Summertime is upon us, which means loaded Chinese nationals are packing up to go island-hopping in the South Pacific in search for tropical land to splurge on.
Guangdong-based entrepreneur Lin Dong, who set up an association for island owners on the mainland, said he and five other members of the group will hit up Fiji, Tuvalu and Tahiti this month during ‘a buying trip’.
“Islands there are not expensive, about 3 million yuan for one island,” he was quoted as saying in a Guangzhou Daily report.
Lin, who founded his own medical equipment company, said he owns over 40 islands already. His association is made up of some 60 wealthy Chinese, two-thirds of whom blow money on their own islets for pleasure rather than business, according to South China Morning Post. The purposes of their island investments are far-ranging, kind of.
“I prefer an island to be quiet with a beach so that I can fish while reading books and listening to music, while some prefer more wild ways, like building a simple villa, or to just live on a yacht,” Lin said.
“[Owning a private island] is the top of the pyramid in the luxury market,” he said. “It’s like an aircraft carrier in some ways in that you need be equipped with private jets and yachts before really owning an island.”
The trip comes just two months after a Chinese tycoon made headlines for splashing out 35 million RMB to purchase one of New Zealand’s most exclusive privately owned islands, which she calls “her toy”.