Monaco breakwater real estate value determinated by the surroundings

monaco breakwater real estate

What market will a seastead compete with ?

  • oceanfront real estate

  • yacht market

  • used houseboat market

The achievable price per squaremeter will probably depend on the “perception of the value equivalent”
Is living on the seastead compareable to the living in an old houseboat, or compareable to living in a luxury shoreside apartment ?

In the case of Monaco land reclamation directly competes with building up taller high rises.

Monaco’s skyline is mostly composed by 1960/70s high rises while the map and shape of Monaco is highly influenced by land reclamation projects (most prominent at Fontvieille, to the West of the Rock, which basically replaced construction up from the 70s to about the present). 2000/10 after further land reclamation was considered and discarded, the beautiful Tour Simona and the more recent and controversial Tour Odeon the tallest in the Mediterranean was and is being built.

-Land reclamation was proven unfeasible because of the underwater habitat destruction it would cause.

-Floating land was not considered for residential real estate beyond futuristic approaches (Lilypad), but they did purchase and installed the famous Floating Breakwater which added many valuable commercial square meters to the tiny country. The least expensive single parking space within Monaco you can be lucky to find costs at least EUR150,000, but they can go up to half a million.

-The construction of the Tour Odeon, the chosen solution to augment the size (in usable residential square meters) of the City-State this decade, has caused a lot of problems and polemics with the neighboring French community of Beausoleil even though its on sovereign Monegasque territory.
Conflicting interests during construction (noise, dust, traffic complications in a very small placed tucked between the mountains and the sea) and foreseen for after completion (shade!) are inevitable when trying to push coastal density to the limits.

Monaco is the only country in history that has almost doubled in size through peaceful means.

Monaco is a thriving independent country without an own airport, seaport (beyond two yacht marinas), or arable land. Even more relevant to Monaco’s economic constitution, Monaco’s Golf course and Tennis courts are also on French territory since the only alternative for such large open-surface activities would have been the sea. As can be appreciated in the map, much more than 90% of Monaco’s sovereign territory is water.

Floating platforms could alter the shape of Monaco from a (tilted) East-West axis

o a comparatively gigantic North-South axis.

Only the French (and Italian) Riviera would compete with a Monegasque Seastead: investors would have to ask themselves which is safer, terra firme, land under the whim of French Law, or floating dry surfaces within Monaco’s Territorial waters.

The Luxury of the Present is the Necessity of Tomorrow.

The Monaco floating breakwater (here in ocean transit between Algeciras - Spain and Monaco. Loa 352m / Height 30m / Beam 30m = 126.720 square meter of floating real estate) contains a shopping mall and a parkhouse and is docking space for up to 4 cruise ships at a time.

This floating real estate development is now located in front of FONTVIELLE as vital part of the Monaco harbor infrastructure. The parkhouse and the shopping mall enjoy their business space square meters obviously at FONTVIELLE real estate prices and and do not really compete at the “used houseboat market”.

read more about the monaco floating breakwater

The Monaco floating breakwater in its real estate context in the Monaco harbor.

Floating real estate is the biggest real estate deal in human history…

floating real estate square meters

Value of oceanfront real estate in Cartagena Colombia USD 17000 per square meter, production cost USD 166 per square meter

This makes real estate the pimary business of seasteading

The future of floating real estate on our oceanic planet

The making of the Monaco Breakwater

Wilfried Ellmer

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