The first floating city will now be put on sale today, starting a new trend when it comes to the whole real estate industry. Will this be the new game-changer in the real estate industry? Or will just be a one-time gimmick that will be soon forgotten by the masses?
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The First Floating City in the World Opens in the Caribbean Sea With Various Prices
Blue Estate Island: Inside the World's First Floating City in Caribbean Sea
According to Daily Mail UK, the floating city in the Caribbean Sea is called the Blue Estate island.
It is a man-made super island that will permanently be attached to the many constructed concrete modules placed in the Caribbean Sea.
The location will be roughly the size of a certain half of a location, as many real estate experts say about it. To be exact, the size of the man-made island would be 4,921 feet by 3,280 feet, wherein that size is half of Monaco.
For the prices of the available real estate properties on the man-made island, prices range from £14,000 (equivalent to around $25,000) for small real estate properties to £1.1 billion (equivalent to around $1,5 billion).
The cheap real estate property, named Ring Level, is a studio apartment type property. While the biggest mega-mansions are named Signature Estate respectively.
Do take note that even though the sale for this kind of real estate has recently opened, construction on it will only start in 2022, and is expected to be completed in 2025.
This means that the majority of the real estate properties that will be built on the island are pre-selling as of the moment. However, there are some units that will be handed to its soon-to-be owners in 2023.
The developers who are also named Blue Estate are expecting that 15,000 people will become permanent residents of the said man-made island. And they are expecting that number to even grow more as time passes by.
They have stated that to access the island, residents and visitors alike would be one trip away via both Miami and Bahamanian Islands once completed.
Other Known Details About the Blue Estate Floating City Island
Aside from the basics, there are some other details available to the public about the said ambitious project.
As reported, Blue Estate (the developer) have stated that they have thought about the environmental impact of such a huge project in their minds.
Therefore, they are going to implement a renewable energy system to lessen the island's negative impact on CO2 outputs.
And yes, they know that the Blue Estate Floating City Island is a humungous and ambitious project that no other real estate developer has attempted before.
But, they are willing to take the necessary risks in other to complete this one-of-a-kind project that will support many people and their respective families in the near future.
The developer has also stated that thanks to the project's natural offshore location, they will try their best to take full advantage of it.
They will do so by creating a business-friendly environment within the island itself. While doing so, they are aiming to have zero taxes and minimal regulations within the island itself.
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