- Soaring two stories above with wraparound verandahs and spectacular views, Villa Almaviva in St. Vincent & The Grenadines is the hottest private island property for sale through Sotheby’s Concierge Auctions, following two successful private island sales in The Bahamas. Bidding closes December 14.
- Live bidding in New York closes Thursday following successful private island auctions in The Bahamas
- Famed 10,000 sq ft villa estate on private Palm Island for sale via Sotheby’s Concierge Auction
Ever since Robinson Crusoe stranded himself on a deserted island in the South Pacific, the fantasy of escaping to a world free of woe and filled with beauty has captured the imagination. In recent years, the fantasy of private island living has taken on unprecedented momentum with demand re-shaping the high-end real estate market around the world – and nowhere more so than in the Caribbean and Bahamas where one luxurious property called Palm Island in St. Vincent & The Grenadines, on live virtual auction now, is generating more buzz than a hive of bees.
Up for auction is Villa Almaviva, a nine-bedroom, nine-bath, two-storey architectural wonder that seems to be fully anchored in the rock earth and float above the sea and surrounding greens at the same time. Built with thoughtful touches, attention to detail and no expense spared by a Swiss publishing couple who enjoyed it for respites away from a hectic work schedule for three months at a time, the villa features outstretched wings with broad verandahs for spectacular views of nearby islands, including Mustique and Union Island. Each of those islands provides unique cultural opportunities and activities, shopping, historic sites or sightseeing. A separate beach cottage that is part of the estate offers additional accommodations with privacy for guests.
“Far from the rustic, today’s version of private island lifestyle aims to put the finest of everything –endless views, luxurious accommodations, fresh, exquisite dining, boat and boat dockage, high speed internet, personal fitness centers and spas at your fingertips — promising everything minus the extra people,” says Danny Prell, Vice President, Business Development, Sotheby’s Concierge Auctions, the company handling the sale of the most prominent estate on Palm Island.
Says Prell, “Palm Island is a great example of getting away from it all and still having it all.”
Others in the real estate industry agree it is hard to overstate the impact of private islands on the high-net-worth market.
“Every major firm that handles the luxury market has someone who specializes in private islands or an island division,” says Michelle Bellegarde, a broker at Briggs Freeman Sotheby’s International. “Ten years ago, we would never have thought to ask a client if they preferred city, country or private island. This is a new phenomenon but I believe it is here to stay.”
According to both Prell and Bellegarde, COVID-19 helped fuel the skyrocketing interest in a new generation of elite private islands that is reshaping the high-end real estate market.
“Buyers learned that they could work or manage their investments from anywhere in the world so long as they had reliable internet so why not live in a place they loved? It was the seismic shift in real estate that became the largest re-definer of the market in nearly a century, I would say, the biggest influence on change since the move to the suburbs after WW II in the U.S.,” said Prell.
There is never a month, he notes, without a private island listing on Concierge Auctions, the largest real estate auction marketplace with more than 90% market share.
Concierge has handled four private islands through active online bidding in recent months, including two large islands in The Bahamas., Powell Cay, a 293-acre development site in Abaco in the northern Bahamas with the winning bid at $5.768 million, and St. Andrew’s, Little Ragged Island in the southern Bahamas, 730 acres for an undisclosed price. Sales are pending on Water Caye, 500 acres in Belize and on another off the coast of Finland, near Helsinki.
“When clients have choices like Palm Island with Villa Almaviva with more than 10,000 square feet of living space, a separate three-bedroom cottage and car, situated on over an acre of pristine land with the Palm Island Resort and pure sand beaches minutes away, it is easy to understand the appeal. It’s magic.”
