Demand surges for private hideaways even as global economy goes into a deep recession

With its pristine beaches, coral reefs and 32 acres of lush tropical gardens, Fiji’s Mai Island could be the perfect place to hunker down and see out the coronavirus pandemic. And for a few million dollars it could be yours. The island, which has previously been on the market for just over $4m, is one of a host of offshore retreats being marketed to the super-rich as ideal spots to escape the ravages of Covid-19.

The South Pacific, Caribbean and remote parts of the US and Europe are among the most popular destinations, according to real estate agents who are rushing to tap the surge in demand for private hideaways even as the world economy goes into a deep recession. Trayor Lesnock, founder of Platinum Luxury Auctions, which is conducting the online sale of Mai Island on Saturday, said the pandemic had led people to reassess their lives and pursue the things they had fantasised about but always held off from doing.

“Owning an island has long been considered cool and desirable but it’s often been a whimsical dream,” he said. “But with Covid-19 it’s starting to look a lot more practical, as people rush to find private spaces for themselves and keep a distance from others.”

Read the full article by Jamie Smythe at the Financial Times HERE.