visits to Greece, foreign entrepreneurs usually talk about their investment interest in real estate and tourism – something which remains a relatively untapped source in this country.

The owners of those islands have by now realized the value of their assets and are rushing to make the most of them in the best possible way. One of the moves recorded a few months ago was the acquisition of Skyropoula, an islet of 4 square kilometers next to Skyros in the northern Aegean.

Sources suggest that the island was sold for 6 million euros by the Antoniadis family to one or more members of the Haji-Ioannou shipping family, whose best-known member is Stelios, the founder of easyGroup (which includes easyJet and easyCruise). Another recent purchase was that of the islet Kythro, near Lefkada. It is reported that Kythro, which measures 0.8 square kilometers, has cost an unnamed Greek investor some –2.5 million.

These are cases of private investments which will only be used by the islands’ new owners. Yet the island market has a far greater appeal if it involves the islands being developed for tourism with the construction of holiday housing complexes.

Such is the case of the 0.5-square kilometer island of Alatas in the Pagasitikos Gulf, near Volos. Reports suggest that the island has been leased for the next 50 years by United Five Development of Cyprus, which is expected to invest more than –50 million. These funds concern the construction of major hotel units of 900 beds, complete with restaurants, recreation facilities, tennis courts and swimming pools.

There are similar plans for Arkoudi island, in the Ionian north of Cephalonia. A –100 million investment that will create 300 jobs is in the works. The project will cover 4 square kilometers comprising 140 super-luxury accommodation units, a marina, a spa center and an 18-hole golf course as well as many other sports facilities. Entrepreneur Giorgos Stavropoulos is in charge of this tourism investment. This is one of the most important developing projects in Greece, as it will create an all-new destination for tourism.

Another island sold is Drymos, acquired by a group of British investors involved in property development. The purchase of the Cycladic island, which measures 3 square kilometers, is estimated to have cost –4.2 million.

Yet the island which generates perhaps the greatest investment interest is Patroklos, off the Attica coast in the Saronic Gulf. The position of the island, owned by the Giatrakos family of lawyers, and its size of 4.2 square kilometers, have attracted investors’ attention as it has the potential to be turned into a fine tourism resort. Israelis, including the son of former prime minister Ariel Sharon, had been involved in its possible purchase, although the deal has now definitely been abandoned and interest is turning to a foreign tourism group.

Experts believe the price tag on the island is expected to exceed –100 million, as its distance of just 850 meters from the Attica coast renders it a highly attractive destination and appropriate for developing a luxurious holiday resort as well as a marina.

Key factors

Real estate experts argue that the price of every island depends on a variety of factors. The closer it is to the mainland, the more its price rises, as access to it becomes easier. No private island has infrastructure such as public utility connections (power, water, telephone), making it more important for an island to be near the mainland.

Other important factors include whether an island has underground water reserves to be drilled, beach potential or any natural harbors that can be approached by vessels.

But the main factor is whether an island has the essential documents so as to be transferred. These documents need a lot of time and maneuvering through the ministries of National Defense, Environment and Culture before they are issued. Every island sale requires an opinion by the Archaeological Service confirming the non-existence of antiquities and by the Forest Service about the non-registering of the island as forestland. It also requires a certificate from the National Defense and the Merchant Marine ministries (via the Greek navy) attesting that the island in question is not under any national security restrictions.

Consequently there are difficulties in the transferring of private islands near Turkey, as well as the Echinades islands in the Ionian Sea, since the latter area has entered the Natura 2000, a European Union program, according to which certain areas are protected and no access to them is allowed. All those documents may well require up to 12 months before they are issued.

More confusing is the inclusion of all Greek islands in the border regions. This means that the state maintains its right to repurchase each island if it so wishes and if the private status of the island is clear. If an island changes hands, the state can still repossess it from its next owner within one year.

Current owners

Most of the owners of islands who have now put them on sale have inherited them from their ancestors, who in turn acquired them straight after the Turkish occupation, in the 19th century. As a result, many owners have had to take matters to the Supreme Court in order to claim them. Most of the owners have been granted a decision which gave them the title deeds. In any case, anyone interested in buying an island must be extremely careful with the title deeds and the accompanying documents. Most islands for sale have the full set of required documents.

Over the years, several Greeks bought an island mostly for their own private use, such as well-known Skorpios, which measures 0.8 square kilometers, bought by Aristotle Onassis. Today Skorpios has been completely abandoned, with some rumors circulating about its upcoming sale by Athina Onassis, the tycoon’s granddaughter, although this has been officially denied.

The shipping magnate Stavros Niarchos, Onassis’s biggest rival, also acquired Spetsopoula, southeast of Spetses, in order to host to his important guests. Revmatonissi, off the island of Paros, was purchased by Dolly Goulandris, while shipowner Panayiotis Tsakos bought Atokos island in the Ionian.

Cypriot group ready to invest 2 billion euros on the island of Dokos

One of the recent efforts to purchase a Greek island came from Cypriot group Kerlengou Island Investments Plan Ltd. It concerns the uninhabited island of Dokos, which measures 12 square kilometers and is located between Hydra and Spetses, just off the eastern coast of the Peloponnese.

Reports from Cyprus suggest that Costas Kerlengos acquired the island on November 17, following a private auction by the Livanos family, the island’s previous owner. Dokos cost its new owners –180 million.

Kerlengos’s aim is to turn the island into a holiday destination by developing hotel units, housing complexes in the form of villages, as well as isolated luxury houses, investing a total of –2 billion. He also intends to sell up to 12,000 plots of land, starting at –75,000 each.

The first studies regarding the future development of the island have already started. Due to the existence of many antiquities, the Kerlengos group can only use 7 square kilometers of Dokos, as the rest must remain undeveloped. Kerlengos stated that interest has already come from parties in Greece, Cyprus and the Middle East, and that he has lined up a Greek architectural firm to assist with the development. Construction is due to begin in early 2008.
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No man is an island who owns one

[bob@maraupeninsula.com]

I've lived on 5 Hawaiian islands and Australia. But I'd check Brazil, where I live on one now. Nearly one, a remote Peninsula, access by land difficult.

Lots of islands, no tidal waves, hurricanes, great culture, non aggressive people. Currently not as inexpensive as it was, but the dollar buys less and less everywhere these days. In the south of Bahia where we live, a perfect climate. Normally 20 - 30 degrees celsus. (70's and 80's F.)

Good luck with the search. One of the best parts!
Bob
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