Living underwater may sound like a pipe dream, but it'll be reality soon at "The Heart of Europe," an exclusive cluster of islands off the coast of Dubai. In the coming weeks, real estate developer Kleindienst Group will install the first of its 42 "floating homes"—and, of course, they look as stunning as you'd expect.

Each home—aptly dubbed "Floating Seahorse"—sells for $1.8M, and features a 270 SF submerged level with a master bedroom and luxury en suite bathroom. The views of the coral reef and marine life are breathtaking. 

A second floor at sea level includes a spacious living room, a fully fitted kitchen, and a ladder to dive right into the ocean. Finally, there's an upper deck with a mini-bar and a glass-bottomed Jacuzzi, where dwellers can stretch out and enjoy the sunset.

Kleindienst Group CEO Josef Kleindienst says the underwater home will set a new standard for luxury properties. (And you don't have to worry about air rights.)

Over 5,000 hours have been invested in research and development and more than 13,000 hours in design and engineering, according to Kleindienst. 

In January, the team completed testing on the first floating house, which is ready to set sail. The project is scheduled to finish by the end of 2016, while tenants will start moving into their new underwater villas in 2017.