The daughter of Russian billionaire Dmitry Rybolovlev has bought the Greek resort island where shipping tycoon Aristotle Onassis famously married Jacqueline Kennedy in the 1960s.

The Sun reports that Jay-Z is buying an island in the Bahamas. He is spending $2 million on his own land in North Abaco so his wife Beyonce and daughter Blue Ivy can have a vacation in peace.

Luxury Singapore hotel group Banyan Tree will open its first Indian hotel in the southern state of Kerala. It is set to open by the first quarter of 2013.

Around the world, a few owners are renting out their islands for vacationers who want to spend a luxury holiday in a private haven.

Here is a selection of the best spots around the world!

L’Oreal heiress Liliane Bettencourt, France’s richest woman, has sold a string of private islands in the Seychelles to a firm linked to an ocean conservation foundation.

Bettencourt, 89, bought D’Arros Island along with several neighbouring islets for $18 million in 1998 and recently sold them for $60 million to a Seychelles-registered business, Housing and Habitat Minister Christian Lionnet said.

The stunning islands are located in the Indian Ocean, about 250 kilometres (155 miles) southwest of the main Seychelles island of Mahe.

An Austrian firm has come up what it hopes is the next big thing for the mega-rich: a man-made, floating island with a list price of 5.2 million euros ($6.5 million)

Measuring 20 by 37 metres (66 by 121 feet), the “Orsos Island” has no engine but can be anchored anywhere its owners choose and then towed to another location the other side of the world if they so wish, Hungarian-born Gabor Orsos said.

Boasting 1,000 square metres of living space, the Orsos island was designed to combine the best of mainland real estate and a super yacht at a reduced cost.