Luxury cars, sprawling estates, private jets - it's a day in the life of your average multi-millionaire. But an exclusive club of celebrities and CEOs are splashing cash on a luxury the average consumer could imagine only in their wildest dreams: their very own private islands.
An increase in high wealth individuals is translating to optimistic real-estate investments in Exuma Cays - a 365-island archipelago in the Bahamas; and David Copperfield, Johnny Depp, Tim McGraw, Bernard Arnault and Tyler Perry are among some of the high-profile residents.
Investible assets were up more than 8.4 per cent from 2009 to 2010, according to the World Wealth Report by Merrill Lynch and Capgemini - even as the U.S. dipped into recession.
But Andrew Welsch, Director of Operations at Private Islands magazine, said for high-net-worth individuals, it's always a buyer's market.
'Islands will always have value in a down-turned economy,' he told MailOnline.
An island in the Exuma Cays typically range between $500,000 to $30million, he said.
And for celebrities seeking a rare moment of privacy, buying an exclusive oasis, even with the exorbitant price-tag, is an attractive option.
Tyler Perry, who purchased a seven-acre island in the Exuma Cays in 2009, was so content with the investment he recently purchased a 25-acre undeveloped island called White Bay Cay, according to the Wall Street Journal.
The director is reportedly building a 14,000-square-foot Balinese-style main house with five to six smaller guest bungalows on the island. There are also plans for a spa, a tennis court and a marina.
Country music stars Tim McGraw and Faith Hill are in the final stages of construction on their 15,000-square-foot, four-bedroom on their 17-acre island, Goat Cay.
The plantation-style home main house will have a lookout tower and will be flanked by three smaller homes for a manager and staff, sources familiar with the construction told the Journal.
They join longtime Exuma Caye resident Johnny Depp, who purchased Little Hall's Pond Cay in 2004, and LVMH Chairman and Chief Executive Bernard Arnault, who also has a home on the Exuma Chain.
In the Southern Bahamas on the Exuma Chain is David Copperfield's 700-acre, 11 island resort Musha Cay, which he purchased for over $50million in 2006. The illusionist reportedly spent an additional $30million renovating facilities on the properties.
An increase in high wealth individuals is translating to optimistic real-estate investments in Exuma Cays - a 365-island archipelago in the Bahamas; and David Copperfield, Johnny Depp, Tim McGraw, Bernard Arnault and Tyler Perry are among some of the high-profile residents.
Could be yours: Children's Bay Cay on the Exuma Chain in the Bahamas, previously owned by heirs to the Johnson & Johnson family fortune, is now on the market for $37.5million
But Andrew Welsch, Director of Operations at Private Islands magazine, said for high-net-worth individuals, it's always a buyer's market.
'Islands will always have value in a down-turned economy,' he told MailOnline.
An island in the Exuma Cays typically range between $500,000 to $30million, he said.
And for celebrities seeking a rare moment of privacy, buying an exclusive oasis, even with the exorbitant price-tag, is an attractive option.
Tyler Perry, who purchased a seven-acre island in the Exuma Cays in 2009, was so content with the investment he recently purchased a 25-acre undeveloped island called White Bay Cay, according to the Wall Street Journal.
The director is reportedly building a 14,000-square-foot Balinese-style main house with five to six smaller guest bungalows on the island. There are also plans for a spa, a tennis court and a marina.
Escape from the spotlight: Faith Hill and Tim McGraw Country are in the final stages of construction on their 15,000-square-foot, four-bedroom on their 17-acre island, Goat Cay
Country music stars Tim McGraw and Faith Hill are in the final stages of construction on their 15,000-square-foot, four-bedroom on their 17-acre island, Goat Cay.
The plantation-style home main house will have a lookout tower and will be flanked by three smaller homes for a manager and staff, sources familiar with the construction told the Journal.
They join longtime Exuma Caye resident Johnny Depp, who purchased Little Hall's Pond Cay in 2004, and LVMH Chairman and Chief Executive Bernard Arnault, who also has a home on the Exuma Chain.
In the Southern Bahamas on the Exuma Chain is David Copperfield's 700-acre, 11 island resort Musha Cay, which he purchased for over $50million in 2006. The illusionist reportedly spent an additional $30million renovating facilities on the properties.
Neighbours: Magician David Copperfield (left) and Johnny Depp (right) both own private islands on Exuma Cay
In the club: LVMH Chief Executive Bernard Arnault (left) owns an island on the chain, and Tyler Perry (right) is currently building on his second island, White Bay Cay
Extravagant: Soulja Boy has splash out on a $55 million private jet to celebrate his 21st milestone
