New island off Monaco will change Grand Prix circuit

[Offplanpropertyexchange]

There are plans to creat a new island off Monte Carlo, its going to be around 275 tousand square metres. The new land will be used to build new homes. The Monaco Grand Prix circuit may be changed to include the new area this is because of the lack of overtaking places in the current layout.
Property prices in Monaco are high due to the lack of land - in the past one of the districts, Fontvieille, had much of its area reclaimed from the sea, but property prices there equal those of the better known Monte Carlo.

It’s almost certain that the properties will be snapped up by investors off-plan, and then come back to the market with a premium once the buildings are complete. The development in itself will attract more attention to the Monaco property market.