There are 1000’s of townships built around the world with the promise that it will be a money making investment however we all have seen that only 5% of them are actually money making investments. This is the reason we totally agree on your question “is it worth Buying Property in Maldives floating city” and tried to put some facts in front of you 🙂
We are showcasing some important logical points in favour and not in favour of buying property in Maldives floating city –
Points in Favour of buying Properties in Maldives floating city
Its not like Townships that claims to be Profitable but are Hollow
Maldives floating city is one in only and has never been built any where before. When we say it is different, we actually mean that. This city will be floating on the sea which made this project so popular in front of the world. When the whole world is looking & betting on the success of the city then we can assume that almost 100 crore people out of 767 crore population of world is or will get aware about this project.
As we all must be aware that Maldives is running short of time because of rising sea levels that will eventually come above its atolls within this century. Before this invention govt was planning to relocate its population to other land which will be purchased from other nation.
But Architects and authorities came up with better plans of building this high tech Maldives floating city and saving the nation forever .
Near to the Airport & Male capital
Maldives is not developing this in the isolated corner of Indian ocean, it will be just 10 mins ferry ride from Male city & airport. Being so close to the current Habitat this Maldives floating city is expected to be a great success as it will not force people to altogether change their current location.
All basic Facilities
Maldives floating city will be equipped with all basic facilities that a modern city should, these facilities are like –
- 1050 Square feet residential waterfront houses
- Shopping complexes
- Shopping Malls
- Govt offices
- Golf club
- Transportation facilities
- Electricity plant
- Drinking water
- Supply Chain
Project is planned in Phases
Floating city of Maldives is planned to be completed in phases in next 5 years, initially the first phase of the project will be completed with an island having residential houses and commercial spaces.
Travelling to Maldives is already a dream of Millions of People around the world, in the year 2020 when the whole world was flighting from covid, Maldives was serving lakhs of tourists because of its popularity and experience of handling tourism.
With the development of Maldives floating city, tourism in Maldives will see a next level boom and it is projected by the specialists. It is going to be a hub of tourism then the prices of properties will definitely see new hikes hence more profits.
Professional architects & designers
The floating city of Maldives is going to be built by world renowned professionals .Dutch Dockland is one of the most experienced and high tech designers based in Netherlands 🙂
This company is already working on building floating city in Netherlands which is obviously not as big as Maldives floating city but is of similar concept.
Residence Visa of Maldives
Before the announcement of introduction of this city if the foreigner wanted to invest in Maldives, the investment required was in millions of Dollars, but now there is a clause of granting residence visa to foreigners if they will buy property in Maldives floating city .
Points not in favour of buying Properties in Maldives floating city
Will the Project be successful
There are still some voices that are being raised on the success of floating city of Maldives, as this of project is going to built for the first time. These critics are questioning on the proper implementation of project.
High demand of Investment
Some People in Maldives are not reacting good on the announced prices of residential properties in Maldives floating city . It was announced that 1050 square feet houses in this floating city will cost around 2,50,000 & above.It seems be on the higher side for a normal Middle class Maldivian.
No clarity on property taxes as of now
There is no proper clarity on taxes one will have to pay for buying or keeping a property in Maldives floating city 🙂 However there will be a documentation released very soon on the project will be shared with the world .
Supply Chain management is difficult
As per the critics the supply chain management for this floating city is very difficult and authorities will have to world real hard to make this project successful in proposed timings & investment. However the govt is very confident over the implementation of it.