This is the most expensive residential area in the world

In the dwarf state where money plays no role, luxury is the order of the day. But the new residential project, which should be ready for occupancy this year, exceeds even Monaco's very high limits. Since the living space of the principality is almost completely built up and there is still great demand for real estate in the tax haven, six hectares of sea were simply “transferred” to “Maritera”.

Construction of the massive project began in 2015, when private ships began dredging the seabed and pouring a new concrete floor base. Concrete boxes were inserted into this foundation to define the new shoreline. The resulting artificial lake was filled with sand and then formed the foundation for the newly acquired building land. The costs for this alone amounted to one billion euros.

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This is how “Maritera” was created, a luxury area with a small marina. The average area of ​​apartments is 300 square metres, and the area of ​​villas is more than 3,000 square metres. The area is an environmental model – car-free and deriving up to 40 percent of its energy from renewable sources. Protected flora and fauna have already been relocated, including 500 square meters of Neptune grass and pen shells.

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But Monaco is bursting at the seams. The emirate, with an area of ​​only 2.02 square kilometers, is the second smallest country after the Vatican. With a population of about 40,000 people, it is the most densely populated in the world. Among these, according to recent statistics, there are more than 27,000 millionaires with a net worth of at least one million dollars. Their number is expected to increase to approximately 39,168 people in 2026.

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Of course, living in Maritera has its costs. The smallest apartment (still 300 square meters) costs only 40 million euros. There is – for understandable reasons – no information about the prices of luxury villas in the luxury eco-zone. Who will live there is being kept top secret for now. It is assumed that half of Monaco's population will be inhabited, and the rest will be inhabited by millionaires from all over the world.