Floating cities are the next big thing, according to The Seasteading Institute, who are predicting that we may start seeing these communities within five years.

Now they're finding a location and are "actively engaged in diplomacy with host nations" with aims to see the first floating city community in 2020.

Floating cities are the next big thing and you could be able to buy in for San Francisco real estate prices.

The mooted location of the first floating city is currently undisclosed and by the end of 2014, engineers and architects had been taken to the location to discuss the potential. At present, they are drafting an agreement to present to the host nation.

Previously, they crowdfunded $27,000 for a floating city design, explored a number of different designs and started surveying consumers.