The 2007 F1 Grand Prix season is underway, and in the first race in Melbourne Finland's Kimi Raikkonen secured his position on the winners' podium after driving his Ferrari to victory, with new British driver Lewis Hamilton securing third position in his first ever race, and an impressive second a fortnight later in Malaysia.



Changes both on and off the track could have a dramatic affect on this season's podium finishes, with races expected to be closer than in recent seasons, which have seen a decline in the sport.

Seven times World Champion Michael Schumacher retired from racing at the end of the 2006 season, and his departure has increased the possibility of no individual driver dominating for some time to come.

The ace German driver won his championships in 1994 and 1995, and between 2000 and 2004 won five championships in a row.

Schumacher won some 91 F1 races in his career, amassed more pole positions than any other driver in the history of the Grand Prix's and over 70 competitive fastest laps.

Off the track Bridgestone has become the sole supplier of tyres, and some rule changes have been introduced which should cut the number of tyre changes during the race, and add some extra excitement in overtaking and braking manoeuvres. This will really come to the fore at the Monaco Grand Prix where overtaking is notoriously difficult.

A new island is to be built off Monaco, and while the winning bid hasn't been decided upon yet, there is a possibility of the circuit changing in some years to come which might allow for more overtaking places, but locals are more interested at the moment to see whether the cost of housing might be affected.

Monaco Island

With property prices in Monaco the highest in Europe and one bedroom apartments after closing costs starting at around a million Euros, longer term the shortage of property in Monaco will be helped by the new island being built off Monte Carlo.

It's thought unlikely that the new island to be built off Monaco will reduce prices much overall though, despite the increase in the number of property units available as Monaco property is always in demand.

Monaco estate agents believe that most new apartments will be sold to investors off plan well in advance of any building work starting.

'The problem with property in Monaco is not the lack of buyers', they say, 'but more the lack of good properties for buyers to choose from. Hopefully the new island will address that. Everyone in Monaco is aware of how important the environment is thanks to Prince Albert's initiatives in pushing it up the political agenda, and any new developments will be low rise. With the good weather in Monaco expect to see plenty of solar panels on the roofs to make the buildings energy efficient'.

It is possible that the new island will be incorporated into future Monaco Grand Prix, which could give more overtaking opportunities.

During his first year Prince Albert has successfully made the people of Monaco aware of global warming and taken steps to combat it, and for his second year and beyond he is likely to be campaigning just as hard at home and abroad on the issue he believes in so much.