Islands you can own for less than a flat in Sydney

WHY travel when you could live at this island paradise? It costs less than a one-bedroom apartment in Sydney.

Plitvice Island in Croatia costs just $523,000. That’s around what you can expect for one-bedroom apartment in Surry Hills in Sydney. Picture: Private Islands Online

OWNING your very own island paradise might not be such a far-fetched dream.

There are plenty of islands around the world up for sale — and many of them are priced at less than a one-bedder in Sydney.

That’s right — quiet, tropical island oases can be cheaper than a tiny apartment in Sydney.

They can all be found on Private Islands Online, which lets dreamers and prospective buyers check out freehold islands around the world.

While most of these islands are priced into the many millions, there is a huge number up for grabs for less than $575,000, which is the median price for a unit in Sydney, according to the most recent Australian Housing Market Report by RP Data.

Even more can be bought for less than $750,000, which is Sydney’s current median house price.

And quite a few of these islands are relatively close to home.

The island of Tahifehifa, in Tonga’s Vava’u island group, will set you back just $446,000.

Picture-perfect Tahifehifa in Tonga. Picture: Private Islands Online

Ahe Atoll Motu costs less than a house in the suburbs. Picture: Private Islands Online

The lush, undeveloped island sits in an area popular with cruising yachts and is close to Tonga’s prime whale-watching areas. It’s home to the small, quaint town of Neiafu, which has its own natural harbour.

If you’re prepared to pay a little more than the median price of a Sydney home, the island of Ahe Atoll Motu in French Polynesia, a favourite location for the famous seafarer Bernard Moitessier, costs $861,000.

L’Amour Island, a heart-shaped coral island off the mainland of Malekula in Vanuatu, is priced at $850,000 — the same as a one-bedroom, one-bathroom house in inner-Sydney Darlinghurst.

Even bigger bargains can be found further afield.

It won’t buy you the whole thing, but $168,000 can buy you a sizeable chunk of Mavuva Island in Fiji. Picture: Private Islands Online

Vanuatu’s heart-shaped island is known as L’Amour Island to locals. Picture: Private Islands Online

And if you’re not up to the responsibility of an entire island to yourself, lots on Mavuva Island in Fiji’s Great Sea Reef are going for $168,000 a pop.

But some of the biggest bargains can be found further afield.

Pearl Island, a developed, private island in Canada’s Ontario region, is just $242,00. The rocky island comes with a cabin and newly renovated two-bedroom cottage — which includes high-speed internet — plus magnificent views of the picturesque Georgian Bay.

Also in Canada, Echo Island — a two-hectacre island in Nova Scotia — is going for just $168,000. The island, which features a lush forest, comes with a small cabin.

Pearl Island comes complete with a cabin and cottage. Picture: Private Islands Online

Mexico’s pretty Isla Esmerelda. Picture: Private Islands Online

Just 15 minutes by boat from the Belize mainland sits the island of Lark Caye, which costs $235,000. The island is undeveloped but its coral reefs make it perfect for snorkelling.

A cheeky $195,000 will buy you Isla Esmerelda, a non-developed island in Mexico just a three-hour drive from the Texas border.

There’s plenty up for grabs in Europe, too: Bushy Island, in County Clare in Ireland, costs $299,000 and Plitvice Island in Croatia is $523,000.

But if you’re really considering buying an island, you’ll need to do a lot of research — especially for those cheaper islands, which are generally underdeveloped.

Lark Caye is close to the mainland of Belize. Picture: Private Islands Online

The lovely Bushy Island is on Lough Derg Lake, County Clare. Picture: Private Islands Online

“Permits are a really important thing to consider,” Private Islands Online chief executive Chris Krolow told Yahoo Travel.

“Make sure you can legally build whatever you have envisioned for your undeveloped island before making the purchase.

“Environmental laws differ from region to region. For example, Greek islands require a lot of permits to build, and islands in Ontario can’t be built on if they’re less than an acre in size. “Building on an island from the ground up can be costly.”

If it sounds like too much hard work, there’s still time to grab $66 ticket in Australian couple Doug and Sally Beitz’s Micronesian island resort raffle.