Your island for under US$1 million

BELIEVE it or not: you don’t need to own a hedge fund to buy your own island. There are many of these land masses around the world selling for below US$1 million (RM4.37 million). In fact, some of these islands are cheaper than some apartments in Malaysia.

Some of these islands already have some form of development and come with ready built accommodation while others are untouched by man and allow their new owners to create their own dream island.

Private Islands Online is an international real estate online portal which focuses on island properties. It currently lists seven beautiful islands, all tagged below US$1 million.

Twin Sisters Isle

Asking price: C$998,800 

This one-acre freehold island in Huntsville, Canada, boasts 880 feet of shoreline. Built on it is a double-slip boathouse with a custom upper deck perfect for entertaining friends and family. There is also a bunker on the water’s edge that provides ample room for guests.

Isla Esmeralda

Asking price: US$145,000 

This beautiful leasehold and undeveloped island is in Mexico. It measures 3.7 acres and is surrounded by picturesque views, ideal for a resort development or a personal vacation home. It’s considered a good place for fishing buffs, too. There are no major developments on the island; it has just one small house and a boat dock on it.  

Little Island

Asking price: C$103,000

Also known as Jenny island by local residents. This 0.5-acre freehold floating land mass in Ontario, Canada, was a historically significant commercial fishing outport where fishermen and their families would live and work during the entire fishing season. Visitors can access Little Island via nearby Manitoulin island by ferry. There is also a small airport located on Manitoulin.

Secret Island

Asking price: C$399,000

Located in Quebec, Canada, this 1.1-acre freehold island on Lake Echo, which nestles at the heart of the forest. It has a Bavarian inspired wooden country cottage that provides its residents a country living experience. The cottage has a rustic interior but is equipped with electricity, a stone fireplace, kitchenette, washer and dryer.

Staff Island

Asking price: £125,000 

Staff Island is a freehold island in Upper Lough Erne, Northern Ireland. At 10.25 acres, it is undeveloped and is a potentially ideal place for adventurous, outdoorsy types.

Sweet Island

Asking price: US$82,900

Located in British Columbia, Canada, Sweet Island is a 3.3-acre freehold island covered in pine and aspen trees. It can be an ideal place for personal or family retreat for boating, swimming and water-skiing during summer, and mushing during winter.

Pink Pearl Island

Asking price: US$500,000 

This beautiful island is surrounded by white sandy beaches and turquoise waters. It is located approximately three miles away from Nicaragua’s Caribbean Coast. At two acres, this freehold island is now being used to operate a tourist diving business. The beach is also a hatchery for turtles during the nesting season.

Do not ask your BFF about the value of your home. Click here at The Edge Reference Price to find out.

This story first appeared in The Edge Property pullout on Nov 13, 2015, which comes with The Edge Financial Daily every Friday. Download The Edge Property here for free.