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Prince Albert of Monaco has hailed a €2 billion land extension project to increase the principality's coastline as the solution to the its 'future private housing needs'

por Mamie Farrelly (02/07/2020)


Prince Albert of Monaco has hailed a €2 billion land extension project to increase the principality's coastline as the solution to the its 'future private housing needs'. 

For the BBC2 series Inside Monaco: Playground Of The Rich, Prince Albert has waived strict privacy rules to give a rare glimpse into the luxurious life of the tiny country's super wealthy. 

Viewers branded the Principality a 'utopia' and 'fascinating', and praised the Prince's commitment after the episode aired last night.

The elite tax haven is the most  densely populated sovereign state in the world, with average property prices costing twice as much as in London's most exclusive district, Mayfair.  

In a bid to tackle the country's need for tử cấm thành bắc kinh trung quốc housing, construction has now begun on a €2 billion project to extend Monaco's coastline a further 15 acres into the Mediterranean sea, with work set to be finished in 2025. 

However director of public works in Monaco Jean Luc Nguyen later revealed that the largest sea view villas on the extension will only be within reach of 'ten buyers in the entire world', at an estimated €100 million for one of the properties. 

In a bid to tackle the country's need for housing construction has now begun on a €2 billion project to extend Monaco's coastline a further 15 acres into the Mediterranean sea.

Pictured: Architectural visualisation

Prince Albert of Monaco (pictured)  has opened up about the €2 billion land extension project which he says will accommodate country's 'future private housing needs' 

Prince Albert of Monaco explained that their waterfront is the only place that could accommodate such an extension. Pictured: tử cấm thành Architectural visualisation

Speaking of the project, Prince Albert said:  'We did a quick projection of our future needs in terms of private housing. 

'It became clear that where the land extension is happening now, is the only place on our waterfront that could accommodate such an extension. 

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'We have a lot of demand for water-view apartments, so this answers that need but creates a public space area everyone can enjoy.' 

The extension's seafront homes will range from 100 square meters to 1500 square meters, while the average house on the extension will be 400.  

Viewers branded the Principality a 'utopia' and praised the Prince's commitment to the country after the episode aired last night

Prince Albert of Monaco revealed they have a lot of demand for water view apartments.

Pictured: The expansion in process 

Jean Luc Nguyen explained that they usually use the ratio per square meter to price properties.

Pictured: Port Hercule de Monte Carlo

The extension's seafront homes will range from 100 square meters to 1500 square meters, while the average house on the extension will be 400.

Pictured, Prince's Palace of Monaco

Speaking of the biggest homes, Jean said: 'I don't know the price, usually we use the ratio per square meter. 

'But when you reach this kind of product, there are only ten buyers in the entire world who will be able to afford it, maybe more than 100 million euros for one villa.' 

However until the extension is complete, properties continue to be built on the tiny sovereign state - including a two bed apartment for €19 million.