Several celebrities have already done well in the Irish island market. One of the first was John Lennon, who spent £1,700 in 1967 on Dorinish (later dubbed Beatle Island) in Clew Bay.

Lennon is thought to have retreated there intermittently with his first wife, Cynthia, until their divorce. He allowed Sid Rawle to establish a 25-strong hippie commune on the island in 1970, but by 1972 it had disbanded after the group’s supply tent was destroyed in a fire. Yoko Ono sold the island for nearly £30,000 in the early 1980s and donated all the proceeds to an Irish orphanage.

But island ownership isn’t without its stormy patches. Even after you’ve signed the deeds, nature is still your gatekeeper. Popping to the shops for a pint of milk or a packet of cigarettes on a whim will be out of the question. That’s fine for the self-sufficient or those who plan ahead, but a trip to the nearest casualty department if there’s an accident will almost certainly be an ordeal.

Islands also tend to be in areas that are considered by local planners to be “visually vulnerable”. Many off the coast of Ireland have fragile ecosystems or have been colonised by wildlife, jealously protected by nature-lovers. A stab at developing an uninhabited island commercially can evoke a world of trouble.

The golfer Nick Faldo fell foul of conservationists when he bought Bartragh Island off Co Mayo in 2003. The island is now undergoing an environmental impact assessment before the plans for Faldo’s golf links can tee off.

But for thousands of people, famous or otherwise, nothing can drown the glory of being able to say three little words: “That’s my island.” Their purchase is usually an emotional, rather than a rational decision. That, and their relative scarcity, ensures the buoyancy of the market. However, choice of island — taking into account its location, services and accessibility — will determine whether a haven-hunter becomes a market survivor or a mere castaway.

“Accessibility is a prime factor. It depends on how much discomfort and travelling time you’re willing to put up with,” says Cheyenne Morrison, of Coldwell Banker Morrison, the broker handling the sale of Vatu Vara. “The closer an island is to an established town, the more expensive it generally is.”

About €300,000 will buy you Quay Island, just off the shoreline at Bunratty, in one of the west’s well-worn tourist trails. John Stapleton, of the agent ERA Stapleton, has been showing the island to a cross-section of potential buyers, including a number of Dubs, Americans and some returned emigrants from the area who are contemplating it as a site for a holiday home.

It has a water supply but no electricity, although Stapleton says that neighbouring Green’s Island has an ESB supply that could be taken across relatively easily. It has a ruin on it, so there’s potential to build.

“The idea of having the island is often the main thing,” he says. “A few were looking at buying it as a status symbol. They viewed it in their own helicopters and talked about placing a helipad on it. It certainly generates conversation, although they might not be too sure what to do with it afterwards.”

• Vatu Vara, www.luxuryrealestate.com ;HOK, 01 663 4350, www.hokres.com; Premier Properties, 054 954 6868, www.premierpropertiesireland.com

  Privacy for sale

  The 28-acre Carbery Island in Co Cork is 32km long and has a two-storey cottage and a white sandy beach. It sits in Dunmanus Bay, a body of water popular with fishermen, divers, seals and otters. €1.49m through Vladi Private Islands, 00 49 4033 8989, www.vladi-private-islands.de

  Quay Island is a 23-acre tract on Garney River in the Shannon estuary, Co Clare. Ten minutes by boat from Bunratty, it has a water supply and the ruins of a house. Power could be connected from a nearby island. Priced at €300,000 through ERA John Stapleton, 061 319 066, www.eraireland.com.

  In the Shannon estuary, south of Galway Bay and about 5km from Shannon airport, is Shore Island, a 30-acre retreat that rises to 100ft at its centre. With a pier and the faint remains of a house, it is accessible in all tides. Priced at €1m through Vladi Private Islands, 00 49 4033 8989, www.vladi-private-islands.de

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