(CNN) – Packing up and moving to an exotic island is a long-cherished dream for many globetrotters, but it looks like the prospect is getting even more compelling due to the global pandemic.
And judging by the response to this upcoming floating luxury real estate development launching close to the Bahamas in 2025, there is still keen interest in moving to a safe haven in the middle of the sea.
A 25-minute flight from Nassau, the capital of the Bahamas and just under 90 minutes from Miami, the island measures 4,921 feet by 3,280 feet (1,500 meters by 1,000 meters), an area half the size of Monaco, and can accommodate up to 15,000 permanent residents.
Floating city
A rendering of the Blue Estate Island, which will launch near Miami in 2025.
Credit to The Blue Estate Group
Those who land in the “world’s most exclusive private residence” will be treated to more than 340 days of sunshine every year thanks to the island’s prime location, the developers said.
“We were initially concerned whether the current pandemic would negatively impact the project,” Erik Schmidt, Blue Estate Group Chief Communications Officer, told CNN Travel.
“Fortunately, things turned out differently. Some neighborhoods are almost completely sold out and the sales team is doing their best to keep up with requests and questions.”
Properties on offer range from $ 19,800 20-square-foot indoor apartments, $ 194,400 balcony apartments, a $ 54 million five-bedroom garden villa, and two signature estate mega-homes, each with an estimated price tag of $ 1.15 billion.
Those wealthy enough to pay for the latter will have to present a ‘groundbreaking architectural concept’ before they can be approved to purchase the mansion, and Schmidt confirms that an application has already been submitted.
Built with “ultra-high-performance concrete modules”, the island will have its own state-of-the-art health clinic, as well as an international school suitable for children from “toddlers to graduates”.
‘Everyone is welcome’
Residents are likely to get more than 340 days of sunshine a year thanks to the island’s prime location.
Credit to The Blue Estate Group
“There are no special requirements to become a resident of the Blue Estate,” explains Schmidt.
“Everyone is welcome to buy, own or rent a property and / or open a business at Blue Estate.”
Residents who work here can apply for a range of business permits that are valid for a 12-month period, but no tax is paid on them.
“The proliferation of remote work opportunities over the past decade (not just as a result of the pandemic) has allowed more people to freely choose a ‘home base’ that best suits their individual needs,” he explains. he indicates that the average age of the resident is probable. to be “significantly lower” than most other cities.
“Young entrepreneurs can focus on their start-up business without having to fight paperwork and pay high taxes.”
Green community
The developers plan to use renewable resources on the island, which will give it negative CO2 emissions.
Credit to The Blue Estate Group
Blue Estate will also house a number of ocean clubs, lagoon-style pools, playgrounds, markets, restaurants, bars and shopping areas, so residents will likely have plenty to enjoy themselves.
While it is difficult to estimate how much the global pandemic contributed to buyers’ decision to buy a property from Blue Estate, Schmidt says many have expressed concerns about “personal or business restrictions” in their home countries.
While the majority of buyers are from the US, some properties have been purchased by residents of Canada as well as Europe and China.
“Dissatisfaction has always been and will continue to be a driver of change,” added Schmidt.
There is also no visa requirement for buyers, residents “can stay on the Blue Estate as long as they want,” Schmidt said.
However, all arrivals are subject to airport-style security checks.
Although construction will not begin until next year and the island will not be fully completed for another four years, some properties may be ready for delivery by mid-2023.
To achieve its goal of being one of the “greenest communities in the world”, all of the island’s energy will be generated from renewable sources, and will pursue a zero single-use, zero-emissions policy.
Blue Estate is also open to non-residents, but visitors must apply for a permit / visa prior to their trip as only a certain number of visitors are allowed on the island at the time. There will be two hotels on the island to receive visitors.
Mobile island
The construction of Blue Estate has yet to start, but buyers are already grabbing the houses on offers.
Credit to The Blue Estate Group
While its position in the Caribbean Sea means that strong currents can become a problem, the island is protected by outer walls of more than 50 meters that “shade the biggest waves in the ocean,” according to the Blue Estate Group.
It will also include automatic hurricane shutters that can be extended to provide additional protection for the community from high winds.
In the worst case, the entire island could be “cleared” for incoming storms because of its high-tech properties.
While Blue Estate appears to be the first floating real estate development to allow buyers to purchase its properties, Schmidt believes similar projects will crop up in the future, particularly due to the demand for isolated sites triggered by the pandemic.
“Our engineers have been working on the project since 2016, which gives us a bit of an edge,” he says. “Nevertheless, we already have plans to scale up if demand remains at the current level or increases.”
Work on the ambitious project, which will largely consist of catering establishments and second homes, started in 2003 and should be completed in 2023.