Private Islands That You Can Actually Own (The Cheapest Is Only $405 An Acre)

Young woman sunbathing on private island — Sunbathing on your own slice of paradise

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For anyone who dreams of quitting their job and living in paradise, there’s no fantasy more enticing than the idea of owning your own private island. And according to Official eTA, an online visa application and assistance processing firm, it’s possible—even if you’re not a millionaire. Using data from two private island real estate sites, vladi-private-islands.de and privateislandsonline.com, Official eTA analyzed over 550 islands for sale around the world, then calculated the average cost per acre to determine the least expensive locations around the globe. And according to the study, your own private paradise might be more in reach than you think.

“Our research reveals that a slice of your own paradise doesn’t have to cost a fortune,” says Jayne Forrester, director of international development at Official eTA. “Acquiring your own island gives you the opportunity to build your own personal kingdom—a dream which is more achievable than anticipated.”

Indeed, buying a private island is no longer just something for the rich and famous: The research shows that some islands cost less than a house. Today, the median home listing price in the US is around $245,000, according to Zillow. Sure, private islands that have luxury villas, private beaches and stunning views are expensive, but you can buy the 2.7-acre Round Island in Nova Scotia—in the waters of Lac d’en Bas—for a mere $58,647, while Half Island in Cape Breton, Nova Scotia, goes for the $59,024 and includes an Airstream camper shell in the purchase price. Located halfway between New York City and Albany along the Hudson River, the wooded Naomi Island costs $99,000 and is reachable only by boat.

Using the findings, Official eTA also broke the islands down by per-acre cost and crafted a tool (The Price Of Paradise) that can help you find out exactly how much your dream island would set you back. According to Official eTA, the cheapest continent to purchase an island is South America, where the average cost per acre is $1,147. There, the least expensive location (Chile) costs $405 an acre, while private islands Argentina can be picked up for as little as $867 per acre. That’s less than the equivalent of just one week’s work for the average American worker who earns $936 a week.

Islands in the Oceania region are more expensive at $18,537 on average per acre, while they are $23,516 on average per acre in North America. Europe ranks as the second most expensive continent to purchase a private island, with the average cost per acre over $68,000. The most expensive place to own a private island is in Asia, where islands average over $313,765 an acre.

“Some private islands are cheaper than others due to location and accessibility,” says Forrester. “For example, some islands may be so far away from mainland society that it’s too much hassle to transport materials to build a house to live and holiday in, let alone regular food imports.”

Why is buying a private island so appealing? “We live in a society that is switched on 24/7—we have iPhones, laptops and iPads that mean we’re constantly contactable,” says Forrester. “Therefore, owning a private island may be appealing because it’s completely secluded from society.”

However, there’s one downside: With such an array of secluded islands to choose from, picking the perfect place makes for a challenging task. You can view all of Official eTA’s data here or read on to find out the five cheapest islands around the world, based on the cost per acre, as well as the five cheapest islands, based on the entire selling price, plus five other private-island opportunities.