Ultra-wealthy set sights on private islands as they seek isolation to escape Covid-19 ravaging the world

While privacy and exclusivity remain the main criteria, the world’s ultra-wealthy want to be “close but not too close” to a mainland for quick and reliable access to medical facilities in case of an emergency, according to property brokers dealing exclusively in the segment.

Most of the islands sold last year were typically priced in the low millions and close to the mainland, according to Sotheby’s International Realty. The agency sold one island last year, but expects to sell more this year as vaccination programmes are rolled out and travel restrictions are lifted. Sotheby’s currently has over 20 private islands in its portfolio.

“With Covid-19 we definitely found people are looking for multigenerational destinations where they can go with their grandparents, parents and small children and feel safe and be away from Covid-19 or away from the chance of catching it,” said David Forbes, chairman of Savills Private Office, who currently is looking for suitable islands for two clients – one each from Singapore and Europe.

“If somebody becomes unwell and they need to get to a doctor or to a hospital, which is perhaps three miles offshore, and you’re relying on being transported by boat or a helicopter, sometimes that is not possible,” Forbes said. “And if you have an emergency medical situation, then it’s a big problem.”