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A prototype of a floating home worth $1.5million (£1.36million) partially sunk just a few days after it was unveiled.

The luxury SeaPod constructed by Ocean Builders in Panama malfunctioned and caused a ‘tilt’ which saw the building tip onto its side.

The SeaPod is being touted by the company as a solution to long-term living as sea levels continue to rise around the world. It offers more than 300 square feet of living space and contains “three half floors” all 7.5 feet above the waves.

Prices for the properties range from $295,000 (£263,000) to $1.5 million (£1.3m), but the unveiling of the model didn’t exactly go to plan.

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Footage on social media showed the pod turning up on its side following a ceremony which was attended by Panama’s president, Laurentino Cortizo, in September.

The floating home, which features a jacuzzi and panoramic views of its surroundings, was seen by visitors for a few days before it began tipping on its side and became partially submerged.

SeaPod released a statement after the incident, saying: "At roughly 4:35pm on Thursday Sept 22nd, our SeaPod experienced a ballast tank and pumping system malfunction which caused flooding in the jacuzzi spar.

“This flooding quickly passed through to the other spars causing what we’re referring to as 'The Tilt'."

It went on to say that "not a single person was injured" and that no-one "even got their feet wet."

"The SeaPod itself has some minor cosmetic touchups that need to be done, there was absolutely zero contamination to the marine environment since our homes are eco-friendly. We are extremely grateful for this because safety is our top priority.”

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