Want to buy a home overlooking the sea? Then any estate agent will tell you that whether it’s in the UK or overseas, expect to pay a premium of up to 20% despite the risk (in some areas) of coastal erosion. But a seaside home that’s different in almost every way may soon be on offer, if billionaire dot com entrepreneur Peter Thiel (pictured, bottom) can get his latest big idea off the ground.
Thiel, who is the founder of online payment firm Paypal, has sunk (sorry, invested) £700,000 in a plan to create a floating island (pictured, above) not governed by the rules of any country.
The structures will reportedly have a displacement of 12,000 tons, be diesel-powered (so not that green) and initially be home to approximately 270 people. By linking the islands together they could grow to eventually support millions.
Thiel plans to anchor the islands in international waters making them therefore exempt from jurisdictions covering taxes, regulations, building codes, welfare requirements and weapons restrictions.
In 2009, a 3D design competition was held to help people visualise what these sea-bound communities may look like and the winning entry by Hungarian architectural cum graphic designer András Gyõrfi is described as a ‘recreational resort’, complete with grass, trees and a large communal swimming pool.
But what at first looks like a floating apartment block is in fact a experiment in creating a new society – which Thiel hopes can be achieved on the islands. Prices for properties have yet to be released, but despite it’s utopian aims, PrimeLocation.com thinks they won’t cheap.