Want an island? Best time to buy one now

MELBOURNE: The global financial crisis has driven down the price of tropical islands in Australia, creating big bargains for would-be Robinson Crusoes seeking a coral-fringed paradise retreat.

Richard Vanhoff, a realtor in the northeastern state of Queensland who has about 10 islands on his books, most located near the famed Great Barrier Reef, said yesterday that prices have dropped as the recession bites.

"The initial asking price on some islands was a bit high and they've now come in lower and are a lot more reasonable that what (sellers) were asking initially," he said.