If privacy and getting away from it all are important to you, and the market downturn on the mainland hasn't made a dent in your assets, you might consider an island property. Islands are selling about 20% cheaper per acre than other waterfront property in the same locale, according to real estate experts. But be careful: owning an island often comes with some big headaches, especially in development, construction, and renovation. Just getting to your retreat can be a challenge. Here's an update on an August 2006 story that appeared in Kiplinger's Personal Finance magazine. The slide show begins with the navigation bar to your right:
By Amy Pollak

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ISLANDS FOR SALE 2007

Price: $466,446
Location: Georgian Bay (Lake Huron), 200 miles north of Toronto
Acreage: 9 acres
Dwelling: None
Remote, yes. But this island is one of the largest in an archipelago of othwerwise inhabited islands and there is a local public marina six miles away. Building permit is available.

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McGregor Bay Island

Price: $782,808
Location: Baltic Sea, 70 miles north of Stockholm, Sweden
Acreage: 3.7 acres
Dwelling: Main house and guest house
Here it is, Ingmar Bergman fans. A private island just like Faro, where the legendary film maker spent his final years in seclusion. The residences have electicity and running water. But you'd better like cold, rainy weather.

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Grisslehamn

Price: $1,700,000
Location: Auburn, N.Y., 30 miles southwest of Syracuse.
Acreage: 3.2 acres
Dwelling: None
This property is undeveloped and wild, home to a variety of local flora and fauna. As you can see, a river runs around it, with plenty of places to construct a boat mooring. Seneca River feeds into Cross Lake and eventually into Onondaga Lake, where the city of Syracuse is located. The property is four and a half hours from Manhattan.

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Seneca River Island

Price: $1,250,000
Location: Lake Winnipesaukee, N.H., 100 miles north of Boston
Acreage:
Dwelling: Three-bedroom cottage
This property offers top-drawer cottage life, in the middle of one of New England's most beautiful mountain lakes. Think Golden Pond, only bigger.

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6 Mile Island

Price: $1,795,000
Location: Pleasant Bay, Me., along the Atlantic Coast 200 miles northeast of Portland
Acreage: 30 acres
Dwelling: Three-bedroom house
The price tag covers two islands-- one 24 acres, the other 6 acres. The residence on the larger island has electricity.

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Lower Birch Islands

Price: $3,500,000
Location: Puget Sound, Wash., 175 miles west of Seattle
Acreage: 8.8 acres
Dwelling: None
This rugged property with cliffs and evergreens is the length of 5 football fields. Zoned for a single family residence.

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Ram Island

Price: $2,950,000
Location: Penobscot Bay, along the Atlantic Coast 100 miles northeast of Portland
Acreage: 22.21 acres
Dwelling: Two-story, three-bedroom home
This property is within a loon's call of Islesboro, Camden, and Belfast, some of the prettiest small towns along the Maine coast. The farm has a half mile of shore front, a deep-water dock, and a barn. The price tag shows, however, how much property values have soared in this area.

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Longmeadow Farm

Price: $2,850,000
Location: Abacos Islands, 175 miles east of Palm Beach. Fla.
Acreage: 4.96 acres
Dwelling: Main house and cottage
Just a short boat ride from a local Bahamian marina, this island comes with two houses, two electric transformers, a generator, 5 water cisterns, a 1/2 mile of beach shoreline, and underwater cable telephone service.

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Parrot Point

Price: $3,500,000
Location: Pacific Coast, Patagonia, 650 miles south of Santiago, Chile
Acreage: 59 acres
Dwelling: Main house
How's this for getting away from it all? The island residence has a windmill that generates electrical power and a freshwater pump. The island also has an apple orchard, sheep, chicken and pheasants.

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Mutri Island

Price: $2,165,812
Location: Tahaa, French Polynesia, Pacific Ocean
Acreage: 4 acres
Dwelling: Main house
Surrounded by coral reefs, this island has a 3,000-square-foot villa with three bedrooms that can accomodate 10 people. It's about a five-minute boat ride to the next island in the Tahaa archipelago. Tropical island tourist desinations Bora Bora and Raiatea are nearby, too.

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Tahaa Motu Villa

Price: $2,670,650
Location: Pacific Coast of New Zealand, 150 miles east of Wellington
Acreage: 50 acres
Dwelling: Main house and nearby beach cottage
This is actually a parcel of land that juts out from Matatoko island. The property comes with a 4,300 square foot, five-bedroom residence plus a beach cottage close to a wharf with a boat launching ramp. Electric power and fresh water access included. But as you can see with most islands, luxury plus privacy don't come cheap.

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Matatoko Peninsula