yes as lease hold only BUT to be honest right now renting is the best option. as of 12th 2011 land in Vanuatu is now in a buyers market. Buy and you pay stamp duty unless you buy a company owning the land which is very common and saves the 7.5% stamp duty..
SO buy IF you want a Long term hold but rent IF you want to live here. At least for the first year or two. Vanuatu is to put it simply.. a very Interesting place and One needs to experince the Issues b4 committing .
A great place to holiday semi retire abut tough to make a living IF the world economies are not expanding'
I know a guy who has written some great articles about buying a home or even an island in Vanuatu. You can read the article here: aqua-sanctum.com/houses-for-sale-in-vanuatu- How to buy a house in Vanuatu
or look at homes for sale as well: aqua-sanctum.com/vanuatu-property/vanuatu-homes-for-sale - aqua-sanctum.com/vanuatu-property/vanuatu-homes-for-sale - Homes for Sale in Vanuatu.
I've been wishing I could buy a Private Island... maybe someday